[ad_1]
Nikola Corp might be working with tools maker CNH Industrial, to construct prototypes of its Tre semi-truck. CNH stated it goals to start out testing the semi-vans later this 12 months and hopes to launch the autos commercially by the fourth quarter of 2021.
View Photos
GM additionally took 11% stake in Nikola & stated the 2 corporations will be a part of forces to construct electrical pickups
Nikola Corp and car tools maker CNH Industrial stated final week they’re working to construct prototypes of the EV maker’s Tre semi-truck, days after a scathing report from quick-vendor Hindenburg alleged Nikola of ‘fraud’. CNH stated it goals to start out testing the semi-vans later this 12 months and hopes to launch the autos commercially by the fourth quarter of 2021. Meanwhile, the U.S. Securities and Exchange Commission (SEC) is probing Nikola to evaluate the deserves of Hindenburg’s allegations that the EV maker misled traders about its enterprise prospects, Bloomberg News reported.
Nikola, which had accused Hindenburg of manipulating the inventory to profit quick-sellers, stated its counsel had contacted and briefed the SEC on its issues concerning the quick-vendor’s report.
Also Read: Nikola Overprojected Technology Development: Hindenburg Report
The SEC didn’t instantly reply to Reuters request for remark.
Shares of the electrical-truck maker had been down about 9% at $32.52 in prolonged commerce.
Hindenburg had shorted the inventory final week and stated it had gathered sufficient proof to indicate Nikola founder Trevor Milton made false statements about possessing proprietary know-how to kind partnerships with giant automakers.
Hindenburg had additionally alleged {that a} seemingly useful truck, Nikola One, was “simply filmed rolling down a big hill” in 2017.
Nikola stated it by no means acknowledged the truck was driving “under its own propulsion” and traders at the moment had been conscious of its technical capabilities.
Earlier, automaker General Motors Co
GM’s take care of Nikola offers it scale and validates its know-how, GM Chief Executive Officer Mary Barra advised traders at an RBC convention on Monday, deferring any questions on the latter to the EV maker.
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
0 Comments
For the most recent auto information and opinions, comply with carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.
[ad_2]
Source