Rivian has asked a judge to dismiss a lawsuit filed by Tesla, arguing that two of the three claims in the case fail to state sufficient allegations of trade-secret theft and poaching talent and instead was an attempt to malign its reputation and hurt its own recruiting efforts. One remaining claim of breach of contract against four former Tesla employees was not included in this filing asking for "demurrer" or a dismissal because they do not relate directly to Rivian. Tesla did not respond to a request for comment.
The automotive industry is knee deep in the vast transition to electric, but one place where gas is still going strong is out on the water. Seattle startup Zin Boats wants to start what you might call a sea change by showing, as Tesla did with cars, that an electric boat can be not just better for the planet, but better in almost every other way as well. Piotr Zin, the company's namesake, has been designing racing sailboats for 20 years, while working in industrial design at BMW, GM and other major companies.
Tesla's stock, which traded at $1,475 after the announcement, is among the highest priced on Wall Street, and the Palo Alto, California-based company said in a press release it was looking to make its shares more accessible to employees and investors. Tesla's stock has surged over 200% this year, while shares of General Motors and Ford Motor declined on fallout from the coronavirus pandemic. Stock splits are a way for companies to make shares more accessible to retail investors, potentially attracting individual investors who make small trades.