Summary
Nikola founder Trevor Milton accused of trying to derail bankruptcy case
A court hearing on the sale of bankrupt electric truck startup Nikola's assets to Lucid Motors was going smoothly on Friday. No objections had been filed to the transaction, and Delaware bankruptcy Judge Thomas Horan verbally approved it without hesitation.
Nikola founder Trevor Milton wants to buy the bankrupt startup's assets
Nikola founder Trevor Milton, who was recently pardoned after being convicted of securities fraud, is trying to buy the assets of his former company out of bankruptcy, according to new court filings and a person familiar with the matter.
Trump Pardons Trevor Milton, Founder of Bankrupt Truck Maker Nikola
President Trump's intervention came while Mr. Milton was appealing his conviction on securities and wire fraud charges.
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Nikola Corporation Profile
| Machinery Industry | Industrials Sector | Stephen J. Girsky CEO | NASDAQ (NGS) Exchange | 654110303 CUSIP |
| US Country | 870 Employees | - Last Dividend | 25 Jun 2024 Last Split | 11 Jun 2018 IPO Date |
Overview
Nikola Corporation stands as a pioneering force in the realms of technology innovation and integration, focusing its efforts on the development of energy and transportation solutions with a global outreach. The United States-based company, with international operations, delves into two main business units: trucks and energy. Taking a leading role in the evolution of the trucking sector, Nikola Corporation is at the forefront of commercializing battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV). Beyond vehicle manufacturing, the company is vested in the infrastructure that supports these technologies, endeavoring to build a vast network of hydrogen fueling stations alongside offering BEV charging solutions for not only its own vehicles but also for those of other third-party customers. Since its inception in 2015, headquartered in Phoenix, Arizona, Nikola Corporation has been dedicated to redefining the transportation landscape through innovative energy solutions.
Products and Services
- Nikola Tre Class 8 Truck
A cornerstone product of Nikola Corporation, the Nikola Tre Class 8 Truck embodies the company's vision for a sustainable transportation future. This vehicle, tailored for the heavy-duty trucking sector, showcases Nikola's prowess in integrating cutting-edge battery electric vehicle (BEV) technology to reduce emissions and optimize performance for long-haul operations.
- Nikola's Class 8 FCEV
Expanding its technological frontier, Nikola Corporation has also introduced the Class 8 FCEV, a hydrogen fuel cell electric vehicle. This model leverages the powerful combination of fuel cell technology and electric power, presenting a viable alternative to traditional diesel trucks with its promise of zero emissions and extended range capabilities suited for long-haul trucking.
- Hydrogen Fueling Stations
Understanding the critical role of infrastructure in the adoption of hydrogen fuel cell vehicles, Nikola Corporation is developing a network of hydrogen fueling stations. These stations are designed to support the energy needs of its FCEV fleet, thereby facilitating a seamless transition for the trucking industry towards cleaner energy sources.
- BEV Charging Solutions
Alongside its venture into hydrogen fueling, Nikola Corporation extends its product line to include BEV charging solutions. These solutions cater not only to the users of Nikola’s electric vehicle line-up but also offer services to other third-party customers, emphasizing the company's commitment to fostering an inclusive and accessible EV ecosystem.
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