Exclusive-Self-driving startup Plus splits US and China operations amid tensions

SHANGHAI : Self-driving truck startup Plus has split its Chinese and U.S. operations and struck a deal in which a key shareholder, China's Full Truck Alliance , will focus on the China unit, Plus said on Wednesday.

Plus, which had headquarters in Suzhou, China, and California, separated its operations into two independent companies. Two of the three sources said that FTA, which held more than 30 per cent in Plus before the separation, had become the controlling shareholder of Zhijia Technology and that before the split the bulk of Plus' business came from China. Plus declined to comment on the size of FTA's shareholding in Zhijia Technology.

About two weeks after FTA raised nearly $1.6 billion via a listing on the New York Stock Exchange in June 2021, China's cyberspace regulator expanded an inquiry targeting national data security risks to FTA.

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