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Nikola Motors Accused of Massive Fraud, Ocean of Lies
Published on September 11, 2020 at 07:20PM
Socguy writes: Hindenburg research has released their report on Nikola motors and have taken a short position as a result of their research. During the course of their investigation, they claim to have spoken to numerous former employees, have amassed a pile of emails, text messages, contracts as well as other documents and videos showing a massive deception. Essentially, Hindenburg alleges that Nikola has no proprietary technology and vastly overstated the capabilities of their prototypes repeatedly to investors. The report paints a picture of a company that says and does whatever it takes to attract investment, such as filming semis as they roll down hills for promotional material. Nikola has obviously refuted the report but to date have not bothered to disprove any of the numerous specific allegations. Instead they’ve indicated they’ve contacted lawyers.
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