Patrick Pleul/Pool via AP
Two men are accused of stealing and sharing Tesla trade secrets, according to The New York Times. Both are said to have used the information for their own company in China. The stolen technology relates to battery manufacturing and has given the victim company a “significant competitive advantage.”
In order to offer you even more content, we are currently testing the use of artificial intelligence. An editor researched the information for this article and used AI to create an article. It was checked by the editor before publication.
Two men are accused of leaking trade secrets from a leading U.S. electric vehicle maker.
The federal prosecutors did not mention the name of the electric car manufacturer, but only spoke of “victim company-1”. die New York Times and other publications identified the company as Elon Musks Tesla.
Klaus P., a Canadian citizen residing in China, was arrested Tuesday after being accused of providing undercover agents with trade secrets that belonged to a “leading U.S. electric vehicle company,” according to a statement explanation of US Department of Justice.
P. was accused of conspiring with co-defendant Yilong S. from Ningbo, China, who is still at large. The two were accused of using the stolen confidential information to set up their own China-based competitor, prosecutors said.
If convicted, P. faces a maximum sentence of 10 years in prison
P. and S. are accused of stealing a technology that is used in the production of batteries and for whose development the “Victim Company-1” spent at least 12 million euros. According to prosecutors, the technology gave the company a “significant competitive advantage” in battery manufacturing.
Assistant Attorney General Matthew G. Olsen of the Justice Department’s National Security Division said, “This blatant theft of advanced trade secrets related to battery components and assembly diminishes America’s technological lead.”
“When American economic information is stolen by foreign companies, it not only harms the companies affected but also threatens our financial infrastructure,” added James Smith, assistant director in charge of the FBI’s New York Field Office.
If convicted, P. faces a maximum sentence of 10 years in prison.
Tesla representatives did not respond to a request for comment from Business Insider outside of normal working hours. P. did not respond to a request from BI.
There is also exciting research here on YouTube:
External content not available
Do you have a contentpass subscription but still don’t want to miss out on displaying external content from third-party providers? Then click on “agree” and we will integrate external content and services from selected third-party providers into our offer to improve your user experience. You can view a current list of these third parties at any time in your privacy (link to privacy). In this context, usage profiles (including based on cookie IDs) can also be created and enriched, even outside the EEA. In this case, your consent also includes the transfer of certain personal data to third countries, including the USA in accordance with Article 49 Paragraph 1 Letter a) GDPR. Further details on data processing can be found in our data protection information and privacy policy, which are available at any time in the footer of our offer. You can exercise your consent to the integration of external content at any time in the footer of our offer via the “Revocation Tracking” link.
Agree and view external content
External content not available
Do you have a contentpass subscription but still don’t want to miss out on displaying external content from third-party providers? Then click on “agree” and we will integrate external content and services from selected third-party providers into our offer to improve your user experience. You can view a current list of these third parties at any time in your privacy (link to privacy). In this context, usage profiles (including based on cookie IDs) can also be created and enriched, even outside the EEA. In this case, your consent also includes the transfer of certain personal data to third countries, including the USA in accordance with Article 49 Paragraph 1 Letter a) GDPR. Further details on data processing can be found in our data protection information and privacy policy, which are available at any time in the footer of our offer. You can exercise your consent to the integration of external content at any time in the footer of our offer via the “Revocation Tracking” link.
Agree and view external content