Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

TuSimple Down 8% as April Accident Draws Attention

Published 08/01/2022, 01:43 PM
Updated 08/01/2022, 01:47 PM
© Reuters.  TuSimple (TSP) Down 8% as April Accident Draws Attention

By Michael Elkins

An April 6th accident involving a truck fitted with TuSimple (NASDAQ:TSP) autonomous driving technology has garnered attention from safety regulators following a June report that contradicts the company’s claim that the accident was caused by human error.

An internal TuSimple report, viewed by The Wall Street Journal, said the semi-tractor truck abruptly veered left because a person in the cab hadn’t properly rebooted the autonomous driving system before engaging it, causing it to execute an outdated command. The internal account reported that the left-turn command was 2 1/2 minutes old and should have been erased from the system but wasn’t.

Researchers at Carnegie Mellon University said it was the autonomous-driving system that turned the wheel and that blaming the entire accident on human error is misleading.

“This information shows that the testing they are doing on public roads is highly unsafe,” said Phil Koopman, an associate professor at Carnegie Mellon who has contributed to international safety standards for autonomous vehicles, referring to the company’s disclosures.

TuSimple said that after the accident, it modified its autonomous-driving system so that a human can’t engage it unless the computer system is fully functional. A move that was described by a former employee as “long overdue.”

The TuSimple spokesman, in response, said the April accident was the only one in which a company truck was responsible for an accident.

TSP is down 8.75% in mid-day trading.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.