Volkswagen Acknowledges Elektros' EV Charging Patent Claim, Initiates Review
Summary
Elektros Inc. announced that Volkswagen Group of America has acknowledged receipt of Elektros' communication regarding its U.S. Patent No. 12,522,100 for a multi-port EV charging assembly. Volkswagen's legal team will now review the patent and the matters raised. This directly follows Elektros' cease-and-desist notice issued on May 8th to a major global automotive manufacturer, now identified as Volkswagen. For a micro-cap company, a potential patent infringement or licensing agreement with a major automaker could be a highly material event. Traders will watch for Volkswagen's formal response following their review.
At the time of this announcement, ELEK was trading at $0.01 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $2.9M. The 52-week trading range was $0.00 to $0.10. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: ACCESS Newswire.