Aerial Rivalry: Archer Hits Back at Joby in Espionage Countersuit
Archer files countersuit against fellow electric air taxi maker Joby, alleging concealed Chinese ties and corporate espionage. The feud between the two rivals heats up.
The heated rivalry between two leading electric air taxi makers, Archer Aviation and Joby Aviation, has escalated with Archer filing a countersuit against Joby. Archer's lawsuit comes four months after Joby sued its rival for alleged 'corporate espionage.' Now, Archer is striking back, making its own claims against Joby.
Archer's countersuit alleges that Joby concealed ties to China during its merger with a special purpose acquisition company (SPAC) last year. The lawsuit claims Joby failed to disclose that one of its major investors, Fidelity Management & Research Company, has significant investments in Chinese companies. This, Archer argues, should have been revealed to regulators and investors.
{{IMAGE_PLACEHOLDER}}Source: TechCrunch
