Elon Musk's Tesla Accuses Rivian Of Poaching Employees, Stealing Battery Secrets

Tesla Inc (NASDAQ: TSLA) has again raised the employee poaching issue with electric truck and SUV maker Rivian Automotive Inc. 

What Happened: According to Bloomberg, Rivian hasn't stopped raiding Tesla's staff and stealing highly sensitive proprietary battery technology. 

Last year Tesla filed a lawsuit against Rivian at a state court in San Jose, California, for allegedly poaching its employees and stealing secrets. 

Tesla said it is the "number one target from which to acquire information" for the Plymouth, Michigan-headquartered EV firm.

According to a court filing last month, Tesla defectors were caught red-handed stealing the core technology for its next-generation batteries, the essential element for any electric vehicle. 

"Now apparently under pressure from investors after nearly a dozen years without producing a single commercial vehicle, Rivian has intensified its unlawful efforts," Tesla said in the filling.

Rivian responded, saying there is not enough evidence to justify Tesla's claims. "For several of its trade secrets, it has provided so little detail that Rivian is unable to ascertain what Tesla is claiming as its intellectual property, let alone whether what it is claiming is or could be secret," Rivian said in a filing.

Why It Matters: in 2019, Tesla also sued a former employee for stealing secrets and bringing them to Alibaba Group Holding Limited (NYSE: BABA) backed Xpeng Motors last year.

In August, Rivian filed for an initial public offering with a projected valuation of $80 billion. 

Tesla CEO Elon Musk had an interesting take on Rivian's proposed valuation when the news was announced on Twitter. Musk replied, "Rivian should have delivered at least one vehicle per billion of its valuation before its IPOs."
Related Link: 2 Ways Rivian Might Have Big Initial Release In US And Fight Off Competition