Xiaodi Hou, the co-founder and former CEO of self-driving trucking startup TuSimple, has urged a California district court to issue a temporary restraining order to stop the company from transferring its remaining U.S. assets to China, according to a recent court filing.
Hou, who plans to apply for a temporary restraining order in December during the next scheduled court hearing, is hoping to keep TuSimple from moving tens of millions of dollars in cash to China.
Hou’s declaration to the court, is the latest escalation in the battle between TuSimple and some of its shareholders, over the company’s attempts to use investor capital.
Hou -- who was ousted from his role as CEO in 2022 -- has publicly accused TuSimple and its leaders of funneling assets toward animation and gaming businesses owned by or with direct ties to Mo Chen, TuSimple co-founder and chairman of the board, under the guise of a business pivot.
Hou now heads a new autonomous trucking startup in Texas
Hou, who plans to apply for a temporary restraining order in December during the next scheduled court hearing, is hoping to keep TuSimple from moving tens of millions of dollars in cash to China.
Hou’s declaration to the court, is the latest escalation in the battle between TuSimple and some of its shareholders, over the company’s attempts to use investor capital.
Hou -- who was ousted from his role as CEO in 2022 -- has publicly accused TuSimple and its leaders of funneling assets toward animation and gaming businesses owned by or with direct ties to Mo Chen, TuSimple co-founder and chairman of the board, under the guise of a business pivot.
Hou now heads a new autonomous trucking startup in Texas
9 months ago
