TuSimple Reaches Agreement on CFIUS Investigation

TuSimple Holdings Inc., a global leader in autonomous driving technology, has announced a settlement agreement with the Committee on Foreign Investment in the United States (CFIUS) concerning events from 2022. The agreement addresses temporary vacancies in key security positions and questions about the transfer of certain intellectual property. The settlement concludes these matters without TuSimple admitting any fault.

Key Highlights:

  • Settlement Reached: TuSimple has resolved issues with CFIUS related to 2022 events.
  • Security Vacancies: The agreement pertains to temporary vacancies in security roles.
  • Intellectual Property: Questions about the transfer of certain intellectual property were addressed.
  • No Admission of Fault: The settlement concludes without any admission of fault by TuSimple.
  • Focus on Future Development: The resolution allows TuSimple to focus on its next stage of development.

“We are pleased to put these matters behind us, with CFIUS having concluded its investigation,” said Cheng Lu, president and CEO of TuSimple. “This resolution enables us to better focus on implementing our next stage of development. We remain committed to collaborating closely with regulators and complying fully with our obligations to CFIUS.”

About TuSimple

TuSimple is a global autonomous driving technology company headquartered in San Diego, California. Founded in 2015, TuSimple is developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. The company aims to transform the $4 trillion global truck freight industry through its leading AI technology, enabling trucks to see 1,000 meters away, operate nearly continuously, and reduce fuel consumption by over 10% compared to manually driven trucks.

Global achievements include:

  • World’s first fully autonomous ‘driver-out’ semi-truck run on public roads in the U.S. and China.
  • Development of the world’s first Autonomous Freight Network (AFN).

Visit us at www.tusimple.com.

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