I’ve said for years this whole thing is a scam and it’s not practical and it just ain’t happening in our lifetimes The company is losing money. TuSimple reported only $4.9 million in revenue and $220.5 million in losses for the first half of 2022.
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The transport company for the production of self-driving trucks Tu Simple reported full losses for the past 2022. In total, in the second half of 2022, they managed to earn only $ 4.9 million. Losses in the same period amounted to as much as $ 220 million. Why did this happen?
The management of Tu Simple believes that the losses occurred due to people's lack of confidence in self-driving trucks. Perhaps it's the lack of work of a PR company that could not prove the safety of such a vehicle. Now the company plans to suspend the development of projects and the production of new self-driving trucks. Their goal is to improve the already released samples and offer customers the opportunity for more profitable cargo transportation.
Due to the current situation, Tu Simple is considering laying off as many as 700 employees. The San Diego-based tech company, which operates in Arizona, Texas, and China, now employs about 1,430 full-time employees. Layoffs are necessary to stabilize the current situation partially. However, the one-time dismissal of such a number of employees can lead to an increase in unemployment in the region.