Matthews International Wins Arbitration Against Tesla, Resumes DBE Sales

Matthews International

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(RTTNews) - Matthews International Corp. (MATW), Thursday announced a favorable arbitration ruling in its dispute with Tesla, confirming its right to sell Dry Battery Electrode or DBE technology to customers beyond Tesla (TSLA).

The ruling recognizes Matthews' expertise in DBE manufacturing and allows the company to expand its presence in the growing electric vehicle market.

The dispute, which began over a year ago, led Matthews to seek arbitration after failed negotiations with Tesla. With the ruling now in place, Matthews is poised to re-engage with global battery and automotive manufacturers.

MATW is currently trading at $28.28 up 5.76 percent or $1.54 on the Nasdaq.