Nikola drops $2 billion patent infringement suit against Tesla
CNN
Upstart electric truck maker Nikola is dropping its $2 billion patent infringement lawsuit against Tesla in which it charged its larger, more established rival stole parts of Nikola's design for a heavy duty truck.
The suit was originally filed in 2018, when Tesla was still losing money, running short on cash and its stock was struggling. At the time, Nikola was a hot start-up with promises of hydrogen-powered semi-trucks and pickups and claims of a massive order book.
Since then Tesla has gone from perennially losing money to profits, and now has a soaring market value worth more than $1 trillion. It's more valuable than the world's 12 largest automakers.
President Joe Biden asserted Friday that Hamas has been degraded to a point where it can no longer carry out the type of attack that launched the current 8-month conflict in Gaza, laying out a three-phase proposal Israel has submitted to wind down the grinding crisis as he declared, “It’s time for this war to end.