Self-driving truck startup TuSimple Holdings Inc. filed for a U.S. preliminary public inventory providing on Tuesday, becoming a member of a clutch of firms trying to capitalize on rising investor curiosity within the sector.

The corporate didn’t disclose the variety of shares it plans to supply to traders or the worth vary for its providing.

Dozens of startups, automakers, and enormous expertise firms, together with Google’s Waymo and China-based Xpeng Inc., are accelerating work on self-driving automobile programs to money in on the expertise, which is anticipated to convey a sea change within the transportation trade.

Different self-driving firms akin to Velodyne, Luminar Applied sciences and Aeva have additionally lately filed to go public, banking on a historic increase in U.S. capital markets.

Corporations raised roughly $167 billion via inventory market floats in 2020, in accordance with Dealogic — a document that may be eclipsed once more this 12 months, in accordance with funding 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 Worldwide Corp. which are slated to begin manufacturing in 2024.

It launched a self-driving freight community partnership with UPS and Berkshire Hathaway Inc.’s provide chain unit, McLane, in July that it stated needs to be operational nationwide by 2024.

Founded in 2015, TuSimple was below the scanner of the Committee on Overseas Funding within the U.S. as a result of its ties with China, The Wall Avenue Journal reported earlier. However the committee didn’t pursue any motion in opposition to the corporate.

TuSimple’s income greater than doubled to $1.8 million within the 12 months ended Dec. 31, 2020.

Web loss attributable to widespread stockholders widened to $198.8 million, from a lack of $145 million a 12 months earlier.

Morgan Stanley, Citigroup and J.P. Morgan are the lead underwriters for the providing.