Honeycomb Energy responded to the lawsuit

CATL filed a lawsuit against its rival Honeycomb Energy in the Intermediate People's Court of Ningde City, Fujian Province, for unfair competition, and the case will be heard this month. In response to this matter, Honeycomb Energy responded to Sina Technology that it has paid attention to the relevant media reports on the Ningde era suing our company for unfair competition.

According to multiple court judgments obtained by Jiemian News, from 2018 to 2019, nine CATL employees joined Wuxi Tianhong and Baoding Yixin respectively after resigning to provide services for CATL’s competitor Honeycomb Energy. The court found that both Wuxi Tianhong and Baoding Yixin were related parties of Honeycomb Energy. Ningde Times believes that these nine people violated the "Confidentiality and Competition Restriction Agreement" (hereinafter referred to as the competition agreement) signed with them, so they are required to compensate 1 million yuan in liquidated damages.

According to the statistics of the Korean market research institution SNE, CATL had a market share of 32.6% in the global power battery field last year, ranking first in the world for five consecutive years. Honeycomb Energy entered the top ten globally with a market share of 1%. In 2021, the company's power battery installed capacity will grow by more than 430% year-on-year.

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