{"id":71903,"date":"2020-09-21T16:39:41","date_gmt":"2020-09-21T13:39:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nikola-founder-trevor-milton-leaves-amid-fraud-claims\/"},"modified":"2020-09-21T16:39:41","modified_gmt":"2020-09-21T13:39:41","slug":"nikola-founder-trevor-milton-leaves-amid-fraud-claims","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nikola-founder-trevor-milton-leaves-amid-fraud-claims\/","title":{"rendered":"#Nikola founder Trevor Milton leaves amid fraud claims"},"content":{"rendered":"

“#Nikola founder Trevor Milton leaves amid fraud claims<\/strong>”<\/p>\n

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\n Nikola founder Trevor Milton has left the embattled electric-vehicle startup\u2019s board after a short-seller accused him of lying about the company\u2019s technology<\/a>.<\/p>\n

Phoenix-based Nikola announced<\/a> the shakeup early Monday morning as it grapp<\/a>led with investment firm Hindenburg Research\u2019s allegations that Milton made bogus claims to secure important corporate partnerships.<\/p>\n

\u201cThe focus should be on the company and its world-changing mission, not me,\u201d Milton said in a statement<\/a>. \u201cI intend to defend myself against false allegations leveled against me by outside detractors.\u201d<\/p>\n

News<\/a> of the sudden leadership change sent Nikola\u2019s stock price plunging 26.7 percent to $25.05 as of 8:19 a.m.<\/p>\n

Nikola said it had tapped board member Stephen Girsky, a former General<\/a> Motors vice chairman, to become its new chairman. Milton called Girsky the \u201cright leader to guide our vision\u201d and expressed confidence in Nikola CEO Mark Russell.<\/p>\n

The move came less than two weeks after GM announced it would take an 11 percent stake in Nikola and produce its all-electric pickup truck, the Badger, under a multibillion-dollar deal the companies cast as mutually beneficial.<\/p>\n

But Hindenburg released a report<\/a> just two days later calling Nikola \u201can intricate fraud built on dozens of lies\u201d over the course of Milton\u2019s career. Among the allegations was that the company had staged a January 2018 video of its Nikola One semi truck by filming it rolling down a hill in neutral, not powered by its own engine.<\/p>\n

Nikola called the report \u201ca hit job for short sale profit driven by greed\u201d and said it never claimed the truck was driving \u201cunder its own propulsion.\u201d But Hindenburg said the company\u2019s response had \u201choles big enough to roll a truck through.\u201d<\/p>\n

Asked about the controversy last week, GM CEO Mary Barra said the automaker had \u201cdone the appropriate diligence\u201d on Nikola as a part of the deal between the two companies.<\/p>\n

Nikola has touted several designs for electric trucks powered by batteries and hydrogen fuel cells. The startup \u2014 which like rival automaker Tesla is named for the 19th-century inventor \u2014 went public in June with a handful of vehicle concepts and essentially no revenue.<\/p>\n

With Post wires<\/em>\n <\/div>\n