A fight is brewing as TuSimple tries to move $450M to China and pivot from self-driving trucks to AI animation | TechCrunch

TuSimple, once a leader in self-driving trucks, is trying to move its assets to China to fund a new AI -generated animation and video game business.

The pivot has not only puzzled and enraged several shareholders, but also threatens to pull the company back into a legal morass mere weeks after reaching a preliminary settlement in a class action lawsuit.

TuSimple raised $648 million in venture money from Chinese VCs and mega companies such as Sina Corp. , as well as high-profile U.S. businesses like Nvidia , Goodyear and UPS .

TuSimple has been delisted for nine months , but the company is still registered with the SEC , which means it remains under U.S. scrutiny.

Concerned shareholders say they have little faith in management to generate value for them.

TuSimple China had in late 2023 begun beefing up its autonomous driving team in.

anticipation of shutting down US operations, several sources told TechCrunch .

One temporary restraining order was lifted July 31 ; the other remains in place.

Chen has been a central figure throughout TuSimple ’s nine-year history that extends beyond his co-founding status.

His connections helped the company land a critical investment in 2021 from Sina Corp. , which runs the biggest social media platform Sina Weibo .