Tesla reaches agreement over trademark dispute

The United States-based electric carmaker Tesla Motors Inc said it has "completely and amicably" resolved a trademark dispute in China, removing a hurdle that had threatened CEO Elon Musk's ambitions to expand rapidly in the world's biggest auto market.

It is the second time Tesla has announced an end to the dispute with Chinese businessman Zhan Baosheng, who registered the "Tesla" trademark before the Palo Alto, California-based carmaker came to China.

Tesla said in January that the issue had been resolved, but last month, Zhan moved to bring Tesla to court.