Nikola Drops its $2 Billion USD Lawsuit Against Tesla
After Nikola’s founder was charged with securities fraud.
Nikola Corp. and Tesla Inc. have been embroiled in a patent lawsuit since 2018. The two companies, who happen to both be named after famed inventor Nikola Tesla. and are both motor companies focusing on reducing carbon emissions, have now decided to drop all claims against each other.
Nikola sued Tesla in 2018, accusing the much larger conglomerate of copying its patented designs, including its “wrap-around U-shaped windshield, fuselage and side door,” according to Bloomberg. Tesla denied the accusations and decided to fire back with a counterclaim.
However, the case was put to a standstill last year, and now fully dropped, as Nikola’s founder Trevor Milton was alleged to have misled investors about the company’s future and was subsequently charged with securities fraud. Milton is now seeking to dismiss the case.
In other news, Snap sued the U.S. patent office to trademark the word “Spectacles.”
