SVOLT to pay compensation to CATL
Chinese battery cell manufacturers CATL and SVOLT have settled a legal dispute. CATL had sued SVOLT in February 2022 after nine former CATL employees moved to two SVOLT subsidiaries.
These individuals allegedly breached non-compete agreements, according to CATL. Under the settlement, CATL will receive 5 million yuan (equivalent to about US$740,000) in compensation from SVOLT.
CATL had also sued its smaller rival China Lithium Battery Technology (CALB) last year for alleged infringements of its intellectual property.