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Potential companions have been reluctant to maneuver ahead with Nikola amid the heightened scrutiny, however a deal may nonetheless come collectively, a latest report urged.
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Nikola’s shares sank once more on Wednesday, falling 26 per cent to $21.15
Nikola Corp’s talks with power corporations together with BP PLC to construct hydrogen-refuelling stations have been stalled following a brief-vendor’s allegations that the electrical automaker misled traders, the Wall Street Journal reported.
Potential companions have been reluctant to maneuver ahead amid the heightened scrutiny, however a deal may nonetheless come collectively, the report stated on Wednesday, citing folks acquainted with the matter.
Nikola and BP didn’t instantly reply to Reuters requests for remark.
The electrical-truck maker’s shares sank once more on Wednesday, falling 26 per cent to $21.15.
Also Read: Nikola Share Slump Deepens As Founder Resigns
In a scathing report two weeks in the past, quick-vendor Hindenburg Research stated it had sufficient proof to indicate Nikola and its founder Trevor Milton made false claims concerning the firm’s proprietary know-how to kind partnerships with automakers.
Following the allegations, Milton stop, however Nikola’s Chief Financial Officer Kim Brady stated on Tuesday the corporate has the backing of all its present automotive companions.
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Nikola has publicly rejected the accusations and has threatened to take authorized motion in opposition to Hindenburg.
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