The electric car industry made headlines today as Reuters reported that the high-profile Tesla Motors has filed a suit against Henrik Fisker, the owner of Fisker Coachbuild and a new rival on the electric car scene.
Fisker Coachbuild joined with Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) to form Fisker Automotive, Inc. which unveiled the Karma high-performance hybrid-electric sedan in January–a vehicle that is considered a clear rival to Tesla’s all-electric vehicles.
Tesla said it paid Fisker almost $800,000 in 2007 to design the interior of its forthcoming sedan, called WhiteStar. The company is accusing Fisker of fraud, misappropriation of trade secrets and breach of contract, saying his access to Tesla’s business plan and other information was unfairly used in developing Fisker Automotive’s competing vehicle.
Tesla also claims Fisker purposely provided substandard designs for the WhiteStar, causing a six-month delay of the vehicles release date in 2010.
The suit also names Fisker Coachbuild’s chief operating officer, Bernhard Koehler, and asks the court to bar Fisker from using Tesla trade secrets and award punitive damages of an unspecified amount for lost profits.
Fisker Automotive has received funding from well-known VC firm, Kleiner Perkins Caufield and Byers. Tesla Motors is owned, in part by PayPal founder and entrepreneur Elon Musk.
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