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Nikola Corporation
Defunct American hydrogen and battery-electric vehicle company
Nikola Corporation
Nikola Corporation (formerly known as Nikola Motor Company) was an American manufacturer of heavy-duty commercial battery-electric vehicles and fuel-cell electric vehicles, headquartered in Phoenix, Arizona. Founded in 2014 by Trevor Milton, the company went public on June 2020. The company was named after Nikola Tesla. In September 2020, the Securities and Exchange Commission and the Department of Justice launched investigations into securities fraud allegations. In July 2021, a United States federal grand jury indicted Nikola founder and former CEO Trevor Milton, but did not indict the company. The indictment charged Milton with three counts of criminal fraud and two counts of securities fraud. Publicly traded shares in Nikola dropped to around US$12 after falling from over $65 in mid-2020, when its market valuation had exceeded that of the Ford Motor Company. On February 19, 2025, Nikola filed for Chapter 11 bankruptcy protection, stating that it would seek to sell off all or most...
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