Economy

Nikola begins electric semitruck war, hits Tesla with $2 billion patent suit

Nikola begins electric semitruck war, hits Tesla with $2 billion patent suit

A startup called Nikola Motor Company recently filed a $2 billion lawsuit against Tesla for patent infringement.

Tesla (NASDAQ:TSLA) is being sued by the Utah-based hybrid truck design company Nikola Motors (private) for alleged design patent infringement.

Specifically, the suit points out the similarities in the shape of the body, the wraparound windscreen and the easy-access mid-entry door.

Now though the lawyers are involved with Nikola alleging Tesla knocked off some of the designs of the Nikola cab. And this week, the company announced it is suing Tesla for $2 billion in damages, alleging that Musk's company infringed on USA patents received by Nikola for cab design features.

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Washington tight end Will Dissly runs a drill at the NFL football scouting combine, Saturday, March 3, 2018, in Indianapolis. He had a career day against Montana in September, catching five passes for 79 yards and two touchdowns.

The $2 billion price tag is based on the number of orders Tesla received and the bump in its stock price following the reveal. The company contends that Tesla had not announced plans to enter the electric truck market prior to that time.

In a statement to HDT, a Tesla spokesperson said, "It is patently obvious there is no merit to this lawsuit".

The Nikola truck's fuselage is also aerodynamic and is a unique design in the industry. "Upon information and belief, Tesla's market value jumped by roughly $2 billion after the Semi unveiling", the complaint notes.

The inventor Nikola Tesla, who died over 70 years ago, left behind a legacy that continues to inspire innovators today, and probably most famously visible in the electric vehicle manufacturer Tesla, which was named in homage to the Serbian.

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Nikola claims in its complaint that it has pre-sold about 7,000 trucks and that "total reservations are now worth more than $6.3 billion in revenue". "Further, any problems with the Tesla Semi will be attributed to the Nikola One, causing harm to the Nikola brand".

Nikola has sparred with Tesla before, including how it chose to use the first name of the same famous investor when founding the company.

In January of this year, Nikola announced plans to build a 1 million square-foot plant in Phoenix to produce both the Nikola One and smaller Nikola Two models, with the facility expected to be completed in 2024.

In response to a request for comment, a Nikola Motor spokesperson said, "The lawsuit speaks for itself".

San Antonio Spurs anxious Kawhi Leonard's group wants him in bigger market
It has been controversial as speculations abound that the injury resulted in tense relations between the club and player. But with Manu Ginobili and Parker possibly retiring, perhaps the Spurs are thinking of playing the long game.

Two months later, in July of 2016, Musk announced that Tesla was working on an electric truck of its own and meant to unveil it in 2017.


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