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Faraday Future Sues Former Execs Over Trade Secrets
Electric car startup Faraday Future Inc. claims in a lawsuit that two of its former executives stole trade secrets to help them set up their own EV company.
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Electric car startup Faraday Future Inc. claims in a lawsuit that two of its former executives stole trade secrets to help them set up their own EV company.
Faraday’s complaint says company secrets were taken by Stefan Krause, its former chief financial officer, and Ulrich Kranz, it former chief technology officer. The filing also says the two men lured at least 20 former Faraday employees to join their new company, Evelozcity Inc.
Struggling Faraday is headed by Jian Yueting, the Chinese entrepreneur who was pushed out as CEO of Leshi Internet Information & Technology Corp. last July as the company’s financial distress grew. Jia continues as head of Faraday and is trying to raise funding to launch production.
Faraday claims employees who left to join Evelozcity were encouraged to download technical documents and vendor information. Evelozcity assert it didn’t need and didn’t obtain data from Faraday.
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