Fisker Karma
Fisker Automotive Inc. in Irvine said an arbitrator ruled that its founders did nothing wrong when the Irvine company developed an electric-powered luxury sports car after working as consultants for rival green car maker Tesla Motors.
In April, San Carlos-based Tesla sued Fisker, an affiliated design company Fisker Coachbuild LLC, and the founders of the company, Henrik Fisker and Bernhard Koehler, alleging that the defendants stole trade secrets and performed inferior work to gain the edge in the race to introduce an electric-powered sports car.
“Tesla’s assertion of violations of the Uniform Trade Secrets Act by Fisker were baseless and neither brought nor pursued in good faith,” the arbitrator said in a tentative ruling, according to a press release issued by Fisker.
Tesla could not be reached for comment.
Fisker plans to begin production of its $80,000 plug-in electric roadster, the Karma, in late 2009.
In separate news, Tesla announced on Sunday it has raised $40 million to produce cars and dismissed reports that it could file for bankruptcy.
Related stories …
- Green automaker Fisker raises $65 million in venture capital
- Fisker wins round against rival eco car maker
- Fisker sued by rival electric-automaker Tesla
- Made-in-O.C. luxury green car unveiled in Detroit
Other business news …
- Free coffee at Starbucks for voting? Get a load of these Election Day dining deals
- Car loans: Tougher to get but terms are good
- O.C. auto sales skid 17% through September
- O.C. home demand up 98% in a year
- Hottest housing news from October
- 1st rise in O.C. distressed homes for sale since July
- Our financial system ripe for more disasters
- Big-box retailer skips Halloween, offers Christmas deals
- Survival strategies: Businesses make cuts to stay afloat
- Small Business: October sales of O.C. businesses lowest since ‘04
