ECD Ovonics disputed this claim.
On September 10, 2007,
Chevron filed a legal claim that ECD Ovonics has not fulfilled its obligations.
On October 10, 2001,
Texaco purchased GM's share in GM Ovonics, and Chevron completed acquisition of Texaco six days later.
On October 10, 2001,
Texaco purchased GM's share in GM Ovonics, and Chevron completed its acquisition of Texaco six days later.
In 2003, Texaco Ovonics Battery Systems was restructured into Cobasys, a 50/50
joint venture between Chevron and Energy Conversion Devices(ECD) Ovonics.
On October 10, 2001,
Texaco purchased General Motors' share in GM Ovonics, and Chevron completed its acquisition of Texaco six days later.
In addition, Chevron maintains the right to seize all of Cobasys'
intellectual property rights in the event that ECD Ovonics does not fulfill its contractual obligations.