US Probing Autonomous Trucking Company for Tech Transfers to China, Report Says
U.S.-based TuSimple Holdings, which provides self-driving truck and autonomous freight shipping technology, is being investigated for whether it illegally transferred technology to a Chinese startup, The Wall Street Journal reported Oct. 30. The U.S. company is being probed by the FBI, the SEC and the Committee on Foreign Investment in the U.S., which are examining its “relationship” with Hydron, the report said. Hydron is an autonomous truck startup led by one of TuSimple’s co-founders. The agencies are examining whether TuSimple shared with Hydron “intellectual property developed in the U.S.” and whether that “defrauded TuSimple investors by sending valuable technology to an overseas adversary,” the report said.
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Treasury has said it doesn’t comment on potential CFIUS investigations, and TuSimple told the WSJ that it isn’t aware of any FBI or SEC investigations. The company earlier this year said it entered into a national security agreement with CFIUS involving a 4-year-old transaction with Sun Dream, an affiliate of Chinese technology company Sina (see 2205270034).