Cofounder Xiaodi Hou denied a report that tied him to investigations by federal authorities over its relationship with a hydrogen truck startup.
, citing people familiar with the matter. The concern is that executives including Hou failed to properly disclose the relationship with Hydron, a potential breach of fiduciary duties and securities law, according to the people who spoke anonymously. Investigators are also probing whether TuSimple shared its U.S.-developed autonomous driving technology with Hydron, a company with Chinese operations, a potential violation of U.S. rules, the report said.on Monday.
The Caltech-trained computer scientist created TuSimple with Chen in 2015 with the goal of perfecting autonomous driving for heavy-duty trucks rather than robotaxis. Given the somewhat easier operating environment that semis experience–highways rather than crowded urban streets–and a persistent shortage of long-haul truck drivers, Hou believed it would be a faster path to commercialization.
“My motivation has always been and continues to be chasing that visionary dream,” Hou wrote today. “The painful truth is that on Oct. 30, the Board voted to remove me as CEO and Chairman of the Board without Cause. Unfortunately, the Board’s processes and conclusions have been questionable at best. As the facts come to light, I am confident that my decisions as CEO and Chairman, and our vision for TuSimple, will be vindicated.
France Dernières Nouvelles, France Actualités
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