Nikola Motor Admits To Fraudulently Stating New Semi Truck Was Self Propelled Upon Debut

Nikola Motor has released a lengthy statement responding to a report from Hindenburg Research, which accuses the company of being an “intricate fraud.” In the statement, the automaker states that the report is “false and defamatory.” However, Nikola admitted that its “One” semi-truck was not self-propelled, adding that the company decided against pouring more funds into the development of the vehicle.

Last week, Hindenburg Research released an extensive report on Nikola Motor, claiming that the company was a fraud and “built on dozens of lies.” The September 10th report accused Nikola and its executives of several points that mislead shareholders, one of which claimed that the 2016 test of the Nikola One semi-truck was not what it seemed.

malba2367 - 9/14/2020 1:33:00 PM

0 Boost

It is becoming the wild west with all these EV companies...

MDarringer - 9/14/2020 9:15:00 PM

-1 Boost

When Tesla looks like an icon of quality, you know the field is bad.

ricks0me - 9/14/2020 10:06:05 PM

-1 Boost

Matt said: When Tesla looks like an icon of quality, you know the field is bad.

Laugh My Ass Off

SanJoseDriver - 9/14/2020 11:43:10 PM

+2 Boost

If I believed in shorting stock, this would be my pick to bet against.

ctsang - 9/15/2020 12:42:33 PM

+1 Boost

this one is a goner