Nikola and GM team up to make 900 HP Electric Supertruck.

I hope the SEC applies the laws consistently! Anything Elon got away with should not be punishable to any other company/executive.

Nikola sounds like this decades Elio Motors. LOL

FROM Whitney Tilson's daily email....
In Friday's e-mail, I wrote about electric-truck maker Nikola (NKLA), whose stock plunged last week after activist short-seller Nate Anderson of Hindenburg Research released a damning report calling it "an intricate fraud built on dozens of lies."

The company responded this morning with a press release entitled, Nikola Sets the Record Straight on False and Misleading Short Seller Report, which I read with interest.
So does it set the record straight? Well, only if admitting the key elements of Hindenburg's report qualifies.
The most damning charge in Hindenburg's report is the following:
We reveal how, in the face of growing skepticism over the functionality of its truck, Nikola staged a video called "Nikola One in Motion" which showed the semi-truck cruising on a road at a high rate of speed. Our investigation of the site and text messages from a former employee reveal that the video was an elaborate ruse – Nikola had the truck towed to the top of a hill on a remote stretch of road and simply filmed it rolling down the hill.
Nikola confirmed that it would be a "functioning" and "fully built truck at event" it was not a real truck and was, in fact, a pusher.

In response, the company says it wasn't a pusher – but then admits that the truck shown in its "Big Nikola One Reveal" could not "drive on its own propulsion":

The Nikola One is a real truck that sits in Nikola's showroom. A pusher means a vehicle that was not designed to be moved by its own propulsion system. The Nikola One was, in fact, designed to be powered and driven by its own propulsion.

Here are the facts:
Gearbox was functional and bench tested prior to installation.
Batteries were functional.
Inverters functioned and powered the motors on a bench test prior to the show.
Power steering, Suspension, Infotainment, Air Disc Brakes, High Voltage, and Air Systems were all functional.
As Nikola pivoted to the next generation of trucks, it ultimately decided not to invest additional resources into completing the process to make the Nikola One drive on its own propulsion. After pivoting, Nikola produced prototypes for the Nikola Two, which are self-propelled and have been frequently demonstrated, beginning with demonstration runs at Nikola World in April 2019.
The Nikola One was an incredibly successful proof of concept, and everything the Company learned from that experience has underpinned the successful development of its next generation of trucks that can be seen driven here.

To summarize, as one of my friends e-mailed me:
Basically, Nikola admits that the product was fake. It says that if it had only wanted to, some day, the product wouldn't have been fake.

But at the time of the statement/demo, it *was* fake.
Or, as one person posted on Twitter: "I could have kissed her, dude, I swear. I just didn't WANT to."

Another Hindenburg charge is that:
Trevor claims Nikola designs all key components in house, but they appear to simply be buying or licensing them from third-parties. One example: we found that Nikola actually buys inverters from a company called Cascadia. In a video showing off its "in-house" inverters, Nikola concealed the Cascadia label with a piece of masking tape.

In response, Nikola admits this as well:
At no time did Nikola state that the inverter on the prototype truck shown in the video was the Company's or would be used in production. Nikola has been designing, engineering and working on its own inverters for quite some time. The Company does use third-party parts in prototype vehicles, some of which may be subsequently swapped out for its own parts in production. This is common practice among vehicle manufacturers and Nikola often blocks supplier names from the view of media and competitors. Every program is different as they require different specifications and validation.
Lastly, after each of its 11 bullet points, the company repeats this sentence:
These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola's stock price.
It's weird – almost Orwellian – as if repetition will make it true. It reminds me of the famous scene in Star Wars: "These aren't the droids you're looking for..."
In summary, Nikola's response gets a failing grade from me. It doesn't address many of Hindenburg's key claims – and what it does respond to, it admits guilt in a number of areas.

amazing how I see similar behavior to Elon, and the fanboys are all over this. How much in deposits does Elon have for a semi that is years late?

NKLA is done,hate to brag but told you so :)

https://electrek.co/2020/09/11/nikolas-nkla-house-of-card-crumbles-gm-nothing/

Getting better and better.

"a former Nikola employee who said the company’s YouTube video entitled “Nikola One in Motion” was produced to appear to show a Nikola truck driving down a desert road, but the truck in the video was actually towed to the top of a hill and released. The video allegedly showed the truck cruising once it had accelerated from rolling down the hill."

https://finance.yahoo.com/news/short-seller-compares-nikola-theranos-133935178.html

You be the judge...

https://www.youtube.com/watch?v=IAToxJ9CGb8

time2roll wrote:
Just saying I am not comfortable with up to 10,000 psi of hydrogen in my close proximity. So I will not be buying one. There are lots of vehicles I will never buy so don't take that personally. For instance I will not be buying a Shelby Mustang or any Corvette but I am very happy they are available for your use.

I do hope your company gets all the pieces together and makes the technology not just safe but economically viable.

Will you be looking at getting the Badger with hydrogen?

So you are more comfortable in something where your odds of dying is much greater? That is like not being afraid of driving a car even though your odds of dying is like 103 to 1, but afraid of catching an illness where your odds of dying is like 22,000 to 1. Doesn't make sense.......

My company does not make hydrogen, they only make fuel cells. Although the viability of hydrogen is increasing. Earlier this year, I read an article where scientist have found a catalyst from common metals that made it 25 time more efficient to make hydrogen than previous methods.

No, I will not be in the market to get a a new truck any time soon. Plan on keeping this for at least another ten years. Although, I would much rather have a hydrogen fuel cell truck over a BEV truck if there were more fueling stations around me. I would not even care if the fuel cell costs more since it is more about the viability of the vehicle working with my needs rather than cost. Saving money does nothing for me if I can't use it like I need to.

ShinerBock wrote:
Wait, so you are bringing up a downside or obstacle of a future tech? Should we call you a naysayer, hater, or Mr Magoo like the BEV fanboys do to anyone who does the same about BEV's?

My company owns a fuel cell manufacturer which makes fuel cells for CNG class 8 vehicles. We are also testing hydrogen fuel cell units. They are a lot safer than many people who have never actually tested them before think. Although, no amount of testing or facts will change the beliefs of a person who has already made up their mind on something.

Just saying I am not comfortable with up to 10,000 psi of hydrogen in my close proximity. So I will not be buying one. There are lots of vehicles I will never buy so don't take that personally. For instance I will not be buying a Shelby Mustang or any Corvette but I am very happy they are available for your use.

I do hope your company gets all the pieces together and makes the technology not just safe but economically viable.

Will you be looking at getting the Badger with hydrogen?