Nikola Board member that helped the company go public at the beginning of 2020, was accused of misleading investors and automakers by Hindenburg research. The report by the company also affected Nikola’s shares. He completely rejected the accusations and threatened the short seller to take legal actions against them.
The reports of the US justice department and US securities and exchange are against Nicola. However, the company claims to have contacted SEC against the problems regarding the report of the short-seller Hinderburg.
Girsky’s thoughts on the same
Stephen Girsky, the head of VectoIQ, is the one who took the company through the reverse merger. He is also the former vice-chairman of General Motors Co which hold an 11% stake in Nicola and told the companies would work together to build EVs and hydrogen fuel cell.
On the company’s situation with Hindenburg, Girsky said he doesn’t want to comment on the situation, but VectorIq definitely studied Nicola before closing the deal with them. He also believes that the company is building some good trucks and has the potential to good in the future.
He said on the FT webcast, “We brought an army of people in here. We conducted a thorough process. Personally, I’ve driven those trucks four times. I’ve driven on electricity. I’ve driven on hydrogen. I think they’re awesome trucks”. He also thinks that Nikola’s business model is much more focused on building the hydrogen station ecosystem than the electric or hydrogen trucks. He said, “Frankly, the station concept is as powerful or more than the truck concept.”
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