Tesla settles Chinese trademark dispute

|About: Tesla Motors (TSLA)|By:, SA News Editor

Tesla Motors (NASDAQ:TSLA) says that it has "completely and amicably" resolved its trademark dispute with Chinese businessman Zhan Baosheng, paving the way for its expansion into the world's largest auto market.

"Mr. Zhan has agreed to have the Chinese authorities complete the process of canceling the Tesla trademarks that he had registered or applied for, at no cost to Tesla," says the electric carmaker.

Zhan registered the "Tesla" trademark and certain domain names before the automaker came to China. Tesla said in January that the issue had been resolved, but last month, Zhan moved to bring the company to court.