Ex-CEO of TuSimple sets up hydrogen-focused L4 AD truck company HYDRON

Beijing (Gasgoo)- On June 10th, Chen Mo, founder and former CEO of the Nasdaq-listed autonomous driving developer TuSimple, announced the establishment of a hydrogen-focused L4 autonomous heavy-duty truck company, HYDRON. 

Photo credit: HYDRON

HYDRON is positioned as a dedicated firm revolving around the R&D, design, manufacturing, and sales of L4 autonomous driving hydrogen-fueled heavy-duty trucks and hydrogen-refueling infrastructures. The company is headquartered in Los Angeles, California. 

Sources close to the matter disclosed to a local media outlet that HYDRON has already completed two rounds of financing with over $80 million raised. The young startup is reportedly taking on its Series B with a fundraising target of $200 million and a pre-investment valuation of $1 billion. 

With the new business, HYDRON, Chen Mo will devote himself into the management and operation of the new company, striving to provide a safer, cleaner, and more efficient transportation industry with hydrogen-powered heavy-duty trucks.

HYDRON disclosed that the company aims to offer clean-energy long-distance freight solutions that enables L4 autonomous driving functions to autonomous driving software companies and major logistics players. 

The company plans to build manufacturing bases with its partners in North America, realizing vehicle production localization in the region. It is expected to start delivering the first-generation product in the third quarter of 2024. The volume produced L4 autonomous vehicles will be equipped with full-stack sensors, computing elements, and redundant actuators.