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"In 1994, General Motors acquired a controlling interest in Ovonics's battery development and manufacturing, including patents controlling the manufacturing of large nickel metal hydride (NiMH) batteries. In 2001, Texaco purchased GM's share in GM Ovonics. A few months later, Chevron acquired Texaco. In 2003, Texaco Ovonics Battery Systems was restructured into Cobasys, a 50/50 joint venture between Chevron and Energy Conversion Devices (ECD) Ovonics. Chevron's influence over Cobasys extends beyond a strict 50/50 joint venture. Chevron holds a 19.99% interest in ECD Ovonics. Chevron also maintains veto power over any sale or licensing of NiMH technology. 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."
Originally posted by jpm1602
That would seem to be a conflict of interest. Conspiracies? Let them eat gas. I believe the time is soon something will blow NiMh's socks off.