Co-founder takes control of TuSimple amid federal probe into self-driving trucking company

TuSimple Holdings Inc. co-founder Mo Chen has taken control of the self-driving trucking company as federal authorities continue to investigate TuSimple’s relationship with Chen’s other startup, a Chinese hydrogen-trucking company.

A TuSimple TSP filing with the Securities and Exchange Commission on Wednesday shows that 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 ousted its board of directors. Chen acquired the stake through stock purchases using his family trust and British Virgin Islands-based entities, according to the securities filing.

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