Nikola Motors drops the $ 2 billion lawsuit against Tesla

[ad_1]

Nikola Tesla may have been pleased that both of his names were employed by electric car companies, but perhaps less so Nikola sued Tesla, and vice versa. Now Nikola Corp. reportedly dropped its $ 2 billion patent infringement lawsuit against Tesla Inc. because the company’s founder, Nikola Trevor Milton, is facing criminal charges for fraud charges, Bloomberg reported.

According to the San Francisco court filing, both companies agreed to withdraw all claims and counterclaims against each other. Nikola accused Tesla of copying several patented designs for the design of the windshield, fuselage and side doors. Tesla denied all allegations and filed a counterclaim.

In 2016, Nikola introduced the Nikola One hydrogen-powered semi-truck with a promise of 800-1200 miles of pollution-free range. However, the SEC accused him of deceiving investors, in one case via a video in which the truck appeared to be moving under drive when it was simply rolling down the hill. Director General Trevor Milton was later charged by the federal grand jury with two counts of securities fraud and one of wire fraud. He denied the allegations.

All products recommended by Engadget are selected by our editorial team, regardless of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn a commission for the partners.

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *