Autonomous truck developer TuSimple announced Thursday it is considering the sale of its U.S. operations to focus on business in Aisa.
The San Diego-based company has engaged Perella Weinberg Partners as a financial advisor to explore possible transactions for the U.S.-based portion of its business.
TuSimple said its U.S. and Asian businesses operate separately with stand-alone engineering teams, software code, and infrastructure.
“If a transaction involving the U.S.-based business occurs, TuSimple will continue to be a global Level 4 autonomous driving technology company with greater emphasis on Asia-Pacific and other major global markets,” the company said.
The company began a restructuring with extensive layoffs late last year after chief executive Xiaodi Hou was removed in October.
TuSimple was founded in 2015 to develop autonomous driving technology for long-haul, heavy-duty trucks.
