TuSimple Holdings, Inc. is a Chinese autonomous trucking company, based in San Diego , California , with offices in Arizona , Texas , and China . It was founded in 2015 by Xiaodi Hou and Mo Chen. In December 2023, the company announced that it would be closing its U.S. business and moving to China.
48-781: TuSimple was founded in September 2015 by Mo Chen and Dr Xiaodi Hou, who graduated from the California Institute of Technology. The company initially operated in two facilities: one in Beijing, China and one in San Diego, California. In August 2019, UPS announced its purchase of a minority share in TuSimple and that it has been performing tests on a 100-mile stretch of highway in Arizona. In early 2020, TuSimple announced
96-474: A Chinese company, Hydron Inc. Hydron Inc., is a hydrogen truck startup founded by Mo Chen, who co-founded TuSimple with Xiaodi Hou. Hou responded to his ouster by stating that he would be "vindicated." As of late 2022, TuSimple and its leadership were under investigation by the Federal Bureau of Investigation (FBI), U.S. Securities and Exchange Commission (SEC), and Committee on Foreign Investment in
144-468: A chip to its self-driving technology. In late 2019, a study was conducted by the University of California San Diego on the fuel consumption of TuSimple autonomous vehicles . According to the study, TuSimple trucks showed a reduction in fuel consumption of 10% to 20%, with larger reductions occurring in areas with higher amounts of traffic. In December 2021, TuSimple announced that it had completed
192-768: A computer that is connected to the TuSimple servers. Each of these servers, which are used to identify cars on the road and their speeds, contains as many as 100 A.I. models . The models receive data from the cameras’ LiDAR and radar equipment and use it to build a live 3D model of the road. In April 2023, the company announced a proprietary central computer unit called the TuSimple Domain Controller (TDC), designed to act as an autonomous truck's central computer, managing sensor inputs, vehicle control and autonomous driving software. The TDC reportedly incorporated American technology company Nvidia 's DRIVE Orin system-on-a-chip (SoC). The company also operates
240-404: A disagreement with his planned compensation and the company's shift in focus from level 4 to level 2 autonomy. This claim was disputed by Cheng Lu, who affirmed that TuSimple is still working toward level 4 autonomy and accused Hou of poaching employees. TuSimple uses a combination of LiDAR , radar , and HD cameras to detect vehicles and obstacles up to 1,000 meters away. Each truck consists of
288-403: A diverse range of vehicles and machinery, including cars, trucks, buses, light commercial vehicles , off-road equipment, rail vehicles , helicopters, motorcycles, lift trucks, machinery and system construction, test systems, cranes, as well as special marine, military and agricultural vehicles and equipment. The ZF Lenksysteme division, a joint venture between ZF and Bosch , specializes in
336-411: A joint venture between ZF Friedrichshafen and Robert Bosch GmbH . Due to the 2008 financial crisis ZF took a €250 million loan from the state-owned KfW Bank and embarked on a company-wide restructure that shut down unprofitable locations, particularly outside Germany, the total number of employees was reduced from 63,000 to 59,000 worldwide. CEO Hans-Georg Härter stated that the combined effects of
384-502: A joint venture with Guangxi LiuGong Machinery Co., manufactures driveline components for construction machinery. ZF's presence in India includes joint ventures and license partnerships spanning over three decades. ZF India Private Ltd., operational since 2007 in Pune, focuses on axles, off-road driveline technology, and commercial vehicle technology. The facility includes factory buildings,
432-651: A partnership with Aeva Inc. to put LIDAR sensors for self-driving vehicles, into production. Some of the most important milestones: ZF Friedrichshafen manufactures automatic and manual transmissions for cars, trucks, buses and construction equipment; chassis components (ball joints, tie rods, cross-axis joints, stabiliser bars, control arms); shock absorbers and suspension struts; electronic damping systems including Continuous Damping Control (CDC), Active Roll Stabilization (ARS); clutches; torque converters ; differentials ; axle drives; and industrial drives. ZF products include ZF components are utilized across
480-465: A partnership with automotive supplier ZF to assist in the mass production and commercialization of autonomous vehicles. As part of the deal, ZF aided in the development of sensors for autonomous vehicles systems. TuSimple's Chief Product Officer Chuck Price stated that the partnership is “an important milestone to bringing their autonomous vehicles to market”. In July 2020, TuSimple and the freight truck manufacturer Navistar International Corp. formed
528-625: A partnership, intending to integrate autonomous systems into their freighters. Sale of these fully self-driving trucks was targeted for 2025, but the partnership was mutually dissolved in December 2022. In September 2020, TuSimple announced that it reached an agreement with Traton Group , a commercial truck manufacturer based in Germany, to jointly develop trucks with autonomous technology. Traton Group aimed to begin testing heavy duty autonomous vehicles in Germany and Sweden, but they did not provide
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#1732780509373576-459: A result, TuSimple dismissed around a quarter of its workforce, amounting to at least 350 employees. TuSimple representatives estimated that the downsizing would cost them between $ 10 and $ 11 million. TuSimple's stock also reported a 75% decrease from October 2022 and a 96% drop from their 2021 initial public offering price. In December 2023, the company announced that it would be winding down its U.S. operations and moving its business to China. With
624-732: A standalone entity, ZF Lifetec, focusing on vehicle safety tests and equipment. ZF Group operates globally, with Europe as its primary market, followed by the Asia-Pacific region, North and South America and Middle East & Africa. The company maintains six research and development (R&D) centers worldwide to tailor product development to local markets, investing approximately 5% of its sales revenue annually in R&;D. In Great Britain , ZF has been active since 1973. The manufacturing base in Darlaston supplies chassis components to
672-498: A timeline for this goal. Also in September, the company announced the launch of the autonomous freight network (AFN), with partners UPS, carrier U.S. Xpress, Penske Truck Leasing and McLane, the grocery and food service supply chain of Berkshire Hathaway. In January 2022 at the Consumer Electronic Show, the company announced it was partnering with American chipmaker Nvidia to add Nvidia's Drive Orin system on
720-613: A valuation of $ 229 million, the company is looking for a buyer. In January 2024, TuSimple announced it was delisting from the NASDAQ. Facing shareholder lawsuits, a US federal judge issued an order restraining TuSimple from sharing trade secrets outside of the US in order to protect shareholder asset claims. TuSimple subsequently suspended its operations in China. Cheng Lu previously served as TuSimple's CEO from September 2020 to March 2022 before he
768-495: A warehouse, and an aftermarket service facility. Nasdaq The Nasdaq Stock Market ( / ˈ n æ z d æ k / ; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City . It is the most active stock trading venue in the U.S. by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind
816-497: Is a German technology manufacturing company that supplies systems for passenger cars, commercial vehicles and industrial technology. It is headquartered in Friedrichshafen , in the south-west German state of Baden-Württemberg . Specializing in engineering, it is primarily known for its design, research and development, and manufacturing activities in the automotive industry and is one of the largest automotive suppliers in
864-565: Is the first company to "operate fully driverless heavy-duty trucks." On May 26, 2022, the Federal Motor Carrier Safety Administration and the U.S. National Highway Traffic Safety Administration launched an investigation of an April 6, 2022 accident in which one of the company's autonomous trucks crashed into a concrete barrier while on Interstate 10 near Tucson. Company officials blamed the accident on "human error," but former employees and experts in
912-1418: The Ecomat introduced in 1980, are widely used in buses. ZF Lemförder and ZF Sachs AG are specialized divisions within ZF, focusing on the production of both original equipment and aftermarket auto parts. ZF Friedrichshafen is organized into nine divisions, each focusing on different aspects of automotive and industrial technology: Sales (2020): €4,987 million. Products: Electronic Stability Control, Integrated Brake Control, Electric Park Brakes, Electrically Powered Steering Systems, and Electrically Powered Hydraulic Steering Systems. Sales (2020): €6,680 million. Products: Chassis components for wheel guidance, complete front and rear axles, passive and semi-active dampers, and electromechanical active chassis systems. Sales (2020): €8,459 million. Products: Automatic Transmissions, Automated Manual Transmissions, Manual Transmissions, Dual-Clutch Automatic Transmissions, Powertrain Modules, Electronic Systems, Electric Motors, Electric Vehicle Drives, and Electronic Interfaces. Sales (2020): €1,561 million. Products: Advanced driver assistance systems, sensor technologies, integrated electronics, advanced safety domain control units, safety electronics such as airbag electronic control units, and crash sensors for
960-543: The London Stock Exchange to form the first intercontinental linkage of capital markets . In 1996, the SEC issued a report alleging that Nasdaq market makers fixed prices by avoiding "odd-eighths" quotes (at the time, stock prices were quoted in increments of an eighth of a dollar) to artificially widen spreads. The report was followed by a new set of rules for how Nasdaq handled orders. In 1998, it became
1008-656: The NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of market capitalization . On March 10, 2000, the NASDAQ Composite stock market index peaked at 5,132.52, but fell to 3,227 by April 17, and, in the following 30 months, fell 78% from its peak. In a series of sales in 2000 and 2001, FINRA sold its stake in the Nasdaq. On July 2, 2002, Nasdaq Inc. became a public company via an initial public offering . In 2006,
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#17327805093731056-579: The New York Stock Exchange . The exchange platform is owned by Nasdaq, Inc. , which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges . Although it trades stock of healthcare, financial, media, entertainment, retail, hospitality, and food businesses, it focuses more on technology stocks . The exchange is made up of both American and foreign firms, with China and Israel being
1104-636: The Autonomous Freight Network (AFN) that links four components: TuSimple's self-driving trucks, digital mapped routes, freight terminals and a system for monitoring autonomous trucks tracking shipments in real-time. In October 2022, the company's CEO, Chief Technology Officer, and co-founder, Xiaodi Hou, was fired by the company's board, which cited a "loss in trust and confidence" in Hou's judgment in connection with an alleged sharing of confidential data, blueprints, and employee information with
1152-829: The British automotive industry, including Jaguar, BMW, and Land Rover. ZF Great Britain Ltd. in Nottingham also has a remanufacturing facility and customer support operations. In the NAFTA region, ZF operates 16 locations, including an R&D center near Detroit and a manufacturing plant in Laurens County , South Carolina, which began production in 2013. ZF has a significant presence in Asia, focusing on China , Korea, Japan, and Australia. Liuzhou ZF Machinery Co., Ltd. in China,
1200-666: The EMiniCME. Below are the contract specifications for the Nasdaq 100 and derivatives. Nasdaq quotes are available at three levels: The Nasdaq Stock Market sessions, with times in the Eastern Time Zone are: 7:00 a.m. to 9:30 a.m.: extended-hours trading session (premarket) 9:30 a.m. to 4:00 p.m.: normal trading session 4:00 p.m. to 8:00 p.m.: extended-hours trading session (postmarket) The Nasdaq Stock Market averages about 253 trading days per year. The Nasdaq Stock Market has three different market tiers: After
1248-616: The United States (CFIUS) on suspicions of illicit technology transfer to Hydron in China. In February 2023, The Wall Street Journal reported that a member of the CFIUS panel recommended that the United States Department of Justice bring criminal charges of economic espionage against the management of TuSimple. At the time, a company spokeswoman denied being aware of any allegations of economic espionage against
1296-1169: The automotive industry. Sales (2020): €3,503 million. Products: Airbags, airbag inflators, seat belt systems, and steering wheels. Sales (2020): €1,539 million. Products: Braking control systems and advanced technologies that enhance the safety, efficiency, and connectivity of commercial vehicles. Sales (2020): €3,307 million. Products: Automated, manual, and powershift transmissions, drive components such as clutches and electric drives, ADAS technology including automated, camera and radar-based comfort and safety functions for trucks and buses, chassis systems, chassis components, and steering systems for vehicles. Sales (2020): €2,687 million. Products: Transmissions and axles for agricultural and construction machinery, driveline technology for material handling systems, rail and special vehicles, marine propulsion systems, aviation technology, gearboxes for wind turbines and industrial applications, and test systems for driveline and chassis technology. Sales (2020): €2,522 million. Brands: ZF, LEMFÖRDER, SACHS, TRW, and BOGE. TRW Automotive, based in Livonia, Michigan ,
1344-504: The company raised over US$ 1 billion in an initial public offering, leading to a valuation of almost $ 8.5 billion. The company was reportedly the first autonomous trucking company to go public on the NASDAQ composite index. In the first half of 2022, TuSimple reported $ 220.5 million in losses and $ 4.9 million in revenue. In December 2022, TuSimple announced a restructuring to focus more sharply on commercializing its newest technologies. As
1392-536: The company. In January 2024, the United States Department of Commerce halted TuSimple's attempt to ship Nvidia processors to a newly-formed subsidiary in Australia. ZF Friedrichshafen ZF Friedrichshafen AG , also known as ZF Group , originally Zahnradfabrik Friedrichshafen ( lit. ' Cogwheel Factory of Friedrichshafen ' ), and commonly abbreviated to ZF ,
1440-646: The continued price increases when selling market data . In December 2020, NASDAQ announced that it would strip its indexes of four Chinese companies in response to Executive Order 13959 . In September 2024, the European Commission said it had carried out an unannounced inspection at the offices of Nasdaq over potential anti-competitive practices. Nasdaq 100 futures are traded on the CME (Chicago Mercantile Exchange) while its derivatives, E-Mini Nasdaq 100 and Micro E-Mini Nasdaq 100 futures are traded on
1488-543: The eve of the United Nations Conference on Sustainable Development (Rio+20). In November 2016, chief operating officer Adena Friedman was promoted to chief executive officer , becoming the first woman to run a major exchange in the U.S. In 2016, Nasdaq earned $ 272 million in listings-related revenues. In October 2018, the SEC ruled that the New York Stock Exchange and Nasdaq did not justify
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1536-584: The field of autonomous vehicles suggest that there were issues with the company's technology. The investigation was closed in March 2023 and did not result in penalties. The company issued a statement that the National Highway Traffic Safety Administration declined to open a separate probe. The company also announced that it planned to expand autonomous freight services to Texas by the end of 2023. In March 2023, it
1584-468: The first stock market in the United States to trade online, using the slogan "the stock market for the next hundred years". The Nasdaq Stock Market attracted many companies during the dot-com bubble . Its main index is the NASDAQ Composite , which has been published since its inception. The QQQ exchange-traded fund tracks the large-cap NASDAQ-100 index, which was introduced in 1985 alongside
1632-468: The inventor of the zeppelin airship and engineer Alfred von Soden-Fraunhofen in 1915 in Friedrichshafen , Germany as a subsidiary of Luftschiffbau Zeppelin , to manufacture gears for zeppelins and other airships . The German Zahnradfabrik translates to 'gear factory' or cogwheel factory' in English. In 1999, the steering systems division was made separate and became the new ZF Lenksysteme GmbH,
1680-574: The largest foreign sources. "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority . On February 8, 1971, the Nasdaq stock market began operations as the world's first electronic stock market. At first, it
1728-757: The loan and restructuring will eliminate the need for further employee reduction. On 16 September 2014, the Wall Street Journal reported that ZF agreed to acquire TRW Automotive Holdings for $ 13.5 billion. The acquisition would create the world's second largest automotive parts concern, ranked just behind Robert Bosch GmbH . For clearing way to acquire TRW Automotive Holdings , ZF Friedrichshafen AG sold its stake in ZF Lenksysteme GmbH to Robert Bosch GmbH . ZF Lenksysteme GmbH has now been renamed as Robert Bosch Automotive Steering GmbH. In September 2020, ZF Friedrichshafen AG entered
1776-470: The monthly Stock Guides (stock guides and procedures) issued by Standard & Poor's Corporation. Over the years, it became more of a stock market by adding trade and volume reporting and automated trading systems. In 1981, Nasdaq traded 37% of the U.S. securities markets' total of 21 billion shares. By 1991, Nasdaq's share had grown to 46%. In 1992, the Nasdaq Stock Market joined with
1824-471: The production of steering systems and components. This includes steering columns, gears, pumps, Electric Power Steering (EPS), and Active Steering systems. In response to the increasing adoption of automatic transmissions in buses, ZF developed the ZF AS Tronic transmission. The company also produces a range of manual and automatic transmissions for trucks and buses. Notably, ZF transmissions, such as
1872-834: The status of the Nasdaq Stock Market was changed from a stock market to a licensed national securities exchange. In 2007, it merged with OMX, a leading exchange operator in the Nordic countries, expanded its global footprint, and changed its name to the NASDAQ OMX Group. To qualify for listing on the exchange, a company must be registered with the United States Securities and Exchange Commission (SEC), must have at least three market makers (financial firms that act as brokers or dealers for specific securities) and must meet minimum requirements for assets, capital, public shares, and shareholders. In February 2011, in
1920-485: The wake of an announced merger of NYSE Euronext with Deutsche Börse , speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a counter-bid of their own for NYSE. NASDAQ OMX could be looking to acquire the American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext's market value was $ 9.75 billion. Nasdaq was valued at $ 5.78 billion, while ICE
1968-435: The world's first robotic semi test on a public road, an 80-mile run from Tucson to Phoenix. In early 2022, the company announced that it had completed 550 miles of autonomous operation without humans in the vehicle on a route between Phoenix and Tucson, Arizona. This milestone distinguishes the company from its competitors, which require the presence of human safety drivers to take over when necessary. The company stated that it
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2016-445: The world. Its products include driveline and chassis technology for cars and commercial vehicles, along with specialized plant equipment such as construction equipment. It is also involved in the rail, marine, defense and aviation industries, as well as general industrial applications. ZF has 162 production locations in 31 countries with approximately 168,700 (2023) employees. The company was founded by Count Ferdinand von Zeppelin ,
2064-555: Was founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in 2001 and became NASDAQ Europe. In 2003, operations were shut down as a result of the burst of the dot-com bubble . In 2007, NASDAQ Europe was revived first as Equiduct and was acquired by Börse Berlin later that year. On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable Stock Exchanges Initiative on
2112-403: Was merely a "quotation system" and did not provide a way to perform electronic trades. The NASDAQ Stock Market eventually assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading, but there are still many securities traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as "OTC" in media reports and also in
2160-563: Was originally the automotive division of TRW Inc. , established in 2002. It specializes in designing, manufacturing, and selling automotive safety systems . With approximately 200 facilities and 66,100 employees across 26 countries, TRW Automotive was acquired by ZF Friedrichshafen in 2015 and now forms the Active & Passive Safety Technology division. In October 2022, ZF spun off the Passive Safety Systems division into
2208-540: Was ousted by Xiaodi Hou. In October 2022, Hou was fired after an internal investigation related to a possible technology transfer to a Chinese company Hou started. After Xiaodi Hou's termination, TuSimple's Chief Operations Officer, Ersin Yumer, was named interim CEO. In November 2022, in response to Hou's firing, co-founders Chen and Hou fired TuSimple's board of directors and reappointed Cheng Lu as CEO. In March 2023, Hou resigned from TuSimple's board of directors, stating
2256-570: Was reported that the company had completed 10 million combined testing, research, and freight delivery miles. In June 2023, TuSimple announced that it had completed a series of fully autonomous semi-truck runs on public roads in China. Also in June, the company announced it had completed self-driving truck tests in Japan, on Tōmei Expressway . Initial financial backers included Volkswagen , United Parcel Service , and U.S. Xpress Enterprises. In April 2021,
2304-662: Was valued at $ 9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it proceeded, an $ 11–12 billion counterbid. In December 2005, NASDAQ acquired Instinet for $ 1.9 billion, retaining the Inet ECN and subsequently selling the agency brokerage business to Silver Lake Partners and Instinet management. The European Association of Securities Dealers Automatic Quotation System (EASDAQ)
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