https://electrek.co/2020/09/11/nikolas-nkla-house-of-card-crumbles-gm-nothing/
11 replies (most recent on top)
Trevor Milton invited me to his headquarters to prove his trucks weren't fake. While we were having lunch I asked him about the longtime friend of his (15 years, went to his wedding) who he had framed for extortion. The friend later committed s–c-de when he got out of jail. This was all happening during the Nikola reverse-IPO process.
After a recording of our conversation was posted online, a bunch of women came forward with accusations against Trevor Milton. That and the Hindenburg report are why GM can't do this deal anymore.
They weren't investing anything. They were getting the equity for free essentially, just to let them use the GM hydrogen tech that GM was planning to throw away anyway. So why would GM back out of a deal that was so sweet for them? It was really that bad.
https://heyamifat.com/robb.mp4
GM got conned just like the Nikola investors. Better to cut your losses and run the race. There is NOTHING Nikola has that GM needs.
Shades of Red Ink Rick and the Fiat deal???
Irony abounds. Just ask soy boy Reuss.
No EV in the US for next 10 years. Higher cost & technology barriers make EV unattractive to the customers. The companies following Tesla are JUST for stock price!!!
So the CEO of Nikola has resigned. He is being replaced by a GM exec. Cue the Benny Hill music. It’s time to call meetings to form committees to schedule meetings
Honda says, "how do we make it better." Tesla says, "how do we make it more efficient." Kia says "how do we make it funner." GM says, "at least we're not Ford."
@3tq1 "It is absolutely amazing how one company can manage to screw up so often."
Try working at Ford.
The article says that GM failed to do proper due diligence before taking an 11% stake in Nikola and that heads should role. Wonder if this has anything to do with the sudden departure of the CFO?
It is absolutely amazing how one company can manage to screw up so often.
GM does lose reputation by not carefully vetting partners prior to entering into agreements...and Barra will not provide any information on which if any of the claims against Nikola that GM was aware of.
GM doesn't really lose anything if it fails. Seems as though Nikola is just a design house and GM is using them to increase part sharing and lower part costs. GM will also get to manufacture a new line of trucks which will qualify for the 7,500 usd federal tax credit which it already burned through itself. Also, add in the fact that GM can then purchase environmental tax credits from a company it has an 11% ownership in instead of giving the government mandated environmental extortion money to Tesla.
Look up the CEO of Nikola and trace his background
This is destined to fail