Tesla Sued For 2 Billion

[RSchneider]

Not looking good for Tesla.
https://www.theverge.com/2018/5/1/17309430/tesla-lawsuit-nikola-motor-company-patent-trucks

 

[johnsnownw]

It's a patent lawsuit filed by a company headed by a charlatan. Tesla would not only win this lawsuit if it went to trial, but Nikola would lose their shirts.

Nikola flat out states that they're losing customers to the Tesla semi in the filing...that's their real motivation. Their truck isn't competitive, and they have sour grapes.

 

[Rob Croson]

Nikola revealed their truck in April 2017.
Tesla revealed their truck in November 2017.
Nikola was granted design patents in Feb/April 2018.

How can you infringe on a design patent that wasn't even issued until AFTER the event?

Nikola's trucks won't deliver to their first customer until 2021, according to Nikola itself. They are seeing their hydrogen-powered truck implode as all the electric manufacturers are planning on getting theirs out on the streets years ahead of them.

Ars Technica has a good article about it, including side-by-side views of the trucks. They're umm.... both narrow trucks with big black windshields. Sure sounds like a good basis for a two billion dollar lawsuit to me.

https://arstechnica.com/cars/2018/0...lion-over-alleged-design-patent-infringement/

 

[Ty]

Nikola revealed their truck in April 2017.
Tesla revealed their truck in November 2017.
Nikola was granted design patents in Feb/April 2018.

How can you infringe on a design patent that wasn't even issued until AFTER the event?

Nikola's trucks won't deliver to their first customer until 2021, according to Nikola itself. They are seeing their hydrogen-powered truck implode as all the electric manufacturers are planning on getting theirs out on the streets years ahead of them.

Ars Technica has a good article about it, including side-by-side views of the trucks. They're umm.... both narrow trucks with big black windshields. Sure sounds like a good basis for a two billion dollar lawsuit to me.

https://arstechnica.com/cars/2018/0...lion-over-alleged-design-patent-infringement/

Nikola unveiled their truck December 2016.


Nikola Motor is designing and building its own driverless, hydrogen fuel cell–powered Class 8 truck. The company posted a design of its Nikola One freight truck in May 2016. The company unveiled the Nikola One in December 2016. It is also developing a Nikola Two day-cab, which will begin testing in fall 2018. It’s expected to go into full production in 2021.

 

[Rob Croson]

Thanks for the updates. I apparently got some dates crossed.

 

[Coss]

Just read this story about Tesla, Musk, and the SEC
Interesting read:

Elon Musk settles with SEC
Sep. 29, 2018 5:24 PM ET|By: Clark Schultz, SA News Editor


Tesla (NASDAQ:TSLA) CEO Elon Musk has reached a settlement deal with the SEC that will keep him on as the company's CEO and also require him to resign as chairman within 45 days, according to CNBC.

Musk will pay a $20M fine as part of the agreement over the fraud lawsuit filed by the SEC on Thursday.

Sources indicate that as part of the deal, Tesla will appoint two new independent directors to the board. The EV automaker has been criticized in the past for the composition of the board.

Updated: The SEC has posted a press release on the settlement, including details on an agreement with the company itself. Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk’s communications. Tesla will also pay a $20M fine.

"The total package of remedies and relief announced today are specifically designed to address the misconduct at issue by strengthening Tesla’s corporate governance and oversight in order to protect investors," notes SEC Enforcement co-director Stephanie Avakian.

 

[CrimsonEclipse]

Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk’s communications.

I really like the guy, but he really needs a large cup of STFU.
I hope that this embarrassment will get him to learn to deal with his twitter addiction (not kidding)