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DeLorean Motors Reimagined top execs being sued by former employer

The DeLorean Alpha 5
DeLorean Motors Reimagined
The DeLorean Alpha 5

Four top employees of the DeLorean Motor Company Reimagined have been sued by their former employer.

Karma Automotive, an electric car company in California, said the four secretly took intellectual property to start the new company, which will be headquartered in San Antonio.

Both the city of San Antonio and Bexar County have offered around $500,000 each in incentives to DeLorean to bring about 450 employees to the new headquarters, located in Port San Antonio.

Related:Spare on details, do we know enough to be excited about public incentives for DeLorean?

The incentives from the city and county would only be given to the company after it fulfills its obligation to hire a minimum amount of employees.

In a statement, DeLorean CEO Joost De Vries called the lawsuit "baseless" and said the company is moving forward with their plans and didn't anticipate any delays.

The newly imagined DeLorean was teased during the Super Bowl, and it will be unveiled on Aug. 22 at the Concours d'Elegance in California.

CORRECTION: A previous version of this story misstated the location of the Concours d'Elegance. It is in California.

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Jerry Clayton can be reached at jerry@tpr.org or on Twitter at @jerryclayton.