Mexican Media Brands
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.
#legal #hybrid
Share
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.
RELATED CONTENT
-
China Prepares to Sanction U.S. Carmaker for Price Fixing
China is preparing to fine an undisclosed U.S. carmaker for ordering its distributors to fix prices beginning in 2014, according to China Daily. Media reports say General Motors Co. is the target.
-
Another Japanese Supplier Pleads Guilty to U.S. Price Fixing
Maruyasu Industries Co., a Japanese supplier of steel fuel and brake lines and engine components, has pleaded guilty to U.S. charges of conspiring to rig bids and fix prices on its products.
-
Grand Jury Indicts Former FCA Executive In Union Payoff Scheme
A former labor relations executive at Fiat Chrysler Automobiles NV has been charged with making more than $2.2 million in illegal payments to himself and a United Auto Workers union official in Detroit.