Nikola founder Trevor Milton has stepped down as executive chairman after a short seller accused Milton and the hydrogen and electric truck startup of misleading investors and overstating the value of a business deal. From a report: Milton has also resigned from the company’s board, Nikola said in a statement on Sunday. The company has previously denied the allegations and threatened…
Tag: Trevor Milton
Nikola Admits Prototype Was Rolling Downhill In Promo Video
In late 2016, Nikola Motor Company founder Trevor Milton unveiled a prototype of the Nikola One truck, claiming it “fully functions and works, which is really incredible.” A couple years later, in January 2018, the company showed the Nikola One truck moving rapidly along a two-lane desert highway. But last week, the short-selling investment firm Hindenburg Research published a bombshell report,…