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Nikola Motor history
Nikola Motor company history timeline
In 2014, he founded Nikola with a plan to produce zero-emission semi trucks that run on hydrogen fuel cells and batteries.
Milton’s diesel conversion company, dHybrid Systems, in 2014 and also invested in Nikola.
Milton unveiled a semi truck, called the Nikola One, in 2016, and said it was operational. “It’s not a pusher,” Mr.
After leaving the G.M. board in 2016, he started an investment company, VectoIQ, to provide strategic and financial help to automotive technology start-ups.
In a lengthy written rebuttal to Hindenburg’s claims, Nikola acknowledged that the truck shown in the 2017 promotional video was not moving on its own.
After Hindenburg asserted in 2018 that Yangtze River Port and Logistics, a Chinese company, was a sham, its shares were delisted from Nasdaq.
In February 2019, Mark Russell was hired as company president.
The Nikola Tre, its European counterpart, was also announced in 2019.
As part of the merger, founder and CEO Trevor Milton had his title changed from CEO to Executive Chairman and Nikola President Mark Russell became president and CEO. Nikola's stock began trading on June 4, 2020, a day after the merger was completed.
In September 2020, it was widely reported that the Securities and Exchange Commission had launched a probe into allegations of fraud against Nikola.
In November 2020, GM announced that the proposed deal to take an equity stake in Nikola would no longer occur.
In June 2021, Nikola invested $50 million in a new hydrogen factory headed by Wabash Valley Resources to produce fuel for semi-truck fuel stations across the Midwest.
In July 2021, the company announced plans to add five new Class 8 truck dealers in Arizona, Texas, Colorado, California, New Mexico, Delaware, Florida, Maryland and Virginia.
On July 29, 2021, a United States federal grand jury returned an indictment against Trevor Milton that included three counts of criminal fraud, including "lying about 'nearly all aspects of the business'" and two counts of securities fraud.
Development of the vehicle was cancelled after the powersports division was shuttered in 2021 to focus on trucks.
Nikola cancelled its powersports division in the first quarter of 2021 to concentrate efforts on the trucks side of its business.
© 2022 NEWSWEEK DIGITAL LLC
The deal with G.M. held the prospect of providing crucial help in assembling a pickup truck that Nikola hopes to introduce by the end of 2022.
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Nikola Motor competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Volkswagen AG | 1937 | $268.1B | 313,010 | 48 |
| General Motors | 1908 | $187.4B | 155,000 | 2,415 |
| PACCAR | 1905 | $31.6B | 27,000 | 127 |
| Lucid Motors | 2007 | $807.8M | 2,000 | 446 |
| Aptera | - | $2.0M | 35 | - |
| Rivian | 2009 | $5.0B | 7,500 | 484 |
| South Point Dodge | - | $2.4M | 6 | 4 |
| Sawa. | 2017 | $690,000 | 25 | - |
| Old Time Garage | - | $550,000 | 5 | - |
| Blu | 2004 | $10.0M | 375 | 4 |
Nikola Motor history FAQs
Zippia gives an in-depth look into the details of Nikola Motor, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Nikola Motor. The employee data is based on information from people who have self-reported their past or current employments at Nikola Motor. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Nikola Motor. The data presented on this page does not represent the view of Nikola Motor and its employees or that of Zippia.
Nikola Motor may also be known as or be related to NIKOLA CORP, Nikola Corporation, Nikola Motor, Nikola Motor Company and Nikola Motor Company (2014–2020; now name of a subsidiary of Nikola Corporation).