Tesla sues former battery supplier Matthews International, alleging stolen trade secrets and $1B+ damages.
Tesla has filed a lawsuit against its former supplier, Matthews International, accusing the company of stealing trade secrets related to its battery-manufacturing process and sharing them with Tesla's rivals. The legal action claims that Matthews International caused damages potentially exceeding $1 billion due to the alleged misuse of Tesla's innovative dry electrode battery technology. This technology is crucial for enhancing the performance and cost-efficiency of batteries, a core component of Tesla's business strategy.
June 17, 2024
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