Tesla and Rivian reached a "conditional" settlement regarding the technology theft lawsuit
Tesla stated that the company has reached a "conditional" settlement regarding the lawsuit filed in 2020, which accused Rivian Automotive of poaching employees and stealing electric vehicle trade secrets. Tesla did not disclose the specific details of the agreement in court documents, but it informed a judge in California that the company expects to seek dismissal of the case by December 24, after the terms of the agreement are fully completed. The dispute began over four years ago when Tesla accused Rivian of poaching employees in a "shocking manner" and stealing trade secrets. Tesla later stated that some employees were "caught in the act" stealing core technology for its next-generation batteries. Rivian denied any wrongdoing and criticized the lawsuit as an attempt to suppress competition in the electric vehicle market. Rivian and a group of former Tesla employees failed to successfully dismiss the lawsuit, with the trial scheduled for March next year
According to Zhitong Finance APP, Tesla (TSLA.US) stated that the company has reached a "conditional" settlement regarding the lawsuit accusing Rivian Automotive (RIVN.US) of poaching employees and stealing electric vehicle trade secrets from 2020.
Tesla did not disclose the specific details of the agreement in court documents, but it informed a judge in California that the company expects to seek dismissal of the case by December 24 after the terms of the agreement are satisfactorily completed.
The dispute began more than four years ago when Tesla accused Rivian of poaching employees in a "shocking manner" and stealing trade secrets. Tesla later stated that some employees were "caught in the act" stealing core technology for its next-generation batteries.
Rivian denied any wrongdoing and criticized the lawsuit as an attempt to suppress competition in the electric vehicle market.
Rivian and a group of former Tesla employees failed to successfully dismiss the lawsuit, with the trial scheduled for March next year