(Yicai Global) March 24 -- TuSimple Holdings, a self-driving truck startup with operations both in China and the US, has filed to go public on the Nasdaq.

The autonomous driving company would get listed on the Nasdaq Global Select Market, one of the bourse's three tiers with stringent financial requirements, the California-headquartered firm said in its regulatory filing. The ticker would be 'TSP.'

Founded in 2015, TuSimple has developed L4 autonomous software and hardware technologies at its offices in the US and Shanghai. The company counts Volkswagen Group's unit Traton Group, China's CDH Investments, and US tire supplier Goodyear as some of its investors.

TuSimple didn't yet disclose the initial public offering's pricing details. Its underwriters include Morgan Stanley, CitiGroup, and J.P. Morgan.

Revenues of the self-driving truck market could tally USD4 trillion each year, benefiting from the expanding e-commerce sector, TuSimple estimated.

The company is losing money. In 2020, the startup more than doubled its net loss to USD177.9 million from a year ago. Its revenue rose to USD1.8 million from USD710,000. Its cash holdings were USD310.8 million as of last December.

TuSimple warned its potential investors about risks. The success of commercializing the firm's autonomous freight network, which consists of self-driving trucks and maps, is uncertain and the company's profitability relies on original equipment manufacturers, it said.

Editor: Emmi Laine, Xiao Yi