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Nikola Motors downfall and conviction of the former CEO

Mumtaz Moosa – Saley | kzn@radioislam.org.za

1 min read | 07:15 CAT

Photo Credit: YouTube

In 2018, they launched a prototype behind the partial electric and hydrogen long haul trucks.

Investors had jumped on the bandwagon behind the company’s ideas, with many stating that Nikola motors have the potential to become the next Tesla.

Many trucking companies across Europe and America jumped at the news, placed orders, and made agreements with the company.

However, in 2020 the company started falling apart as more accusations and reports surfaced that the company’s prototype was nothing but a lie.

The video of a semi-electric truck that captured investors ended up being a truck rolling down a hill without even being switched on.  All this came to light after founder and CEO Trevor Milton was convicted of fraud after a lengthy investigation and trial.

Trevor Milton was charged with fraud and will be convicted in January 2023; He is facing up to 27 years in prison.

 

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