Plus’ move to split its China and US businesses follow similar measures by the likes of US venture capital firms Sequoia and GGV Capital amid heightened geopolitical tensions between the world’s two biggest economies. — AFP
SHANGHAI: Self-driving truck startup Plus has split its Chinese and US operations and struck a deal in which a key shareholder, China’s Full Truck Alliance (FTA), will focus on the China unit, Plus says.
The company told Reuters it had completed the split. Three sources familiar with the matter had said that FTA, known as China’s “Uber for trucks”, and Plus were looking to insulate themselves from rising US-China tensions and tightening regulatory oversight from Beijing.
