Self-driving truck startup TuSimple files for U.S. stock offering

Self-driving truck startup TuSimple Holdings Inc. filed for a U.S. initial public stock offering on Tuesday, joining a clutch of companies looking to capitalize on rising investor interest in the sector…

Other self-driving companies such as Velodyne, Luminar Technologies and Aeva have also recently filed to go public, banking on a historic boom in U.S. capital markets.

Companies raised roughly $167 billion through stock market floats in 2020, according to Dealogic — a record that might be eclipsed again this year, according to investment bankers.

San Diego, Calif.-based TuSimple, backed by Volkswagen’s commercial trucking unit Traton and United Parcel Service Inc., is developing self-driving trucks with Navistar International Corp. that are slated to start production in 2024.