Nikola responded to a scathing report through an analyst who had a short position in the company’s shares, which accused him of being a “complex fraud,” by denying his findings and maintaining a high-level law firm for a imaginable legal response. stocks backed off on Friday.
“A trader of short activist whose motivation is to manipulate the market and benefit from a synthetic drop in the value of our actions has published a so-called “full of misleading data and lascive accusations directed against our founder and ceo. “Nikola said on Friday . . . ” To be clear, it’s not a study report and that’s not right. It’s a successful task for the benefit of oversized sales, motivated by greed. “
The hydrogen truck manufacturer has said it has nothing to hide and we will refute the accusations. Nikola also Kirkland
The report “Nikola: Analyzing a Sea of Lies in a Partnership with America’s Largest Automaker” through Nate Anderson, a CFA whose Hindenburg investigation specializes in forensic monetary analysis, contributed to an 11% drop in Nikola’s shares on September 10. Accusations, the “revolutionary” formula of drummer Nikola, Milton’s founder and CEO, said the company that operated last year did not exist and that the company claimed to have designed technologies and auto parts purchased from other brands as its own. “We have never noticed this point of deception in a public company, especially of this size,” Anderson said.
The resolution increases the chance that Nikola, which will not generate significant profits for at least two years, will put his heavy electric trucks into production (more or less) on time and take Elon Musk’s Tesla Semi to the race to the market for zero. . emissions per truck. It also complements Nikola’s past partnerships with corporations such as Bosch, Meritor, European truck manufacturer Iveco, Nel Hydrogen and solar panel giant Hanwha.
Nikola’s resolve to use GM’s drum formula came as a marvel when Milton said last year that the company was creating its own new chemistry that would be a breakthrough. At a convention convened on September 8, he said that using GM’s Ultium formula was a short-term charging resolution, “our next steps will be to meet with GM and other battery suppliers, and talking about Nikola’s (technology) can also be used or implemented to help them reduce charges. “
Milton’s claims about last year’s drums concerned paintings made through ZapGo, a UK startup that Nikola had invested $8 million and intended to acquire; however, his generation did not work as promised and Nikola sued ZapGo in March 2020. bankruptcy in July.
Nikola’s main activity is to be forced semi-trailers through hydrogen fuel batteries and batteries and a network of refuelling stations to force them. Hydrogen will have to be manufactured through Nikola, basically depending on the electrolysis to extract the detail of renewable electricity from the water. The company has 14,000 orders for emissions-free trucks, led through the Anheuser-Busch brewery, and plans to start delivering hydrogen models in 2023. Previously, you’ll sell battery-forced trucks produced with your spouse Iveco in Europe and build a factory in Arizona to produce your Nikola One, Two and Tree models.
Milton responded to an express rate in Hidenburg’s report, i. e. the verification versions of his battery-based Tre trucks were not being built at his spouse Iveco’s plant in Ulm, Germany, with tweeted images of the vehicles.
“They were supposed to faint later, but suspicious trucks did not exist in Ulm, Germany. Does that sound bad? Milton says, thanks to Ulm’s production and the meeting groups for showing up the trolls that are going on. You have my admiration.
From Los Angeles, the U. S. capital of automobiles and congestion, I check to understand the technological adjustments that are reshaping transportation, cities, and the way we move.
From Los Angeles, the U. S. capital of automobiles and congestion, I review the technological adjustments that are reshaping transportation, cities, and the way we move. Find me on Twitter at @alanohnsman.