Whew.
A federal judge has dismissed a lawsuit accusing the heads of San Antonio-based DeLorean Motors ReImagined of stealing intellectual property from a previous employer, according to an Express-News report.
Last August, electric-vehicle maker Karma Automotive sued DeLorean CEO Joost de Vries and three other execs at the startup car company, claiming they stole trade secrets. The suit alleged the four — all of whom previously worked at California-based Karma — stole trade secrets and used them to establish DeLorean.
DeLorean is working to bring back the ’80s sports car featured in the Back to the Future movies as a an electric vehicle.
On Sept. 8, Judge Keith Ellison approved a stipulation of dismissal with prejudice, meaning the suit can’t be refiled, according to the Express-News. De Vries told the paper that his company and Karma reached an out-of-court agreement.
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Earlier this year, the startup cut the number of reservation spots for its Alpha 5 model from 9,251 to 4,000, citing supply chain bottlenecks, Barron’s reports. The company has said it expects to deliver its first models sometime in 2025 to customers who made a $3,500 deposit.
See here, here, and here for the background. As before, that Express-News story is paywalled, so this and Texas Public Radio is what you get. Hopefully the next story of interest will be about the first cars rolling off their assembly lines.