The report has several claims including an allegation that the original video of Nikola’s truck was nothing more than the electric truck being pushed down a hill after being towed to the top. Although some may chalk this up to hear say, Hindenburg was able to find the location where the first video was filmed, as well as text messages from an employee during the time of filming
Another likely damaging claim is the act of claiming the development and ownership of technology that was actually purchased. Milton previously claimed that the company developed their own inverter and even released a video of it. According to Hindenburg, they were able to figure out that it was a Cascadia inverter with a piece of masking tape covering its logo:
With all of this information following the announcement of Nikola’s partnership with GM, you would think GM would have something to say about the report. However, the company apparently told Electrek “We are fully confident in the value we will create by working together. We stand by the statements we made in announcing the relationship.” Nikola will use GM’s battery and fuel cell technology in its Badger, and possibly others. Furthermore, with the parentership, GM aquirred about 11% of Nikola Motors.
Last night, Milton took to Twitter claiming he is preparing a rebuttal of the claims made by Hindenburg: