The Founder Of The US Electric Truck Manufacturer Nikola Resigns

The background to this is the dispute with Hindenburg Research. The short seller had accused Nikola of "complex fraud" shortly after the company announced a multi-billion dollar cooperation with General Motors. Nikola misled partners by making false claims about the company's technology - including hydrogen fuel cell batteries, which never existed, Hindenburg said. Milton had been telling lies for years. As a short seller, Hindenburg is not a neutral analyst, but benefits the lower the Nikola share falls. Nikola has denied the claims and reported the investment company to the US Securities and Exchange Commission for attempted price manipulation. Nikola only partially denied one of the most serious allegations. It is about a scene from a video by the startup from 2017, in which a prototype of the new truck can be seen in action. According to Hindenburg Research, the vehicle was first pulled up a hill - and then simply rolled back down by itself. No trace of a new drive. Nikola justified herself by saying that the company had never explicitly stated that the prototype in the video was powered by its own motor. The United States Department of Justice is investigating the short seller's allegations. Milton said the focus should be on the company and its "world changing mission, not me," according to a company announcement. "I intend to defend myself against false accusations made against me by outside critics," Milton tweeted.