TuSolar updates on CEO termination: lack of candor cited; cooperating with SEC and CFIUS

TuSimple Holdings Inc.

Dr. Xiaodi Hou terminated as CEO, President, CTO, and Chairman on Oct 30, 2022, due to lack of candor and transparency with the Board.
Termination was linked to an ongoing Audit Committee investigation.
Company proactively reached out to SEC and is voluntarily responding to information requests.
Company also contacted CFIUS (with which it has a National Security Agreement) and is responding to additional inquiries.
Company states it is not aware of any FBI investigation and has received no FBI inquiries to date.

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