Nikola founder resigns after allegations of fraud

Nikola has prominent partners like General Motors and Bosch, but fraud allegations were made against the company last week. Now founder and boss Trevor Milton has resigned.

Trevor Milton in front of a Nikola truck

Dhe founder and boss of the Nikola electric truck manufacturer, Trevor Milton, has resigned following allegations of fraud against the company. The company in Phoenix, Arizona said on Sunday that it had accepted the resignation; Stephen Girsky, a member of the Nikola Board of Directors and former manager at the car manufacturer General Motors (GM), will be the new boss.

The investment company Hindenburg Research last week accused Nikola of “complex fraud” based on numerous lies by founder Trevor Milton. Business partners would be “misled” by the start-up with the “false claim that they have access to important technologies”. Nikola denied the allegations.

Partnership with GM

Nikola was founded in 2015. Since then, the Milton team has been working on alternative drive technologies for trucks and large SUVs. In the future, these will run on the basis of electric batteries and hydrogen fuel cells. The startup is also working on charging stations for hydrogen trucks.

So far, the plans have remained largely theoretical, and Nikola has not yet put a single finished model of his eco-truck on the road. Nevertheless, Nikola concluded strategic partnerships not only with Bosch, but also with the Italian commercial vehicle manufacturer CNH Industrial and only at the beginning of September with GM.