Nikola announced on Monday 28.09.21 that CEO and Founder Trevor Milton, is out of the electric and fuel cell truck startup as he reportedly faces federal inquiries into a short-seller’s allegations of inaccurate or misleading statements.
Stephen Girsky, a former GM executive already on Nikola’s board, is taking over as board chairman immediately.
Positive for Nikola is that its strategic partners are not withdrawing for now:
- German industrial conglomerate Bosch, which is providing components for a planned hydrogen semitruck, is still on board
- GM still plans to build Nikola’s Badger pickup and supply tech for its heavy trucks, and fleet owners that placed semi orders haven’t bailed
Share price is however declining over the last week.
We keep you posted!