Sinovel agrees to settlement in US industrial espionage case

Chinese wind turbine manufacturer Sinovel has entered a settlement agreement in an intellectual property theft case in the US. The company was sentenced for having stolen technological IP from the US-based sub-supplier American Superconductor (AMSC).

Photo: LM Wind Power

An extensive case concerning industrial espionage has ended with Sinovel entering a settlement agreement to pay USD 57.5 million to the US firm, thereby ending their dispute, writes AMSC in a statement.

When the case emerged in January, several media – including The Wall Street Journal – reported that AMSC estimated that the IP theft cost it USD 800 million. Sinovel was at risk of paying up to USD 4.8 billion.

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