Nikola admits to making “inaccurate” statements under disgraced founder

Enlarge / A prototype of the Nikola Tre battery electric truck. (credit: Nikola)

Aspiring electric truck maker Nikola has admitted to the Securities and Exchange Commission that nine statements made by founder Trevor Milton were "inaccurate." Milton was forced to resign from Nikola in September, shortly after the falsehoods first came to light.

Between 2016 and 2020, Milton told a series of whoppers about his fledgling truck maker. At a 2016 press event, Milton took to the stage to unveil a prototype of the company's first truck, dubbed the Nikola One. During the event, Milton claimed that the truck "fully functions." In reality, Nikola never got the truck to move under its own power.

Nikola's most infamous flimflam came in 2018, when the company released a video of the Nikola One "in motion." In reality, Nikola had towed the inoperative truck to the top of a long, shallow incline and rolled it down, angling the camera so that it looked like it was driving on level ground.

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