China resident stole Tesla trade secrets, sentenced to 2 years in US prison

From Investing.com: 2024-12-16 18:31:20

A German-Canadian resident of China, Klaus Pflugbeil, was sentenced to 24 months in U.S. prison for stealing Tesla’s electric vehicle trade secrets. Pflugbeil conspired with Yilong Shao to sell the secrets to FBI agents. Shao remains at large. The U.S. Assistant Attorney General emphasized national security implications of the theft. Pflugbeil was charged in New York in March for building an EV battery business on stolen trade secrets from a U.S.-based electric vehicle company, likely Tesla. Pflugbeil and Shao’s venture has locations in China, Canada, Germany, and Brazil, making the same battery assembly equipment as their previous employer. Shao met undercover agents at a Las Vegas trade show, where Pflugbeil sent them a business proposal containing Tesla’s trade secrets.



Read more at Investing.com: China resident who stole Tesla trade secrets gets 2-year US sentence By Reuters