Die Hindenburg-Analysten werfen Nikola unter anderem vor, ein Werbevideo für seine E-Trucks aus dem Oktober 2019 gefälscht zu haben. The only difference is that the Nikola Two does not have a sleeper compartment which the Nikola One will possess. (Read more in the Company’s press release. The series presents work on the project. At no time did Nikola state that the inverter on the prototype truck shown in the video was the Company’s or would be used in production. Kim Brady The video was clearly fake. In an age where everything has to be portable and on-the-go friendly, a host of manufacturers have tried their hand at creating some truly innovative new ideas in pipe design and function, including ideas… READ THE REST, Last year, Slack introduced an add-on app called Hallway, allowing co-workers in the same Slack channel to join periodic breaks so coworkers can just idly video chat and shoot the breeze about whatever for a few minutes before going back to work. Nikola stated the refuse trucks would be supplied from the Nikola factory at Coolidge, which has barely begun. More to come at Nikola World 2020. More intuitive than Java or less rigid than PHP or C#, Python is the language many programmers fall back on for its… READ THE REST, Between marijuana legalization efforts, vaping, and more, the past decade has truly been a golden age in the advancement of smoking technology. sites. The Company has since spent millions of dollars preparing the NZT enclosed cab version for production using both internal and external resources. Die Nikola Corporation (bis 2020 Nikola Motor Company, auch Nikola Motors genannt) ist ein börsennotiertes amerikanisches Hybrid-Truck-Entwicklungs- beziehungsweise Designunternehmen. The Nikola Two is a semi-tractor truck that is expected to be technically identical to the Nikola One. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; the outcome of judicial proceedings to which Nikola is, or may become a party; failure to realize the anticipated benefits of the recently completed business combination; the conversion of pre-orders into binding orders; risks related to the rollout of Nikola’s business and the timing of expected business milestones; the effects of competition on Nikola’s future business; the availability of capital; and the other risks discussed under the heading "Risk Factors" in the definitive proxy statement/ prospectus/ information statement filed by VectoIQ on May 8, 2020 and other documents Nikola’s files with the SEC. Nikola remains laser-focused on laying the groundwork toward becoming the global leader in zero-emissions transportation. In 2016, Nikola demonstrated a full-size electric truck flying along a desert highway. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. And a BYD electric truck took the beer to its final destination. Further, Nikola has already installed a 1,000 kg hydrogen storage and dispensing demo station at its headquarters and ordered over $30 million of electrolyzers to support the initial hydrogen station rollout. Hindenburg either recklessly misunderstands or willfully misrepresents the vehicle pre-production process to fit its narrative. Short Seller Misrepresents Nikola’s Historic Position on Battery Technology: The short seller report claims that Founder and Executive Chairman Trevor Milton made false statements regarding the Company’s battery technology following the breakdown of its transaction discussions with ZapGo Ltd. His departure, as well as subsequent litigation (which he voluntarily dismissed), were unrelated to the Company’s announcement that it would refund Nikola One reservation deposits. The first NZT enclosed cab display model is sitting in Nikola’s showroom at its headquarters. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Short Seller Misrepresents Value of 2010 Contract between Swift Transportation and dHybrid Systems LLC: This agreement was from 2010, and has no connection with or association to Nikola. ), Large Order for Electrified Refuse Truck: As previously announced, Nikola has received a minimum order of 2,500 electrified refuse trucks from Republic Services, Inc., with on-road testing likely to begin in early 2022 and full production deliveries expected to begin in 2023. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. Our forum rules are detailed in the Community Guidelines. Any reports intended to suggest that Nikola’s trucks do not drive are erroneous, and recent videos of Nikola vehicles driving can be found here. After pivoting, Nikola produced prototypes for the Nikola Two, which are self-propelled and have been frequently demonstrated, beginning with demonstration runs at Nikola World in April 2019. ", An information technology teacher at a fancy private school in Northumbria, England, was fired after getting drunk and taking students to a strip club. (Photos from September 2020: Tre 1, Tre 2, Tre 3, and Tre 4. Travis Milton previously owned and operated his own construction company preparing him for hydrogen station infrastructure and buildouts. Read about what we do with the data we gather in our Privacy Policy. Nikola plans to make hydrogen the transportation fuel of the future. The truck was showcased and filmed by a third party for a commercial. Nikola gibt einen Prototypen-Fake zu. Bloomberg had already claimed Nikola had falsely stated, when it showed its One semi-truck in 2016, that it was a working prototype even though it … Kevin has also played an instrumental role in the design and development of most Nikola vehicles since the beginning of the Company. A pusher means a vehicle that was not designed to be moved by its own propulsion system. Short Seller Intentionally Underestimates Extent of Hydrogen Production Capabilities: Nikola continues to believe that its planned hydrogen station network, and the production and distribution of hydrogen, will provide key competitive advantages that drive sustained profitability and shareholder value over the long term. In November 2019, a fuel-cell electric driven Nikola prototype completed a zero-emission beer delivery for Anheuser-Busch on public roads while operating on hydrogen. EV Truck Startup Nikola Accused of 'Intricate Fraud' by Financial Research Firm The scathing set of allegations from an admitted short-seller comes days after Nikola and GM announced a … ), Strategic Partnership with General Motors for Badger Pickup Truck: As announced last week, the Company has formed a strategic partnership with General Motors, under which General Motors will engineer, homologate, validate and manufacture Nikola’s Badger pickup truck, which will include variants with all-electric and hydrogen fuel cell powertrains. Last night, however, Nugent admitted that he had caught the disease and spent 10 days believing he was dying: "it… READ THE REST, For Colorado District Judge Natalie Chase it was important to make the hard R heard. Nikola, an early-stage growth company, has been through extensive due diligence processes, starting with Bosch in 2017, Hanwha Group and ValueAct Capital in 2018, CNH Industrial N.V. in 2019, and VectolQ Acquisition Corp. and General Motors in 2020. Every program is different as they require different specifications and validation. Service. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. Short Seller Alleges that 2016 Nikola One “was not a real truck and was, in fact, a pusher”: The Nikola One is a real truck that sits in Nikola’s showroom. Mr. Milton unveiled a semi truck, called the Nikola One, in 2016, and said it was operational. ), The Company also remains committed to achieving the following milestones: announcement of a hydrogen station collaboration by the end of 2020; substantial completion of Nikola's JV manufacturing facility in Ulm, Germany by year end 2020; and completion of Phase 1 of its greenfield manufacturing facility in Coolidge, Arizona by the fourth quarter of 2021. Here are the facts: As Nikola pivoted to the next generation of trucks, it ultimately decided not to invest additional resources into completing the process to make the Nikola One drive on its own propulsion. Colleen Robar of torque. PHOENIX, September 14, 2020 — Nikola Corporation (NASDAQ: NKLA) (“the Company”) today issued the following statement commenting on a false and defamatory report published September 10, 2020, by Hindenburg Research (“Hindenburg”): Nikola believes that the Hindenburg report, and the opportunistic timing of its publication shortly after announcement of Nikola’s partnership with General Motors Co. and the resulting positive share price reaction, was designed to provide a false impression to investors and to negatively manipulate the market in order to financially benefit short sellers, including Hindenburg itself. South Korea’s Hanwha Group intends to sell half its stake in electric-truck maker Nikola Corp. Nikola Motor. of torque. ... Das Mobilitäts-Startup hat sich vor allem mit der Präsentation seines Brennstoffzellen-Trucks Nikola One sowie des Wasserstoff-Pickups Nikola Badger einen Namen gemacht, muss sich jetzt aber schweren Betrugsvorwürfen stellen. SELL-SIDE ANALYST / INSTITUTIONAL INVESTOR INQUIRIES: In fact, the potential battery technology advancements are related to an ongoing confidential R&D partnership with a leading academic institution, not ZapGo. Anheuser Busch LLC previously announced its placement of an order for up to 800 trucks, with a prototype to be delivered by the end of 2021, testing planned for 2022, and a production version expected in the second half of 2023. Sean Szymkowski. The Company is excited about potential breakthroughs related to its next generation battery technology. 480-660-6893 System output of the truck will be 645 hp (about 480 kW). Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Read more in the Company’s press release. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. What’s really going on at Nikola — an inside look at the truck maker mired in controversy Published Sat, Oct 31 2020 9:00 AM EDT Magdalena Petrova @mpetrova92 Furthermore, Nikola has the guts to claim that this video is now irrelevant because they now have a working prototype of their truck. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. Nikola intends to fully cooperate with the SEC regarding its inquiry into these matters. Who will be eaten first? Boing Boing is published under a Creative Commons Those appear to be for battery electric vehicles not hydrogen-powered models. Nikola Corporation is globally transforming the transportation industry. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nikola’s management and are not predictions of actual performance. Both the Justice Department and the SEC are reportedly investigating claims of fraud at electric truck startup Nikola just a week after the company announced a $2 … Nikola Motor Company designs and manufactures electric components, drivetrains and vehicles including the Nikola One and Nikola Two electric semi-trucks. These forward-looking statements include, but are not limited to, statements regarding the company’s expectations regarding its projected truck builds and related specifications; the company’s expectations for its trucks and market acceptance of electric trucks; and market opportunity. Copyright  2021 Nikola Corporation, All Rights Reserved. As Nikola communicated via Twitter in April 2018, “We don't use your money to operate our business. The five trucks are currently being built and commissioned in Ulm, Germany, and are pre-production builds. 313-207-5960 Unlike the Nikola One, a prototype driving under its own power was demonstrated, including when hauling a cargo of beer for a future customer. The fact is, Nikola has real working hydrogen fuel-cell powered semi-trucks. This is common practice among vehicle manufacturers and Nikola often blocks supplier names from the view of media and competitors. and affiliate links. crobar@robarpr.com These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. Nikola's plans in Arizona and beyond. Badger production is expected to start in late 2022. According to a Securities and Exchange Commission filing dated Tuesday, Hanwha plans to … Nikola representatives occupy leadership positions in industry organizations, including as working group chairs within the worldwide International Standards Organization (Heavy Duty) hydrogen fueling standard development and the Society of Automotive Engineers fuel cell standards committee for the HD vehicles’ fuel economy. Short Seller Alleges That Nikola Buys and Does Not Make Inverters In-House: In its report, Hindenburg misrepresents that Nikola is claiming a third-party inverter is the Company’s own technology by placing a sticker over the supplier’s name. Budweiser brewer makes first beer delivery with Nikola semi truck. Read the rules you agree to by using this website in our Terms The trick ius not subtle: it appears they towed the vehicle to a subtle slope, hid the gradient with slightly curvilinear lenses and camera angles, and were careful to avoid making clear claims about power (the truck is "in motion") in their marketing copy. Die „Financial Times“ kam nach eigenen Recherchen zu … Nikola,which is headquartered in Phoenix just south of Sky Harbor International Airport,is breaking ground on a truck … Nikola Motor/dpa. Request processing. These forward-looking statements speak only as of the date hereof and Nikola specifically disclaims any obligation to update these forward-looking statements. Boing Boing uses cookies and analytics trackers, and is supported by advertising, merchandise The Company has also partnered with one of the most well-known hydrogen experts in the world, Nel ASA. Kevin Lynk is a talented mechanical engineer who has specialized in computational fluid dynamics (CFD), finite element analysis (FEA), computer-aided design (CAD) and product data management (PDM). The truck was simply rolling downhill. Listen Nikola's stock closed at $21.15 on Wednesday, a decline of 57 percent from the $50 peak reached on September 8, the day Nikola announced that GM would design and manufacture its Badger pickup truck. Joele Frank, Wilkinson Brimmer Katcher Short Seller Alleges NZT Program Was Scrapped after Unveiling: The program remains underway. Despite founder Trevor Milton saying the One was "not a pusher" and could move under its … program The Nikola Tre is a zero-emission semi-truck with over 720 kWh of battery and an approximately 300-mile range. The electric truck industry seems to be falling further out of favor with investors. Short Seller Takes Shots at Nikola Employees: Nikola believes in talent, and each of the employees unfairly described in the short seller report are making important contributions to the success of the Company. Nikola has built a deep bench of experienced leaders, with significant expertise in the automotive and electric-vehicles industry. Dale Prows has over 30 years of experience in supply chain and purchasing in the petrochemical and aluminum industries. 212-355-4449. Hindenburg Report. (Anheuser-Busch video can be viewed here. Ex-CEO Trevor Milton cashes in on $49 million worth of Nikola stock last week. Nikola has recently started a new video series about its upcoming battery-electric Nikola Tre semi-truck. The Nikola/IVECO joint venture has enabled dedicated focus toward delivering the Tre in 2021. When Nikola Motor Company founder Trevor Milton unveiled a prototype of the Nikola One truck in December 2016, he portrayed it as fully functional. They can use their "in-motion" loophole, but this was undeniably a deceptive tactic to make people think they had a working prototype in 2018 when in fact they didn't. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising In 2016, Nikola demonstrated a full-size electric truck flying along a desert highway. As part of this process, and as part of the Company’s evolution, growth and development, Nikola has quickly and nimbly pivoted its business model based on the industry, macro environment, technology and other factors in pursuit of the most value-enhancing path forward. This three-year-old video of a Nikola prototype is irrelevant except for the fact that the short seller is trying to use it for its main thesis. Tim Lynch / Tim Ragones Nikola is now a publicly-traded stock with a $2bn deal with General Motors underway. The company insists they did not lie about the truck, but no-one is fooled. Meanwhile, there's NeuralCam Live, an app that lets Mac users turn their iPhone into… READ THE REST. Der Truck im Video fahre nicht selbst, sondern sei nur ein Gefälle heruntergerollt worden. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. now admits the demo, embedded below, was faked, Teacher fired after getting drunk and taking teens to strip club, Ted Nugent last year: Covid is a scam! ABOUT NIKOLA CORPORATION: FORWARD LOOKING STATEMENTS Short Seller Distorts Nikola One 2017 Third Party “Future of Transportation” Promotion Video and Creates a Popular Lie: Hindenburg seeks to portray Nikola as misrepresenting the capabilities of the Nikola One prototype in a 2017 video produced by a third party, as “simply filmed rolling down a big hill.” Nikola never stated its truck was driving under its own propulsion in the video, although the truck was designed to do just that (as described in previous point). Nikola has also publicized its deal with Arizona trash company Republic Services, with an order for 2,500 refuse trucks based on the Nikola Tre. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. The contract can be found here (see paragraph 6(b)). These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Already two episodes were released. The Company does use third-party parts in prototype vehicles, some of which may be subsequently swapped out for its own parts in production. Nikola described this third-party video on the Company’s social media as “In Motion.” It was never described as “under its own propulsion” or “powertrain driven.” Nikola investors who invested during this period, in which the Company was privately held, knew the technical capability of the Nikola One at the time of their investment. of “Nikola never stated its truck was driving under its own propulsion in the video,” the firm said in a 2,700-word response to Hindenburg last night. Nikola said on its website that the Tre is expected to accelerate up to 2x faster than a stock diesel tractor. The Company continues to make significant progress on its strategic initiatives: Nikola Tre Semi-Truck Production: The Company expects the Nikola Tre semi-truck, a pioneer battery-electric semi-truck created in collaboration with IVECO through a joint venture established in 2019 for the short haul trucking sector, to be ready for production and available to customers by the fourth quarter of 2021. Nikola Motor's trucks look amazing, making it hard not to want them to exist eventually. The truck … There are dozens more inaccurate allegations made by the short seller, which are not relevant to Nikola. sales nicole.rose@nikolamotor.com Short Seller Quotes Spokesman of Fuel-Cell Competitor, Powercell AB, as Saying Nikola Battery and Hydrogen Fuel-Cell Technology is “Hot Air”: Third-party competitor views of Nikola and the Company’s technology are not relevant. Nikola Two Hydrogen-Electric Powered Semi-Truck Development: During 2021, Nikola will begin testing a pre-production Nikola Two, a hydrogen-electric powered semi-truck for the medium and long-haul trucking sectors, with more than 1,000 horsepower and 2,000 ft. lbs. The Nikola One was, in fact, designed to be powered and driven by its own propulsion. Nov. 22, 2019 10:04 a.m. PT. MEDIA CONTACTS: Judge Chase regaled staff from the bench with All Lives Matter talk, debated the N-word with someone stuck in a… READ THE REST, If it weren't for JavaScript's central role in the creation of web apps and scripts, there's a strong case to be made that Python is the all-purpose, most popular programming language in the world. Es wurde in Salt Lake City im Jahr 2014 gegründet und hat seit 2018 seinen Sitz in Phoenix (Arizona). Plenty of hurdles remain to be overcome before that happens, but the strategy the company disclosed at Nikola … Nikola is building novel and revolutionary technology from the ground up. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. Winter testing: The Nikola One was an incredibly successful proof of concept, and everything the Company learned from that experience has underpinned the successful development of its next generation of trucks that can be seen driven here. Nikola has been designing, engineering and working on its own inverters for quite some time. designed to provide a means for us to earn fees by linking to Amazon.com and affiliated Nikola claims that a preproduction version of this truck, “hydrogen-electric powered semi-truck for the medium and long-haul trucking sectors,” will be ready for testing in 2021. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. We want everyone to know we have never used a dollar of deposit money in the history of our company.” Any innuendo by the short seller report that these separate events were connected and indicative of questions regarding Nikola’s use of deposits is inaccurate. No. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. In its report, Hindenburg criticizes Mr. Milton’s statements about the approximately $250 million value of the contract between Swift Transportation and dHybrid (not Nikola), and cites only selected clauses to misrepresent the value of the contract as being worth “only $16 million.” What Hindenburg fails to include are the provisions in the contract whereby Swift was granted an option to acquire up to an additional 11,700 systems at $20,000 per vehicle, bringing the total potential value of the contract to $250 million. Nikola says electric-hydrogen truck never ran, as company publishes counterpoints. These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price. Nikola has contacted and briefed the U.S. Securities and Exchange Commission (SEC) regarding Nikola’s concerns pertaining to the Hindenburg report. kim.brady@nikolamotor.com ), Nikola Two Hydrogen-Electric Powered Semi-Truck Development: During 2021, Nikola will begin testing a pre-production Nikola Two, a hydrogen-electric powered semi-truck for the medium and long-haul trucking sectors, with more than 1,000 horsepower and 2,000 ft. lbs. The incident, which took place during a school trip to Costa Rica and involved threats to the some of the students, resulted in Richard Glenn, 55, being sent home immediately "due… READ THE REST, In his Christmas message last year, American singer songwriter Ted Nugent said that Covid was a scam, that there was no real pandemic, and that people who wear masks to prevent its transmission are "sheep". A profound contemporary example of "fake it til you make it. license except where otherwise noted. The fact that you were willing to deceive people about where you are in the development process of your truck is extremely relevant. Nicole Rose The company now admits the demo, embedded below, was faked. But now she's taking the big L, resigning after the state supreme court concluded an investigation into her courtroom shenanigans. Ted Nugent this year: OK so I have Covid, Judge resigns after using N-word, telling staff that "All Lives Matter", and calling another judge a "f*cking b*tch", Pay whatever you want to earn expert Python training courses from this bundle, The Süka Pipe is a smooth, efficient travel pipe that looks like it's from outer space, Make all your app ideas come true with this brilliant iOS and Android app training. Among the starkest examples are the following: Short Seller Mischaracterizes Quote by Bosch Employee: Following the publication of the short seller report, Bosch stated, “Specific instances in the [Hindenburg] report quoting a Bosch employee were taken out of context.” Bosch has also stated, “The employee spoke only about Bosch’s own plans for the IAA industry show and H2Haul project for the European Union.” Nikola and Bosch are aligned on the product roadmap for the Tre truck. For more information, visit www.nikolamotor.com or Twitter @nikolamotor. However, the company’s representatives would probably take issue with the word “fake.” As they pointed out, “Nikola never stated its truck was driving under its own propulsion in the video.” The company now admits the demo, embedded below, was faked. The report from Hindenburg, an activist short-seller financially motivated to manipulate the market and profit from a manufactured decline in Nikola’s stock price, contains a number of false and misleading statements regarding the Company’s operations and multi-year, groundbreaking R&D efforts. Nikola remains committed to enhancing shareholder value for the long term and will not waver from its mission. Nikola has said that it is working on an OEM partnership to deliver the Badger pickup truck to the zero-emissions industry, which Milton said will be available for walkarounds this year. Short Seller Attempts to Falsely Link Departure of Former CFO with Nikola One Deposits Announcement: Nikola’s former CFO was terminated by the Company. (Read more in the Company’s press release.
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