ElectraMeccanica and Tevva have reached a settlement in a lawsuit related to their failed merger attempt.
Tevva, a British electric truck maker, had filed the suit after Mesa-based ElectraMeccanica ended the proposed merger between the two businesses in October.
ElectraMeccanica said this week it reached an “amicable resolution” with Tevva, stating in a regulatory filing the two companies agreed it was in “their mutual best interest” to settle and dismiss the lawsuit without either admitting any wrongdoing.
The settlement also resolves counterclaims ElectraMeccanica was prepared to file against Tevva and others in relation to the proposed merger, according to the regulatory filing.
