Nikola shows its truck going uphill, for a change
Just five days after Nikola founder Trevor Milton was indicted, in part, for allegedly misleading investors with footage of a moving truck that was secretly rolling downhill, the hydrogen-trucking startup released footage of a newer prototype driving uphill.
The startup showed the video during a presentation of its second quarter financial results on Tuesday. (It also published the footage on YouTube.) While it may be a moral victory for the company to show its truck climbing a 12 percent grade hill in light of the more infamous clip Milton once orchestrated, the release of the footage nonetheless came alongside some bad news: Nikola now expects to deliver half the number of trucks this year than it had originally estimated. Worse, the...