The American manufacturer of electric and hydrogen trucks is subject to a fine of $ 125 million.
Nikola, the American manufacturer of electric and hydrogen trucks, promised wonders last year again: perfectly developed technology, a robust economic model… Its valuation on the stock market benefited from this. Until a report from an investment firm put the tip to the ear of the SEC, the US regulator of the stock market.
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The former Wall Street star had to get rid of Trevor Milton, its founder and CEO, a storyteller. But Nikola will have to pay a heavy price for his pranks: $ 125 million will be paid in five installments to the SEC for two years. “Nikola is both responsible for Mr. Milton’s misleading statements and other deceptions, all of which have misrepresented the company’s true financial and technological status.”said Gurbir Grewal, head of rule implementation at the SEC.
The current leaders of Nikola seek to turn the page: “We are happy to close this chapter, all government investigations having been completed.” While specifying that “Under the terms of the deal, Nikola neither admits nor denies the findings of the SEC in this matter.” This epilogue comes just as the manufacturer delivers its first electric trucks. Two Nikola Tre (Photo) joined the fleet of Total Transportation Services, a California transportation company. Nikola plans to sell a total of 25 trucks by the end of the year.