This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Aptera Corp. draws ire of Zaptera USA, which purchased Aptera Motors' trade secrets, patents

( August 8, 2024, 10:10 GMT | Official Statement) -- MLex Summary: Zaptera USA says that when it acquired the liquidated assets of Aptera Motors in 2012 for $1.5 million, its purchase included patents and trade secrets now being utilized by the "relaunched" Aptera Corp., maker of solar-powered electric vehicles. In a complaint filed in the Southern District of California, Zaptera USA seeks damages and injunctive relief for what it calls willful infringement and misappropriation by Aptera Corp. Zaptera singled out filings with the US Securities and Exchange Commission showing the defendant has secured in excess of $100 million in initial funding and more than 47,000 pre-order reservations, generating an estimated $1.7 billion revenue upon delivery. Aptera Corp., who allegedly re-hired several Aptera Motors engineers, sold and pre-sold the vehicles despite cease-and-desist communications and with full knowledge that the vehicles "practice patents and trade secrets owned by Plaintiff," the complaint alleges.See document below....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections