Nikola CEO keeps focusing on truck production in the wake of the founder’s fraud charges
Nikola's"cab-over" Tre semi goes into production this year as a battery-powered model. Deliveries of a hydrogen fuel-cell version follows in 2023.Nikola Corp. founder Trevor Milton faces severe financial penalties and jail time if found guilty of federal charges that accuse him of making fraudulent statements that misled investors.
Since Milton’s departure from the company in September 2020, Russell has tightened Nikola’s focus to big trucks and fuel, scrapping side-projects including the Badger pickup truck, electric watercraft and an electric all-terrain vehicle. . He pleaded not guilty to the charges and was freed on $100 million bail. The SEC also filed a civil suit against him alleging securities fraud.It reported a loss of 36 cents a share
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