Musk’s SolarCity Sued for Intellectual Property Theft

Elon Musk’s SolarCity has been accused of intellectual property theft by Cogenra Solar and Khosla Ventures.

In a lawsuit filed in San Francisco on Monday, the parties accused SolarCity of gaining undue advantage of Cogenra’s Shingling technology that helps in manufacturing high-efficiency commercially viable solar panels.

SolarCity and its subsidiary Silevo misappropriated Cogenra’s trade secrets, manufacturing processes, and other intellectual property to give themselves a competitive advantage and head start in developing shingled-cell solar modules, Cogenra said in the lawsuit.

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Hedge Fund Manager Who Spotted Fraud at Enron Calls Tesla ‘The Anti-Amazon’

Asked if Musk might not do with Tesla what Jeff Bezos has done with Amazon  —which continued to be one of the the market’s best-performing stocks despite being unprofitable until very recently—Chanos rejected the idea. “This is anything but,” Chanos said of Tesla. “This is the anti-Amazon.”

The big difference between Tesla and Amazon: While Amazon may have lost money on the bottom line, it always had enough revenue coming in that it never needed to go back to the capital markets to raise outside funds since it went public almost two decades ago, Chanos said. That’s far from true for Tesla.

Tesla is going to “continue to lose lots of money,” Chanos said. “And continue to need more and more capital.”

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