Former TuSimple co-founder urges courts to block asset transfer to China

Former TuSimple co-founder urges courts to block asset transfer to China

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, 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. As of September, TuSimple had roughly $450 million in capital.

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