Xiaodi Hou, the co-founder and former CEO of self-driving truck startup TuSimple, is demanding that the board immediately liquidate the company and return all remaining funds – roughly $450 million – to shareholders “on a pure pro-rata basis, regardless of share class,” according to a letter that TechCrunch has viewed.
Hou is also suing TuSimple and his former co-founder Mo Chen, the company’s chief producer and director, to confirm that a 2022 voting agreement granting Chen control over TuSimple expired in November 2024, which Hou says would revert his voting rights back to him.
Hou has even created a website, SaveTuSimple.com, to raise awareness about his campaign to liquidate TuSimple and return cash to…
