Tesla’s definition of “good faith,” outlined on its website, served as the basis for the lawsuit. The Delaware lawsuit against Maxwell in 2019 provided the opening for Tesla to retaliate against CAP-XX under its pledge.
Corporate Maneuvers
Adding a layer of complexity, Tesla’s acknowledgment on Twitter in 2021 revealed that Maxwell had been sold to UCAP Power Inc., while retaining critical electrode technology. Despite this, Tesla’s July lawsuit referred to Maxwell as “a subsidiary of Tesla.”
Counsel for both parties remained tight-lipped on Friday, offering no immediate comments.
