PR Newswire | May 10, 2021 04:15PM EDT

05/10 15:15 CDT

TuSimple Announces First Quarter 2021 Results--Carrier-Owned Capacity Reservations Up 27% Q/Q to 6,775---Expanded Talent: Added Head of Map, Grew R&D Headcount 17% Q/Q---Commenced Autonomous Testing in Sweden with Scania---April IPO Raised Over $1 Billion-- SAN DIEGO, May 10, 2021

SAN DIEGO, May 10, 2021 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global self-driving technology company based in San Diego, California, today announced unaudited financial results for the first quarter period ending March 31, 2021. TuSimple's complete quarterly financial results and management commentary can be found by accessing the company's shareholder letter on the quarterly results page of the investor relations website at ir.tusimple.com.

TuSimple President and CEO, Cheng Lu, commented, "TuSimple continued to gain momentum throughout Q1 2021 by refining our proprietary artificial intelligence technology and designing our purpose-built L4, Class 8 truck with Navistar. Alongside these technology developments, we led the industry in building autonomous vehicle ecosystem partnerships and expanded our Autonomous Freight Network."

Lu continued, "In April, we became the first autonomous driving company to list on a stock exchange. The $1 billion of growth capital we raised through our IPO provides us with a substantial runway to focus on our technology and continue our industry leadership in autonomous trucking. With this capital, we are more confident than ever that we will achieve our mission to bring a reliable, low-cost trucking solution to market while setting a new standard for safety and efficiency."

Conference CallTuSimple will hold a conference call at 2 p.m. Pacific Time (5 p.m. Eastern Time) to discuss the company's business and financial results.

What:TuSimple Q1 FY2021 Earnings Conference Call

When:Monday, May 10, 2021

Time:2 p.m. Pacific Time (5 p.m. Eastern Time)

To Listen via Telephone:North America (toll-free): +1 (833) 519-1404International (caller-paid): +1 (270) 215-9738Conference ID: 2176603

To Listen via the Internet: https://ir.tusimple.com/events/event-details/tusimple-q1-2021-earnings-conference-call

An archived version of the webcast will be available on TuSimple's Investor Relations website at ir.tusimple.com. A telephone replay will be available two hours after the end of the conference call until May 17, 2021. To access the replay, please dial +1 (855) 859-2056 for North American callers or +1 (404) 537-3406 for international callers and enter the conference ID 2176603.

About TuSimpleTuSimple is a global autonomous driving technology company, headquartered in San Diego, California, with operations in Arizona, Texas, China, Japan and Europe. Founded in 2015, TuSimple is developing a commercial-ready Level 4 (SAE) fully autonomous driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4 trillion global truck freight industry through the company's leading proprietary AI technology, which makes it possible for trucks to see 1,000 meters away, operate nearly continuously and consume 10% less fuel than manually driven trucks.

Visit us at www.tusimple.com, and follow us on Twitter, YouTube and LinkedIn. Images and video can be found in our press kit atwww.tusimple.com/media.

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SOURCE TuSimple Holdings Inc.