Nikola founder resigns amid allegations, SEC probe - News Summed Up

Nikola founder resigns amid allegations, SEC probe


While Nikola officially pushed back on Sept. 14, some of the company’s responses were more counterarguments than rebuttals. On Sunday night, Milton said he planned to defend himself against “false allegations” in a statement he issued via Twitter. The short-seller’s allegations aren’t the first time questions have been raised about Nikola’s claims. In June, Bloomberg reported that Milton exaggerated the capabilities of the company’s debut truck, Nikola One -- purportedly a fuel-cell vehicle it never produced or brought to market. A fuel-cell semi truck is planned for 2023 which will be built at Nikola’s factory in Coolidge, Arizona.


Source: Hindustan Times September 21, 2020 08:17 UTC



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