Shares of electric truck maker Nikola Corp. sag 20% on the announcement its founder and executive chairman was stepping down, following the fallout from a short seller report questioning the company’s technology claims.
Nikola founder Trevor Milton’s departure from the company “was not a termination,” the company said in a federal securities filing. And while Milton remains a billionaire on paper, he gives up a lot in leaving the startup electric truck maker.
Nikola founder Trevor Milton is out as executive chairman of the electric truck startup, the latest fallout from a brutal report by a short seller accusing him of lying about the company’s technology.
Late Sunday night, FreightWaves broke the story of Trevor Milton voluntarily stepping down from the Nikola Motor (NASDAQ:NKLA) board. A few hours later, Nikola Motor made the resignation official in a press release: Nikola Corporation (NASDAQ: NKLA) today announced that Trevor Milton approached the Board of Directors and proposed to voluntarily step aside as Executive […]
Nikola’s 700-station hydrogen fueling network will use solar, nuclear or whatever clean energy is cheapest. Some locations will require truck delivery because electricity costs too much to make hydrogen on-site.
Short seller Hindenburg Research renewed its attack on Nikola after successfully beating down its shares. Nikola clams up as to whether the SEC is investigating.
In today’s edition of The Daily Dash, a short seller has laid out a blistering report on Nikola; plus, Trimble has announced layoffs within its transportation business and HOS changes could impact safety.
After creating about 50 millionaires on paper a couple of weeks earlier, Nikola founder Trevor Milton gives another million shares of his personal holdings to 350 employees.
Nikola will break ground July 23 for an Arizona plant that will hire 2,000 workers to assemble battery-electric Class 8 trucks before moving on to hydrogen fuel cell models.
Nikola Corp. founder and Executive Ehairman Trevor Milton says he is justified in threatening on Twitter to sue a reporter he accuses of lying about the startup electric truck maker to drive down its high-flying stock price.
Trevor Milton takes a $1 annual salary as CEO of newly public Nikola Corp., but his net worth on paper is approaching deca-billionaire status based on his 35% share of the battery electric and fuel cell truck startup’s shares.
Trevor Milton believes replacing diesel trucks with cleaner alternatives will improve the image of trucking and enable legislators to slash emissions.
The founding of Nikola Motor Company did not happen overnight; it actually dates back to a time when a six-year-old boy was bothering his railroad-working father and was sent to see a train engineer.
Nikola Motor Company raised over $100 million in August, and the company’s CEO Trevor Milton expects its $200 million C round to be oversubscribed. Nikola boasts a $1.1 billion pre-money valuation.
A quote by Oren Harari sums up a lot of how CEO Trevor Milton feels about Nikola has achieve with the hydrogen fuel-cell electric semi: “The electric light did not come from the continuous improvement of candles.”
The biggest hurdle to overcome is the long-distance infrastructure of superchargers.
