Trevor Milton, the founder of electric truck automaker Nikola, has been convicted of fraud in federal court on Friday. Milton faced four counts of fraud that he falsified statements to investors. He faced two counts of securities fraud and two counts of wire fraud, related to statements he made as CEO of Nikola. The founder […]
Electric vehicle (EV) manufacturers Lucid Motors and Nikola are seeking additional funding to help ramp up production, amidst increasing battery costs and new federal requirements set to limit buyers’ incentives. On Monday, Lucid filed a shelf registration to issue as much as $8 billion in new stock over the next three years, as detailed in […]
Electric truck manufacturer Nikola is looking to start making battery packs, as shown by its recent acquisition of a battery supplier. Nikola announced that it purchased battery supplier Romeo Power for a total of $144 million on Monday, sold at a price of 74 cents per share, according to Automotive News. Romeo Power has been […]
According to CNN Business, electric vehicle (EV) startup Nikola has agreed to pay a $125 million USD fine to settle charges brought by the U.S. Securities and Exchange Commission (SEC) alleging that the company let its founder, Trevor Milton, defraud investors. Milton resigned as executive chairman of Nikola in September 2020 after several deceptions pertaining to […]
It’s nearly been a year now since Hindenburg Research called Nikola a fraud for a video of semi-truck driving which onlookers later found out was not an operational electric semi, and now the Nikola founder is being charged over the video. Nikola’s original founder, Trevor Milton, is being charged with securities fraud as of Thursday […]
Nikola CEO Trevor Milton recently stepped down amid claims of fraud and deception. Now, Tesla has had its say, and it’s not dissimilar from what others have been claiming about Nikola. Wednesday, as reported by Ars Technica, Tesla filed a court response in the ongoing case, saying that Nikola stole the design for its semi-truck […]
Update: Nikola founder Trevor Milton has announced he has resigned, sharing a note on Twitter at 11:21pm on late Sunday evening: https://twitter.com/nikolatrevor/status/1307927801966866438 Some big news on Sunday night, if indeed true. According to Freight Waves, the site reports Nikola founder Trevor Milton has apparently resigned: Sources close to the embattled fuel cell truck manufacturer are […]
Drone footage recently published on YouTube by Oneshot Creative gives us a visual account of the construction progress made on Nikola Corporation’s $600 million production facility in Coolidge, Arizona. Nikola Corp. broke ground on this project on July 23, 2020. Being built on a 430-acre chunk of land located off U.S Highway 87 on East Houser […]
In the latest on Nikola Motor Company (NKLA) being called a fraud by Hindenburg Research, Hindenburg has offered its rebuttal to Nikola’s response, and it’s pretty close to what you might expect. On Tuesday, Hindenburg followed up to both its initial claims that Nikola was a fraud of a company, and to Nikola’s response intending […]
Last week, Hindenburg Research made scathing remarks about Nikola, calling them a fraud of a company. This week, Nikola has released its rebuttal. On Monday, Nikola Motors shared a press release that claims to set the record straight on Hindenburg’s “false and misleading short seller report.” In it, the company argues that its use of […]
A scathing report has just been released, and it has the electric vehicle (EV) world in flames today. In a report Thursday, short-seller Hindenburg Research called Nikola a “fraud”, according to Auto Blog. The short-seller shared that it believes Nikola has been making up lies about its vehicles in order to gain steam in the […]
Collaborative efforts are pushing the sustainable transportation market forward, and the newest collaboration is sure to accelerate the production of one company’s new cars. Nikola Motors (NKLA) has announced a strategic partnership with General Motors (GM), in which GM will gain 11% ownership over the electric vehicle (EV) company, and begin building the Nikola Badger. […]
As the electric vehicle (EV) market rapidly expands, its effects will be felt across industries. An unlikely need has arisen in the garbage industry, with the largest single order of vehicles in the waste industry having just taken place. In a press release Monday, Nikola announced that it will sell between 2500 and 5000 electric […]
After months of continuous, gradual growth for stocks across the electric vehicle industry, CNBC’s Jim Cramer believes the growth is about to end for most. The EV “bubble,” as Cramer refers to it, has “already started to burst,” with companies like Nio and Nikola preparing to see a plateau in their growth in the months […]
Phoenix-based Nikola has launched preorders for its Badger pickup electric truck, with fully-refundable reservations available ranging from $250 USD to $5,000 USD. Available are the following packages and deposits: Honey Package ($5,000) Executive Series: Signed by Founder and delivered amongst the first batch of vehicles $10,000 off purchase price (including deposit) 2 x VIP Backstage...
