LOS ANGELES - Faraday Future Intelligent Electric Inc. (NASDAQ: NASDAQ:FFIE), an electric vehicle and mobility company, has filed a lawsuit in China against a former executive, Ding Lei, and his company, Human Horizons, for alleged trade secret infringement and unfair competition.
The legal action, initiated in the Intermediate People's Court of Shenzhen, China, seeks monetary damages and demands that Human Horizons cease using Faraday Future's trade secrets related to its FF 91 model.
The complaint accuses Ding Lei of utilizing Faraday Future's confidential information to design, develop, produce, and sell products that allegedly infringe upon the FF 91's trade secrets. The company is also requesting the court to order Human Horizons to stop selling the disputed products and providing after-sales service for them.
Faraday Future, which positions itself as a pioneer in the "Ultimate AI TechLuxury" market for electric vehicles, is committed to advancing electric vehicle technology. The company emphasizes its role as a software-driven entity and aspires to create a shared intelligent mobility ecosystem.
The lawsuit represents a significant legal step for Faraday Future as it seeks to protect its intellectual property and maintain competitive advantage in the rapidly evolving electric vehicle industry. The company has not disclosed the amount of monetary damages it is seeking.
The legal action comes as Faraday Future continues to navigate a challenging financial landscape, with the company previously reporting losses and facing barriers to growth. Despite these challenges, Faraday Future remains focused on its mission to revolutionize intelligent and AI-driven mobility.
This news is based on a press release statement from Faraday Future Intelligent Electric Inc. The company has not commented further on the ongoing litigation, and the outcome of the lawsuit remains uncertain. Investors and industry observers will be closely monitoring the case for its implications on Faraday Future's business and the broader electric vehicle market.
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