Trevor Milton charged with Fraud

[dan_b]

Milton was the CEO of Nikola Motors...

https://www.cnbc.com/2021/07/29/us-pros ... fraud.html

[Mart]

This may sound rude, even cruel, but I'm glad charges have been laid, since he earned $bn's based on the share sale and share price resulting from all his false claims about Nikola, the Badger PU, but particularly the Nikola One hydrogen truck, which was of course their main product.

Now he's gone, the Nikola One economics have collapsed. It was claimed to have an operating cost of $0.97/mile v's $0.99/mile for a diesel tractor, and even that was questionable since the diesel figure wasn't based on the latest and most efficient trucks.

They claimed a 1,200 mile range from a tank of Hydrogen, based on their testing. But now we know that they'd done no testing as they didn't have a working prototype or test mule. That figure has been revised to 600 miles, which means the H2 cost element of that 97c figure has now doubled.

They also stated that crucial to the cost savings, was the fact that at 1,000-2,000lbs lighter than a diesel tractor, the Nikola One could haul more freight, but the weight has now been revised to 1,000-2,000 heavier than a diesel, despite the battery having been revised down from 320kWh to 250kWh.

I have nothing but contempt for this man and the harm he may have done by diverting attention away from 'real' H2 vehicle development and more importantly BEV's.

[Mr Gus]

Scammers in the Auto industry, no surprise, not the first, not the last, merely likely to be punished more as a single person than the entirety of the dieselgate dicks of VW et al.

I have zero pity, I personally would like to kick him in the balls with steel toe-caps on, ..& a run up.

[spread-tee]

There is a scary explosion of fake news out there which is hugely damaging and dangerous, think anti vaxxers and etc. I am beginning to think that social meeja, sites need to have proof of identity before folk can spread the word and also be responsible for content they publish, to claim they are not publishers is IMHO rubbish

Spread, aka Desp, aka spear, aka tee...............oh dear