A recent bombshell report claims that Nikola's very own founder Trevor Milton had essentially lied as well as manoeuvre his way into the big-name partnership even without actually producing anything particular of value.
Nikola is not at all a new name within the entire automotive field. For a few years now, this startup has definitely promised the world with certain fuel cell- as well as electric-powered semi-trucks. During the recent months, investors actually bought in as the whole search for the brand new Tesla heats up.
Did the truth bubble finally burst at last?
After years of continually hyping up the proprietary technology just like the famed "game-changing" battery technology, the use of cheap hydrogen fuel, and much more, a recent report suddenly alleges that the company actually never really had much, to begin with.
The startup allegedly used the smoke-and-mirror tactics in order to land in some of the big-name partners all the way from General Motors to Bosch. This bombshell was reported on Thursday showing the forensic final research given from a particular Hindenburg Research that was able to compile evidence that revealed that Nikola, along with its founder Trevor Milton, has not actually been entirely honest about the status of its trucks or even the whole powertrain system.
Hindenburg takes profit should Nikola fail
A particular thing worth noting before going into detail about the findings is that Hindenburg actually disclosed that it is a Nikola short-seller, meaning it might actually profit from the Nikola stock performing poorly according to CNET.
On Hindenburg's own website, it was noted that its work has actually prompted executive resignations as well as investigations that actually led to SEC charges. The research firm did not even immediately respond to the whole Roadshow's request for them to give comment.
Milton actually took it to Twitter and quickly called the whole report a "hit job." A particular Nikola spokesperson also told the Roadshow that Nikola has definitely been vetted by a few of the world's leading credible companies as well as investors. It was also said that they are on the path to success and that they will not really waver based on the report that was filled with certain misleading information certain stock manipulation.
The stacking evidence against Nikola
Hindenburg recently compiled a detailed account of the early days of Nikola predating even the company itself and diving more into Milton's previous business patterns. Hindenburg then accused Milton along with the company of "intricate fraud" while being able to supply certain recorded phone conversations, emails, text messages, and even legal documents to back this up.
This evidence was released after a recent Bloomberg report, in which Hindenburg corroborates, that actually spilt certain detail on just how Milton along with the company overstated the abilities of the Nikola One.
This article is owned by Tech Times
Written by Urian Buenconsejo