Xiaodi Hou, co-founder and former CEO of TuSimple, has urged the Chinese autonomous trucking company’s board to liquidate its assets.

He proposes distributing approximately US$450 million to shareholders by share class.

Hou claims TuSimple’s stock trades at US$0.24 per share, although it holds US$1.93 per share in cash.

TuSimple, a pre-revenue company, closed its US operations and delisted from the stock market recently.

Hou’s actions coincide with TuSimple’s lawsuit against him, alleging he stole trade secrets for his new company, Bot Auto.