Federal authorities continue to investigate entity’s relationship with a Chinese startup tied to co-founder Mo Chen
U.S. government regulators are investigating whether the self-driving trucking company TuSimple defrauded investors by sharing its technology with a Chinese startup, according to people familiar with the matter. WSJ tech reporter Heather Somerville joins Zoe Thomas to discuss the investigations and what they say about the global race to develop self-driving tech. Photo: TuSimpleTuSimple Holdings Inc.
A TuSimple filing with the Securities and Exchange Commission on Wednesday shows that Mr. Chen has 59% of the voting power at the San Diego-based company, giving him control as of Nov. 9, a day before the company announced it had . Mr. Chen acquired the stake through stock purchases using his family trust and British Virgin Islands-based entities, according to the securities filing.