Autos

Nikola rebuts fraud claims but confirms that its truck wasn’t driving itself

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Founder of Nikola, Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy December 2, 2019.

Massimo Pinca | Reuters

Shares of Nikola recovered from early losses Monday as the electric vehicle start-up disputed fraud claims made last week by short-selling firm Hindenburg Research.

In a statement Monday, the company said there were “dozens” of inaccurate allegations in the report, and it outlined specific examples.

But Nikola isn’t disputing one of Hindenburg’s largest claims — that it staged a video showing a truck that appeared to be functional but wasn’t, as well as claims…



Source cnbc.com

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