35 Articles
Report
Nikola’s indicted ex-chairman Trevor Milton sells $77 million of stock

Milton stepped down as executive chairman in September but remains Nikola's largest shareholder

Breaking
'Vapor ware' and a power cord: Nuggets from Nikola founder indictment

Feds depict Trevor Milton as fixated on stock price, hyping an unfinished product

Breaking
Nikola founder Trevor Milton charged with misleading investors

He pleads not guilty in court appearance, is freed on $100 million bail

Report
Nikola loses fuel-cell development head, shares fall

Jesse Schneider has left the company to pursue other opportunities in the hydrogen industry

Green
Report
Report
Nikola targets the range of its hydrogen fuel cell-powered trucks

The hydrogen-fueled Sleeper would allow for a nonstop range of up to 900 miles

Breaking
GM scraps plan to buy stake in Nikola and build its electric pickup

In wake of fraud claims, they announce a smaller deal involving fuel cells

General Motors Co and Nikola Corp on Monday announced a reworked, smaller agreement that keeps a fuel-cell partnership intact but eliminates an equity stake in the startup for the Detroit automaker as well as plans for building Nikola's electric pickup truck. In September, the companies announced a deal under which GM would supply batteries, a chassis architecture, fuel cell systems and a factory to build the startup's proposed Badger electric pickup in return for an 11% stake and $700 million.

Report
Nikola discloses it got grand jury subpoenas in fraud allegations

Feds and New York investigating claims by short-seller Hindenburg

The company also received a grand jury subpoena from the New York County District Attorney's Office in the same month. The U.S. Securities and Exchange Commission also issued subpoenas to Nikola, its board and eight of its officers and employees in September, the company disclosed in the filing, which was prompted by the short-seller's scathing report earlier that month. The report had claimed that Milton, who has since resigned as chairman, had made false claims about the company's proprietar

Report
GM and Nikola have not finalized deal, will continue discussions

Either side can terminate the agreement if it isn't finalized by Dec. 3

General Motors Co and Nikola Corp have not finalized their deal to jointly build electric pickup trucks and hydrogen fuel cell tractor-trailers, one day ahead of the date targeted, and are continuing discussions, GM said on Tuesday. "Our transaction with Nikola has not closed," GM spokeswoman Juli Huston-Rough said in a statement. "We are continuing our discussions with Nikola and will provide further updates when appropriate or required."

Report
Nikola One truck design was purchased from Rimac's designer

The revelation came after Nikola sued Tesla over the design of its Semi

Report
Nikola founder Trevor Milton resigns after big GM deal, accusations of fraud

Former GM Vice Chairman Stephen Girsky will replace Milton

Shares in electric and hydrogen-powered truck startup Nikola plunged on Monday after the company's founder resigned amid allegations of fraud - just two weeks after signing a $2 billion partnership with General Motors. The company said late Sunday that Trevor Milton resigned and the departing executive chairman said he would defend himself against accusations that the company made false claims about its vehicles, allegations Nikola rejects. Milton said in a message to Nikola employees that he

Followup
Followup
Nikola, CNH building electric truck prototypes, targeting launch at the end of 2021

Nikola addresses Hindenburg claim truck was 'simply filmed rolling down a big hill'

Hindenburg had shorted the stock last week and said it had gathered enough evidence to show Nikola founder Trevor Milton made false statements about possessing proprietary technology to form partnerships with large automakers. Hindenburg had also alleged that a seemingly functional truck, Nikola One, was "simply filmed rolling down a big hill" in 2017. Nikola said on Monday it never stated the truck was driving "under its own propulsion" and investors at that time were aware of its technical c

Followup
Followup
Short-seller accuses Nikola of fraud after its $2 billion GM deal

Hindenburg Research says Nikola brings little of value to the partnership

Green
GM will use a wireless system to manage its Ultium electric car batteries

Part of a string of big EV announcements from the General

General Motors Co Chief Executive Mary Barra has reeled off two significant deals in the past week in response to investor concerns the No. 1 U.S. automaker is stuck in neutral while Tesla Inc and other electric vehicle makers are leaving legacy automakers behind. A 10% jump in GM's shares on Tuesday helped the stock top its post-financial crisis 2010 initial public offering of $33. On Tuesday, GM announced a deal to take an 11% stake in and build electric pickup trucks for Nikola Corp, as wel

Official
GM buys $2 billion stake in Nikola, will build Badger hydrogen-electric pickup

This right after GM's similar partnership with Honda

Shares of Nikola, which competes with Tesla Inc's Cybertruck, soared more than 30% to $46.30 in pre-market trade. General Motors will receive $2 billion in newly issued Nikola stock and will get a right to nominate one director to the electric truck maker's board. As a manufacturing partner, the No.1 U.S. automaker said it will build the Nikola Badger with either an electric battery or fuel cell electric variants.

Report
Nikola offered to work with Hyundai on hydrogen, was rejected

'It would be a complicated relationship' since the two are potential competitors

U.S. electric truck maker Nikola said it was open to collaborating with Hyundai Motor on hydrogen technology following a media report that it had reached out to the Korean automaker. In an interview with South Korean newspaper Chosun Ilbo published on Sunday, Trevor Milton, founder of Nikola Corp, said he would like to cooperate with Hyundai. Hyundai, along with Toyota Motor Corp , are among the few automakers championing hydrogen technology.

Official
Nikola Badger pre-orders open today, and the FCEV pickup comes with a water fountain

Tech firm opens pre-orders for NZT side-by-side and WAV electric jet ski

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