UPS Invests in Autonomous Trucking Company, Tests Self-Driving Tractor Trailers
15 Août 2019 - 3:00PM
- UPS Ventures takes minority stake in TuSimple, completing
transaction on August 13, and complementing ongoing purchased
transportation services
- UPS, TuSimple studying potential network efficiency benefits of
future autonomous systems
- Law requires driver in vehicle at all times
- TuSimple believes its technology can reduce the costs of
shipping goods via tractor trailer by 30%
UPS (NYSE:UPS) today said its venture capital arm, UPS Ventures,
has made a minority investment in autonomous driving company
TuSimple. Together, both companies are testing self-driving tractor
trailers on a route in Arizona to determine whether the vehicles
can improve service and efficiency in the UPS® network. This is an
extension of the ongoing commercial relationship between UPS and
TuSimple in which UPS has purchased transportation services from
TuSimple.
The work with autonomous driving company TuSimple began with the
goal of helping UPS better understand the requirements for Level 4
Autonomous trucking in its network. L4 Autonomous means the
vehicle’s onboard computer is in complete control at all times,
eliminating manual intervention. Currently, however, laws
regulating L4 Autonomous driving require a driver in the vehicle at
all times to take over operation if needed.
Throughout the ongoing tests, UPS has been providing truckloads
of goods for TuSimple to carry on a North American Freight
Forwarding route between Phoenix and Tucson, Arizona. The company
initiated self-driving service in May, 2019, with a driver and
engineer in the vehicle. TuSimple and UPS monitor distance and time
the trucks travel autonomously, safety data and transport time.
“UPS is committed to developing and deploying technologies that
enable us to operate our global logistics network more
efficiently,” said Chief Strategy and Transformation Officer, Scott
Price. “While fully autonomous, driverless vehicles still have
development and regulatory work ahead, we are excited by the
advances in braking and other technologies that companies like
TuSimple are mastering. All of these technologies offer significant
safety and other benefits that will be realized long before the
full vision of autonomous vehicles is brought to fruition – and UPS
will be there, as a leader implementing these new technologies in
our fleet.”
Founded in 2015, TuSimple’s mission is to bring the first
self-driving truck to market, to increase safety, decrease
transportation costs and reduce carbon emissions. TuSimple develops
technology that will allow shipping companies to operate
self-driving class 8 tractor-trailers – those that exceed 33,000
pounds and typically have three or more axles.
UPS contracts with third-party trucking companies during its
peak shipping season. TuSimple believes it could cut average
purchased transportation costs by 30%.
“We are honored by UPS’s strategic investment and their vote of
confidence in TuSimple, this proves their commitment to staying at
the forefront of innovation,” says TuSimple’s Founder, President
& CTO, Xiaodi Hou. “TuSimple is confident that it can
accelerate bringing the first self-driving truck to market to
increase road safety.”
UPS’s tests with TuSimple are part of an advanced technology
evaluation for vehicles in the UPS Global Smart Logistics Network.
UPS is investing in Internet of Things (IoT) technology, Artificial
Intelligence (AI) and advanced analytics to increase fuel
efficiency and improve customer service to ensure that UPS remains
the shipper of choice.
One way UPS explores new technologies is via its internal
venture capital group UPS Ventures, which was established in 1997
as the UPS Strategic Enterprise Fund (SEF). In 2018, the SEF
refined its objective and took the new name UPS Ventures. The group
now seeks specific capabilities that UPS can integrate into its
network immediately. UPS Ventures takes a minority stake in
technology startups and actively partners with these companies to
achieve technology goals for the UPS Smart Logistics Network.
“The UPS Ventures mission is to build collaborative
relationships with early-stage companies that provide capabilities
and insights that accelerate technological advancements within our
network,” said UPS Ventures Managing Partner, Todd Lewis,. “UPS
Ventures collaborates with startups to explore new technologies and
tailor them to help meet our specific needs.”
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a
broad range of solutions including transporting packages and
freight; facilitating international trade, and deploying advanced
technology to more efficiently manage the world of business. UPS is
committed to operating more sustainably – for customers, the
environment and the communities we serve around the world.
Headquartered in Atlanta, UPS serves more than 220 countries and
territories worldwide. UPS was awarded America’s Best Customer
Service company for Shipping and Delivery services by Newsweek
magazine; Fortune magazine’s Most Valuable Brand in Transportation;
and top rankings on the JUST 100 list for social responsibility,
the Dow Jones Sustainability World Index, and the Harris Poll
Reputation Quotient, among other prestigious rankings and awards.
The company can be found on the web at ups.com or pressroom.ups.com
and its corporate blog can be found at longitudes.ups.com. The
company’s sustainability eNewsletter, UPS Horizons, can be
found at ups.com/sustainabilitynewsletter. Learn more about
our sustainability efforts at ups.com/sustainability. To get UPS
news direct, follow @UPS_News on Twitter. To ship with UPS,
visit ups.com/ship.
Glenn Zaccara, UPS Media Relations
(404) 828-4663
gzaccara@ups.com
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