Nikola Corporation#Fraud allegations and Hindenburg Report

Nikola Corporation was founded by Trevor Milton{{cite web|url=https://www.forbes.com/profile/trevor-milton/#54dcf1ff8861|title= Trevor Milton| work= Forbes.com |access-date=July 27, 2020|archive-date=July 27, 2020|archive-url= https://web.archive.org/web/20200727072517/https://www.forbes.com/profile/trevor-milton/#54dcf1ff8861|url-status=live}} in 2014{{cite news |last= Hsu| first=Tiffany|date=2016-12-01|title=Nikola One Hydrogen Fuel Cell Electric Semi-Truck Debuts| website= Trucks.com |url= https://www.trucks.com/2016/12/01/nikola-one-hydrogen-fuel-cell-electric-semi-truck-debuts|access-date=2020-06-12|archive-date=December 3, 2016| archive-url= https://web.archive.org/web/20161203142547/https://www.trucks.com/2016/12/01/nikola-one-hydrogen-fuel-cell-electric-semi-truck-debuts/|url-status= dead}} in Salt Lake City, Utah.{{cite news|last1=Hall-Geisler|first1=Kristen| title=Nikola Motor Company unveils its electric (mostly) truck|website=TechCrunch|url=https://techcrunch.com/2016/05/19/nikola-motor-company-unveils-its-electric-mostly-truck/|access-date=20 May 2018|archive-date=June 23, 2017|archive-url=https://web.archive.org/web/20170623152606/https://techcrunch.com/2016/05/19/nikola-motor-company-unveils-its-electric-mostly-truck/|url-status=live}}{{cite web|title=Company Overview of Nikola Motor Company |url= https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=424281277|access-date=20 May 2018|website=Bloomberg|archive-date=May 22, 2018 |archive-url= https://web.archive.org/web/20180522011432/https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=424281277|url-status= live}}

{{as of|2016}}, the first 5,000 Nikola One hydrogen-powered glider trucks (truck vehicle platforms without engines) were slated to be built by Fitzgerald Glider Kits in Tennessee. In March 2019, Nikola acquired a 389-acre parcel of land in Coolidge, Arizona, for $23 million, with future state and local tax breaks. Nikola said in 2019 that they expected truck factory construction to start in 2020, truck construction in 2021, and the fabrication of 35–50,000 trucks per year by 2023.{{cite news |last1=O'Dell |first1=John |title= Nikola Closes Land Deal for Arizona Truck Plant |url=https://www.trucks.com/2019/03/25/nikola-land-deal-arizona-truck-plant/ |website=Trucks.com |access-date=4 April 2019 |date=25 March 2019 |archive-date=July 11, 2019 |archive-url= https://web.archive.org/web/20190711095815/https://www.trucks.com/2019/03/25/nikola-land-deal-arizona-truck-plant/ |url-status=live }}

In February 2019, Mark Russell was hired as company president. Russell had most recently been president and CEO of Nikola Corporation's investor, Worthington Industries.{{cite web | url=https://nikolamotor.com/press_releases/mark-russell-named-nikola-president-57 | title=Mark Russell Named Nikola President | website= nikolamotor.com |access-date=October 11, 2020 | date=February 26, 2019 | publisher=Nikola Corporation | archive-date=October 22, 2020 | archive-url=https://web.archive.org/web/20201022212343/https://nikolamotor.com/press_releases/mark-russell-named-nikola-president-57 | url-status= dead}}

In April 2019, Nikola held the Nikola World event in Scottsdale, Arizona. The two-day midweek event included a public demo day to show off the Nikola Two truck, the Nikola Tre truck, the Nikola NZT UTV, and the Nikola WAV watercraft.{{cite web| url= https://nikolamotor.com/nikolaworld/public| title= Nikola Corp {{!}} Rsvps {{!}} Nikola World Public |website= nikolamotor.com| publisher= Nikola Motor Company| language=en|access-date=2019-01-07|archive-date=January 7, 2019|archive-url= https://web.archive.org/web/20190107232930/https://nikolamotor.com/nikolaworld/public|url-status= dead}}{{Cite news |url=https://www.nbc-2.com/story/39567634/nikola-world-registration-opens-at-9-am-on-dec-3 |archive-url= https://web.archive.org/web/20190108045917/https://www.nbc-2.com/story/39567634/nikola-world-registration-opens-at-9-am-on-dec-3 |archive-date=2019-01-08 |title=Nikola World Registration Opens at 9 a.m. on Dec. 3 |date= 2018-11-30 |website= nbc-2.com| publisher= NBC-2 |location= Fort Myers, Florida| access-date=}}{{cite web |url= https://www.youtube.com/watch?v=5zHPf8mImoo |title=Nikola World Recap: 5 new vehicles in 2 days |website= YouTube |date=April 18, 2019 |access-date=September 18, 2020 |archive-date= February 28, 2020 |archive-url= https://web.archive.org/web/20200228235326/https://www.youtube.com/watch?v=5zHPf8mImoo |url-status=live }}

In March 2020, Nikola Corporation announced its plans to merge with VectoIQ Acquisition Corporation (ticker VTIQ),{{cite press release|last=Corporation|first=Nikola|title=Nikola and VectoIQ Acquisition Corp. Announce Closing of Business Combination|url=https://www.prnewswire.com/news-releases/nikola-and-vectoiq-acquisition-corp-announce-closing-of-business-combination-301070179.html|access-date=2020-08-07|website=www.prnewswire.com|language=en|archive-date=June 22, 2020|archive-url=https://web.archive.org/web/20200622032002/https://www.prnewswire.com/news-releases/nikola-and-vectoiq-acquisition-corp-announce-closing-of-business-combination-301070179.html|url-status=live}}{{cite web|title=VectoIQ {{!}} Home {{!}} Experts for the Future of Mobility {{!}} New York|url=https://www.vectoiq.com/|access-date=2020-08-07|website=vectoiq|language=en|archive-date=June 22, 2020|archive-url=https://web.archive.org/web/20200622032103/https://www.vectoiq.com/|url-status=live}} a publicly traded special-purpose acquisition company run by former General Motors (GM) vice-chairman and Stephen Girsky. This resulted in the combined company being listed on the NASDAQ exchange with the NKLA ticker symbol.{{cite web|url=https://www.fool.com/investing/2020/06/03/done-deal-vectoiqs-merger-with-nikola-motor-has-cl.aspx|title=Done Deal: VectoIQ's Merger With Nikola Motor Has Closed|date=2020-06-03|website=The Motley Fool|language=en|access-date=2020-06-05|archive-date=June 5, 2020|archive-url=https://web.archive.org/web/20200605145616/https://www.fool.com/amp/investing/2020/06/03/done-deal-vectoiqs-merger-with-nikola-motor-has-cl.aspx|url-status=live}} As part of the merger, founder and CEO Trevor Milton had his title changed from CEO to Executive Chairman and Nikola President Mark Russell became president and CEO.{{cite web | url=https://spacinsider.com/2020/03/03/vectoiq-to-combine-with-nikola-corporation/ | title=VectoIQ Acquisition Corp. (VTIQ) to Combine with Nikola Corporation | access-date=October 11, 2020 | date=March 3, 2020 | publisher=SPACInsider | archive-date=September 18, 2020 | archive-url=https://web.archive.org/web/20200918161346/https://spacinsider.com/2020/03/03/vectoiq-to-combine-with-nikola-corporation/ | url-status=live }} Nikola's stock began trading on June 4, 2020, a day after the merger was completed. By June 9, the shares had more than doubled since they began trading, as investors continued to bet on the growth potential of electric transportation. At the end of June, Nikola started taking reservations for pickup truck, the Badger, even though a prototype had not been shown to the public.{{cite web|last=Szymkowski|first=Sean|title=Nikola Badger reservations open as CEO takes veiled jab at Tesla|url=https://www.cnet.com/roadshow/news/nikola-badger-reservations-open-tesla/|access-date=2021-08-02|website=Roadshow|language=en}}

The company was valued at around $13 billion in early August 2020, compared to its revenue in the first six months of 2020 of $80,000 ($36,000 of which was attributed to installation of solar facilities for CEO Milton).{{cite news |last1=Stevens |first1=Pippa |title=Nikola's entire quarterly revenue of $36,000 was from solar installation for the executive chairman |url=https://www.cnbc.com/2020/08/05/nikolas-entire-quarterly-revenue-of-36000-was-from-solar-installation-for-the-executive-chairman.html |access-date=6 August 2020 |work=CNBC |date=5 August 2020 |language=en |archive-date=August 6, 2020 |archive-url=https://web.archive.org/web/20200806080710/https://www.cnbc.com/2020/08/05/nikolas-entire-quarterly-revenue-of-36000-was-from-solar-installation-for-the-executive-chairman.html |url-status=live }}

On September 8, 2020, Nikola and GM announced a partnership, by which GM would acquire an 11% stake in Nikola (valued at approximately $2 billion at the time of the announcement). GM would also earn the right to nominate one member to Nikola's board. In return, GM agreed to use its manufacturing facilities to begin production of the Badger, as well as supply fuel cells and batteries to Nikola globally.{{cite web |title=Nikola shares pop as much as 53% after General Motors takes 11% stake in electric truck maker |url=https://www.cnbc.com/2020/09/08/general-motors-takes-11percent-stake-and-2-billion-in-equity-in-electric-truck-maker-nikola-.html |website=www.cnbc.com |date=September 8, 2020 |access-date=8 September 2020 |archive-date=September 8, 2020 |archive-url=https://web.archive.org/web/20200908184006/https://www.cnbc.com/2020/09/08/general-motors-takes-11percent-stake-and-2-billion-in-equity-in-electric-truck-maker-nikola-.html |url-status=live }} Nikola stock jumped by 50% after the announcement.{{cite news|url=https://www.ft.com/content/8a8a2396-6e97-4cfd-9f80-c5aaa2de304f|title=Nikola founder Trevor Milton insists vehicle start-up is roadworthy|newspaper=Financial Times|date=September 11, 2020 |access-date=September 16, 2020|archive-date=September 16, 2020|archive-url=https://web.archive.org/web/20200916050115/https://amp.ft.com/content/8a8a2396-6e97-4cfd-9f80-c5aaa2de304f|url-status=live}}

{{See also|Trevor Milton#Fraud allegations and trial}}

On September 10, 2020, short seller firm Hindenburg Research released a report{{cite web|date=2020-09-10|title=Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America|url=https://hindenburgresearch.com/nikola/|url-status=live|archive-url=https://web.archive.org/web/20200910235204/https://hindenburgresearch.com/nikola/|archive-date=September 10, 2020|access-date=2020-09-18| website= hindenburgresearch.com | publisher= Hindenburg Research|language=en-US}} accusing Nikola of being "an intricate fraud" perpetrated largely by Milton. Further verification by Financial Times and Research Enquirer{{Cite web |title= Investigative Research and Content Production |url= https://www.researchenquirer.com/ |access-date=2022-06-02 |website=Research Enquirer |language=en}} confirmed the report's claim regarding a showcased Nikola One rolling down a gradual slope with no onboard propulsion and instead by using the force of gravity.{{Cite news| title= Nikola shares fall after short seller claims business is an 'intricate fraud'|url=https://www.ft.com/content/653096d3-e338-4d24-bab9-4fcb89f5402e |url-status= live |archive-url=https://web.archive.org/web/20200911073626/https://www.ft.com/content/653096d3-e338-4d24-bab9-4fcb89f5402e |archive-date= September 11, 2020| access-date=September 11, 2020|website=Financial Times|date=September 10, 2020|last1=Bushey|first1=Claire}} The stock fell by 10% that day while the stock of GM, which had made an agreement with Nikola days earlier, fell by 4%. By September 12, Nikola stock had fallen by 36%.{{cite news| last= Ludlow |first=Edward|date=September 12, 2020|title=Nikola's History of Discrepancies Has Been in Plain Sight| work= Bloomberg.com |url= https://www.bloomberg.com/news/articles/2020-09-12/nikola-s-history-of-discrepancies-has-been-hiding-in-plain-sight|url-status=live|access-date=September 13, 2020|archive-url=https://web.archive.org/web/20200912230941/https://www.bloomberg.com/news/articles/2020-09-12/nikola-s-history-of-discrepancies-has-been-hiding-in-plain-sight|archive-date=September 12, 2020}}{{cite web |title= New report claims widespread fraud by Nikola Motor| url= https://fortune.com/2020/09/10/nikola-motor-stock-hindenburg-research-allegations/|url-status=live|archive-url= https://web.archive.org/web/20200918045158/https://fortune.com/2020/09/10/nikola-motor-stock-hindenburg-research-allegations/|archive-date=September 18, 2020 |website= Fortune.com |access-date=September 16, 2020}}

Nikola called these claims "false and misleading" and threatened legal action against Hindenburg.{{Cite news|date=September 15, 2020|title=Nikola electric lorry just rolling downhill in promo video|work=BBC.com| publisher= BBC News|url=https://www.bbc.com/news/technology-54161343| url-status= live |archive-url= https://web.archive.org/web/20200920225502/https://www.bbc.com/news/technology-54161343|archive-date=September 20, 2020|access-date=September 16, 2020}} The US Attorney's Office for the Southern District of New York showed interest in the report.{{cite news|title=US justice department inquires into Nikola fraud claims|url=https://www.ft.com/content/a45a6638-167b-4e27-a9fd-576e7229f959|url-status=live|archive-url=https://web.archive.org/web/20200916205020/https://amp.ft.com/content/a45a6638-167b-4e27-a9fd-576e7229f959|archive-date=September 16, 2020|access-date=September 16, 2020|newspaper=Financial Times|date=September 15, 2020 }} Previously, Milton had alleged that those who were short-selling Nikola stocks are fans of rival company Tesla and are "anti-Nikola or paid attack accounts".{{cite web|last=Kotoky|first=Anurag|date=July 3, 2020|title=Nikola Founder Channels Elon Musk in Lashing Out at Naysayer Tweets| url= https://www.bloomberg.com/news/articles/2020-07-03/nikola-s-milton-channels-musk-in-lashing-out-at-naysayer-tweets|url-status=live|archive-url= https://web.archive.org/web/20200703125657/https://www.bloomberg.com/news/articles/2020-07-03/nikola-s-milton-channels-musk-in-lashing-out-at-naysayer-tweets|archive-date=July 3, 2020|access-date=July 3, 2020|publisher= | website= Bloomberg.com}} In response to the release of the Hindenburg report, Mary Barra, CEO of GM, said her company conducted appropriate diligence before its deal with Nikola.{{cite news|date=Sep 14, 2020|title=GM conducted 'appropriate diligence' on $2 billion Nikola deal, CEO Mary Barra says|work=CNBC.com |url= https://www.cnbc.com/2020/09/14/barra-gm-conducted-appropriate-diligence-on-2-billion-nikola-deal.html|url-status=live|access-date=2020-09-14|archive-url= https://web.archive.org/web/20200915221819/https://www.cnbc.com/2020/09/14/barra-gm-conducted-appropriate-diligence-on-2-billion-nikola-deal.html|archive-date= September 15, 2020}} Reports that became public on September 14 stated that the Securities and Exchange Commission had started a probe into the fraud allegations and on September 15, the Department of Justice began an investigation into Nikola as well.

On September 21, 2020, Executive Chairman, founder and former CEO Trevor Milton announced his resignation from Nikola, and Stephen Girsky became non-executive chairman of the board.{{cite web|date=September 21, 2020|title=Nikola founder Trevor Milton to voluntarily step down as executive chairman; stock plunges|website= CNBC.com |url=https://www.cnbc.com/2020/09/21/nikola-founder-trevor-milton-to-voluntarily-step-down-as-executive-chairman.html|url-status=live|archive-url=https://web.archive.org/web/20200922014339/https://www.cnbc.com/2020/09/21/nikola-founder-trevor-milton-to-voluntarily-step-down-as-executive-chairman.html|archive-date=September 22, 2020|access-date=September 21, 2020}}{{cite web| last= Minkoff |first= Yoel |date= 2020-09-21|title=Nikola tumbles as founder Trevor Milton steps down (NASDAQ:NKLA)|url=https://seekingalpha.com/news/3615554-nikola-tumbles-founder-trevor-milton-steps-down|url-status=live|archive-url=https://web.archive.org/web/20200923014509/https://seekingalpha.com/news/3615554-nikola-tumbles-founder-trevor-milton-steps-down|archive-date=September 23, 2020|access-date=2020-09-21|website=Seeking Alpha|language=en}} News of the allegations caused the share price of Nikola Corp to drop by 20%.{{cite web|date=2020-09-21|title=Breaking news: Trevor Milton out of Nikola Motors| url= https://www.freightwaves.com/news/breaking-news-trevor-milton-out-of-nikola| url-status=live| archive-url= https://web.archive.org/web/20200921053526/https://www.freightwaves.com/news/breaking-news-trevor-milton-out-of-nikola|archive-date=September 21, 2020| access-date=2020-09-21|website=FreightWaves|language=en-US}}{{cite web|last2= Steinberg| first1= Christine |last1= Wang| first2= Marty| date= 2020-09-21| title= Nikola founder Trevor Milton to voluntarily step down as executive chairman; stock plunges|url=https://www.cnbc.com/2020/09/21/nikola-founder-trevor-milton-to-voluntarily-step-down-as-executive-chairman.html| url-status=live| archive-url= https://web.archive.org/web/20200922014339/https://www.cnbc.com/2020/09/21/nikola-founder-trevor-milton-to-voluntarily-step-down-as-executive-chairman.html |archive-date= September 22, 2020|access-date=2020-09-21|website= CNBC.com |language=en}} Following the resignation, Nikola then "issued copyright-takedown notices targeting critics on YouTube who [citing fair use] used clips of the promotional video in which a Nikola One semi-truck was seen rolling down a hill" without a working drivetrain.{{cite web| last= Brodkin| first= Jon| url= https://arstechnica.com/tech-policy/2020/10/nikola-tries-to-silence-critics-with-copyright-takedowns-of-youtube-videos |title= Nikola issues copyright takedowns against critics who use rolling-truck clip| archiveurl= https://web.archive.org/web/20201003050900/https://arstechnica.com/tech-policy/2020/10/nikola-tries-to-silence-critics-with-copyright-takedowns-of-youtube-videos/ |archivedate=October 3, 2020| website= ArsTechnica.com| date= October 2, 2020| access-date= }} The Drive called Nikola's action an "abuse of YouTube's copyright takedown system".{{cite news| last= Gilboy| first= James| url= https://www.thedrive.com/tech/36875/well-this-has-certainly-been-a-bad-week-for-nikola |title= Well, This Has Certainly Been a Bad Week for Nikola| archiveurl= https://web.archive.org/web/20201004154415/https://www.thedrive.com/tech/36875/well-this-has-certainly-been-a-bad-week-for-nikola| archivedate= October 4, 2020| website= The Drive| date= October 2, 2020| access-date= }}

On September 23, BP backed away from a potential partnership to develop hydrogen refueling stations for Nikola's EV Trucks; Nikola's stock price fell by more than 25% intraday after BP's statement.{{cite web|date=September 23, 2020|title=Nikola Stock Drops 26% After BP Backs Away From Hydrogen-Station Deal|url=https://www.fool.com/investing/2020/09/23/nikola-stock-closed-down-xx-after-bp-backs-away-fr/ | website= fool.com| publisher= |url-status=live|archive-url=https://web.archive.org/web/20200924000221/https://www.fool.com/investing/2020/09/23/nikola-stock-closed-down-xx-after-bp-backs-away-fr/|archive-date=September 24, 2020|access-date=September 24, 2020}} The partnership was cited as a critical component in Nikola's business plan for its electric vehicle trucks powered by hydrogen fuel cells. Nikola had planned to announce the BP partnership days after the GM partnership.{{cite web|date=September 23, 2020|title=Nikola sinks 22%, extending sell-off amid report of potential partnership talks put on hold| url= https://markets.businessinsider.com/news/stocks/nikola-stock-price-potential-partnership-talks-put-hold-wsj-fueling-2020-9-1029616903|url-status=live| website= businessinsider.com | publisher= |archive-url= https://web.archive.org/web/20200925232139/https://markets.businessinsider.com/news/stocks/nikola-stock-price-potential-partnership-talks-put-hold-wsj-fueling-2020-9-1029616903| archive-date=September 25, 2020|access-date=September 24, 2020}}{{Cite news| date= September 23, 2020|title=Nikola Stock Tumbles As Recent Allegations Spook Potential Partners|newspaper=Investor's Business Daily |url= https://www.investors.com/news/nikola-stock-allegations-spook-potential-partners/ |url-status=live|archive-url= https://web.archive.org/web/20200927200119/https://www.investors.com/news/nikola-stock-allegations-spook-potential-partners/ |archive-date=September 27, 2020| access-date=September 24, 2020}}

In November 2020, GM announced that the proposed deal to take an equity stake in Nikola would no longer occur. A revised deal was proposed, having GM provide Nikola with the promised fuel-cell technology, but leaving out the 11% stake in the company as well as no longer producing the Badger electric pickup truck for the company.{{Cite news|last2=Foldy |first1=Mike |last1= Colias |first2= Ben|date=2020-11-30|title=General Motors Will No Longer Take a Stake in Nikola|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/gm-nikola-agree-to-scaled-down-supply-agreement-11606742652|url-status=live|access-date=2020-11-30|archive-url=https://web.archive.org/web/20201130175840/https://www.wsj.com/articles/gm-nikola-agree-to-scaled-down-supply-agreement-11606742652|archive-date=November 30, 2020|issn=0099-9660}} The Badger was subsequently cancelled.

In December 2020, Republic Services stated that their previously announced partnership with Nikola would be terminated.{{Cite web |title=Republic Services cancels pioneering electric truck deal with Nikola after months of turmoil for the manufacturer |url=https://www.recyclingtoday.com/article/republic-services-cancels-electric-vehicle-purchase-nikola-corp/ |access-date=2022-12-11 |website=Recycling Today |language=en}} The two companies had agreed to jointly develop zero-emissions garbage trucks in August 2020, including the production of at least 2,500 to 5,000 trucks for the Republic Services fleet by the start of 2023. Nikola's shares fell 9.8% after the announcement was released. Analysts call the cancelled order a short-term setback, allowing the company to channel more focus towards the core of the business, being the production of semi-trucks designed for long-haul transport.{{Cite news|last=Foldy|first=Ben|date=2020-12-23|title=Nikola, Republic Services End Collaboration on Garbage-Truck Development|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/nikola-ends-collaboration-on-garbage-truck-development-11608733154 |url-status=live|access-date=2020-12-24|archive-url=https://web.archive.org/web/20201223181857/https://www.wsj.com/articles/nikola-ends-collaboration-on-garbage-truck-development-11608733154|archive-date=December 23, 2020|issn=0099-9660}}

In February 2021, the company publicly dropped their Powersports unit along with any plans they previously had to produce any of the powersports concept vehicles they had shown, including the Nikola WAV watersports vehicle.{{cite web |title=Nikola loses half as much as expected as Powersports unit dropped |date=February 25, 2021 |first= Alan |last= Adler |website= freightwaves.com |url= https://www.freightwaves.com/news/nikola-loses-half-as-much-as-expected-as-powersports-unit-dropped|access-date=March 1, 2021|archive-date=February 27, 2021|archive-url=https://web.archive.org/web/20210227114636/https://www.freightwaves.com/news/nikola-loses-half-as-much-as-expected-as-powersports-unit-dropped|url-status=live}} Also in February, as part of YE2020 filings with the SEC, the company stated that they now intended to produce just 50-100 Nikola Tre vehicles in 4Q2021. In June 2021, Nikola invested $50 million in a new hydrogen factory headed by Wabash Valley Resources to produce fuel for semi-truck fuel stations across the Midwest.{{cite web|last=Ohnsman|first=Alan|title=Electric Truckmaker Nikola Buys $50 Million Stake In Indiana Hydrogen Plant|url=https://www.forbes.com/sites/alanohnsman/2021/06/22/truckmaker-nikola-buys-50-million-stake-in-indiana-hydrogen-plant/|url-status=live|archive-url=https://web.archive.org/web/20210624130349/https://www.forbes.com/sites/alanohnsman/2021/06/22/truckmaker-nikola-buys-50-million-stake-in-indiana-hydrogen-plant/|archive-date=June 24, 2021|access-date=2021-06-24|website=Forbes|language=en}} In July 2021, the company announced plans to add five new Class 8 truck dealers in Arizona, Texas, Colorado, California, New Mexico, Delaware, Florida, Maryland and Virginia.{{cite web|date=2021-07-27|title=Nikola Corporation (NASDAQ: NKLA) Expanded Footprints With Addition of 5 Independent Dealers|url=https://techstockobserver.com/nikola-corporation-nasdaq-nkla-expanded-footprints-with-addition-of-5-independent-dealers/|url-status=live|archive-url=https://web.archive.org/web/20210728002617/https://techstockobserver.com/nikola-corporation-nasdaq-nkla-expanded-footprints-with-addition-of-5-independent-dealers/|archive-date=July 28, 2021|access-date=2021-07-28|website=Tech Stock Observer|language=en-US}} In late July 2021, a United States federal grand jury returned an indictment against Trevor Milton that included three counts of criminal fraud, including "lying about 'nearly all aspects of the business'" and two counts of securities fraud. Milton pleaded not guilty to the charges and was freed on $100 million bail, secured by two Utah properties.{{cite web|last=Wayland|first=Michael|date=2021-07-29|title=Nikola founder Trevor Milton pleads not guilty to fraud charges, released on $100 million bail|url=https://www.cnbc.com/2021/07/29/nikola-founder-trevor-milton-pleads-not-guilty-to-fraud-charges.html|access-date=2021-08-01|website=CNBC.com |language=en}}{{cite web|title=Nikola Motor Corp. Founder, Charged With Securities Fraud in NYC, Freed on $100M Bail|url=https://www.nbcnewyork.com/news/local/crime-and-courts/nikola-motor-corp-founder-trevor-milton-faces-securities-fraud-charges-in-nyc/3184891/ |first= Larry |last= Neumeister |agency= Associated Press |access-date=2021-08-19 |website= NBCNewYork.com |publisher= |date=July 29, 2021 |language=en-US}} Nikola's share price dropped further and traded at $12 after falling from near $65 in June 2020, when Nikola had a company valuation in excess of the Ford Motor Company.{{Cite news|last2= Bera| first1=Rama |last1= Venkat| first2= Ayanti|date=2020-09-21 |title= Nikola share slump deepens as founder resigns| language=en| work= Reuters.com |url= https://www.reuters.com/article/nikola-chairman-idUSKCN26C0MT |access-date= 2021-08-01}}

Following the indictment of Milton in July 2021, the company stated "We remain committed to our previously announced milestones and timelines and are focused on delivering Nikola Tre battery-electric trucks later this year (fewer than 100 Tre vehicles, per 1Q2021 SEC filings) from the company's manufacturing facilities." In October 2022, Milton was found guilty in federal court of three of four counts of fraud against him, over statements he made while CEO of the company.{{Cite news |date=2022-10-14 |title=Nikola Founder Trevor Milton Guilty of Defrauding Investors |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-10-14/jury-in-nikola-founder-s-fraud-trial-gets-case-for-deliberation |access-date=2022-11-27}} On December 18, 2023, he was sentenced to four years in prison.{{Cite news |date=2023-12-19 |title=Nikola: Trevor Milton sentenced to prison after fraud conviction |language=en-GB |work=BBC News |url=https://www.bbc.com/news/business-67752125 |access-date=2023-12-19}}

On March 27, 2025, Milton was fully pardoned by President Donald Trump.{{Cite news |last=Mishra |first=Disha |date=March 28, 2025 |title=Nikola founder Trevor Milton says granted full pardon by Trump |url=https://www.reuters.com/world/us/nikola-founder-trevor-milton-says-granted-full-pardon-by-trump-2025-03-28/ |access-date=March 28, 2025 |work=Reuters}}

In August 2022, Nikola announced that it would be acquiring the battery company Romeo Power.{{Cite web |last=Katje |first=Chris |title=Nikola Acquires Battery Company Romeo For $144M: What Investors Should Know |url=https://www.benzinga.com/m-a/22/08/28290424/nikola-acquiring-battery-company-romeo-what-investors-should-know |access-date=2022-08-01 |website=Benzinga |language=English}} On August 4, 2022, it was reported that Nikola had delivered 48 vehicles to dealers, and reported a revenue of $18.1 million.{{Cite web|url=https://www.cnbc.com/2022/08/04/nikola-nkla-q2-2022-earnings.html|title=Nikola's revenue tops expectations on delivery of 48 electric trucks|last=Rosevear|first=John|date=August 4, 2022 |website= CNBC.com |language= en-US|access-date=August 4, 2022}} In September 2022, all 93 of its Tre Class 8 battery-electric vehicles were recalled due to an issue with seat belt anchor assemblies.{{Cite web |title=Nikola recalls all 93 Tre BEVs over seatbelt assembly |url= https://www.fleetmaintenance.com/equipment/battery-and-electrical/article/21282447/nikola-motor-company-nmc-nikola-recalls-all-93-tre-bevs-over-seatbelt-assembly |access-date=2022-10-02 |website=www.fleetmaintenance.com |publication-date=2022-09-30}} Nikola published in October 2022 that they had completed the acquisition of Romeo and "look forward to executing on the opportunities ahead."{{cite web | url= https://nikolamotor.com/press_releases/nikola-completes-acquisition-of-romeo-power-207 | title=Nikola Completes Acquisition of Romeo Power | date=October 15, 2022 }}

In June 2023, a Nikola truck caught fire at its headquarters due to a coolant leak inside its battery pack. In August 2023, a second truck's battery pack malfunctioned, which led the company to announce a recall of all the battery-electric semitrucks it had made to that point (209 in total). It suspended sales of its battery-electric trucks until a repair would become available.{{Cite web |last=Rosevear |first=John |date=2023-08-14 |title=Nikola shares fall after EV maker recalls all of its battery-electric semitrucks following a fire |url=https://www.cnbc.com/2023/08/14/nikola-recalls-all-battery-electric-trucks-following-a-fire.html |access-date=2023-08-14 |website=CNBC}} On September 4, 2023 a third truck caught fire at Arizona Lithium in Tempe, Arizona,{{Cite web |last=Adler |first=Alan |date=2023-09-06 |title=3rd Nikola battery-electric truck catches fire |url=https://www.freightwaves.com/news/3rd-nikola-battery-electric-truck-catches-fire |access-date=2023-09-09 |website=FreightWaves}} and on September 8, a fourth truck fire occurred near Nikola's headquarters in Phoenix.{{Cite web |last=Ashraf |first=Anan |title=Nikola's Electric Truck Fire Incidents Persist — 2nd Blaze in a Week - Nikola (NASDAQ:NKLA) |url=https://www.benzinga.com/news/23/09/34382119/nikolas-electric-truck-fire-incidents-persist-second-blaze-in-just-a-week-fourth-this-year |access-date=2023-09-09 |website=Benzinga}}

Nikola sold 112 hydrogen fuel cell trucks in the first half of 2024.{{Cite web |date=2024-07-02 |title=Nikola 2Q Sales Beat Management Expectations |url=https://www.morningstar.com/news/dow-jones/202407023977/nikola-2q-sales-beat-management-expectations |access-date=2024-07-05 |website=Morningstar, Inc.}} Nikola’s expansion of its own hydrogen mobility, HYLA, establishing 14 refueling solutions by year-end.{{cite web | url=https://www.hydrogenfuelnews.com/nikola-moves-from-refueling/8566365/#google_vignette | title=Nikola's Strategic Moves: From Modular Refueling to Wall Street Win - H2 News | date=August 13, 2024 }}

Nikola has publicly announced a number of vehicle design concepts since 2016 and unveiled a few concept vehicles that the company aims to develop for public sale.

{{anchor|Nikola One|Nikola 1|One|1}}

{{redirect|Nikola One|other uses|Nikola I (disambiguation)}}

In 2016, the company unveiled a high-level design for a natural gas fuelled Class 8 truck called the Nikola One, aimed then to be in production in 2020. The concept was changed in August 2016 to a hydrogen fuel-cell powered generator instead of a natural gas fuelled gas-turbine generator.{{Cite web |last=Hsu |first=Tiffany |date=2016-12-02 |title=Nikola CEO Milton Explains Hydrogen Fuel Cell Truck Strategy |url=https://www.trucks.com/2016/12/02/nikola-motor-ceo-hydrogen-fuel-cell-truck/ |access-date=2022-07-13 |website=Trucks.com |language=en-us}} In 2016 Nikola claimed to have received $2.3 Billion in pre-sales, to date{{when|date=March 2023}} no deliveries have been made.

In May 2018, Nikola Motor Company filed a lawsuit against Tesla, Inc. seeking $2 billion in damages alleging that the Tesla Semi infringed on six{{cite web|title=U.S. Patent Office Rules In Favor Of Nikola In Lawsuit Against Tesla Semi|url=https://insideevs.com/news/414082/uspto-backed-nikola-against-tesla/|access-date=2020-09-21|website=InsideEVs|language=en|archive-date=October 7, 2020|archive-url=https://web.archive.org/web/20201007002032/https://insideevs.com/news/414082/uspto-backed-nikola-against-tesla/|url-status=live}} patents that Nikola has been granted on the design of the Nikola One. Tesla responded that the lawsuit is without merit.{{cite news |url=https://www.theverge.com/2018/5/1/17309430/tesla-lawsuit-nikola-motor-company-patent-trucks |title= Tesla sued for $2 billion by hydrogen truck startup over alleged patent infringement |website= The Verge |first= Sean |last= O'Kane |date= 2018-05-01 |access-date= 2018-05-02 |archive-date= May 2, 2018 |archive-url=https://web.archive.org/web/20180502135230/https://www.theverge.com/2018/5/1/17309430/tesla-lawsuit-nikola-motor-company-patent-trucks |url-status= live }} In September 2019, the Patent Trial and Appeal Board denied Tesla's request to invalidate Nikola's side-door patent.{{cite web|last=Ohnsman|first=Alan|title=Tesla's Effort To Short-Circuit Nikola Lawsuit Fizzles As Patent Office Denies Door Argument|url=https://www.forbes.com/sites/alanohnsman/2020/04/20/teslas-effort-to-short-circuit-nikola-lawsuit-fizzles-as-patent-office-denies-door-argument/|access-date=2020-09-21|website=Forbes|language=en|archive-date=September 14, 2020|archive-url=https://web.archive.org/web/20200914223016/https://www.forbes.com/sites/alanohnsman/2020/04/20/teslas-effort-to-short-circuit-nikola-lawsuit-fizzles-as-patent-office-denies-door-argument/|url-status=live}} Nikola’s suit prompted a countersuit by Tesla. As part of a settlement agreement, the two companies agreed to drop their suits against each other.{{Cite web |last=Isidore |first=Chris |date=2022-01-05 |title=Nikola drops $2 billion patent infringement suit against Tesla {{!}} CNN Business |url=https://www.cnn.com/2022/01/05/business/nikola-drops-suit-tesla/index.html |access-date=2024-07-10 |website=CNN |language=en}}

In May 2018, Anheuser-Busch placed a provisional{{clarify|provisional on what? what conditions would make AB actually be contractually obligated to do anything?|date=December 2020}} purchase order for up to 800 leases of the hydrogen-powered truck versions, and Nikola claimed then that the trucks would start being delivered in 2020. By 2019, total pre-orders for truck leases encompassing all Nikola Class 8 truck models were claimed to be worth $14 billion.{{cite news |url=https://www.theverge.com/2018/5/3/17314606/anheuser-busch-budweiser-hydrogen-trucks-zero-emission-startup-nikola |title=Anheuser-Busch orders hundreds of hydrogen trucks from zero-emission startup Nikola |website=The Verge |date=May 3, 2018 |access-date=May 3, 2018 |archive-date=May 3, 2018 |archive-url=https://web.archive.org/web/20180503214310/https://www.theverge.com/2018/5/3/17314606/anheuser-busch-budweiser-hydrogen-trucks-zero-emission-startup-nikola |url-status=live }}{{cite news |url=https://www.forbes.com/sites/alanohnsman/2019/04/14/can-a-15-billion-bet-on-fuel-cell-big-rigs-be-a-game-changer-for-hydrogen/#74c251cbfe4c |title=Startup Nikola Bets Hydrogen Will Finally Break Through With Big Rigs |website=Forbes |date=April 14, 2019 |access-date=September 22, 2020 |archive-date=September 16, 2020 |archive-url=https://web.archive.org/web/20200916011718/https://www.forbes.com/sites/alanohnsman/2019/04/14/can-a-15-billion-bet-on-fuel-cell-big-rigs-be-a-game-changer-for-hydrogen/ |url-status=live }}

{{anchor|Nikola Two|Nikola 2|Two|2}}

{{redirect|Nikola Two|other uses|Nikola II (disambiguation)}}

The Nikola Two is a semi-tractor truck concept designed to be technically identical to the Nikola One. Unlike the Nikola One, a prototype driving under its own power was demonstrated in 2019,{{cite web |url=https://www.youtube.com/watch?v=h30TNwfq_Ss |title=Nikola Two demo |website=YouTube |date=April 17, 2019 |access-date=September 18, 2020 |archive-date=September 22, 2020 |archive-url=https://web.archive.org/web/20200922031037/https://www.youtube.com/watch?v=h30TNwfq_Ss |url-status=live }} including when hauling a cargo of beer for a future customer.{{cite web|url=https://www.cnet.com/roadshow/pictures/budweiser-beer-nikola-hydrogen-electric-semi-truck/|title=Nikola hydrogen-electric semi comes to life for Anheuser-Busch - Page 2|first=Sean|last=Szymkowski|website=Roadshow|date=22 November 2019|access-date=December 21, 2020|archive-date=December 3, 2020|archive-url=https://web.archive.org/web/20201203014825/https://www.cnet.com/roadshow/pictures/budweiser-beer-nikola-hydrogen-electric-semi-truck/|url-status=live}}

{{anchor|Nikola Tre|Nikola 3|Nikola Three|Tre|3|Three}}

{{About|the truck|other uses|Nikola III (disambiguation)}}

In November 2018, the company unveiled a Nikola Tre hydrogen-powered semi-truck concept aimed at the European market. The hydrogen ICE Tre was also stated to be targeted for the Australian and Asian markets.{{cite web |url=https://www.cnbc.com/2018/11/06/nikola-motor-unveils-hydrogen-powered-truck-tre-for-europe.html | title=Tesla rival Nikola Motor unveils hydrogen-powered truck for Europe | first=Ryan | last=Browne | publisher=CNBC | date=November 6, 2018 | access-date=December 23, 2018 | archive-date=December 24, 2018 | archive-url= https://web.archive.org/web/20181224074219/https://www.cnbc.com/2018/11/06/nikola-motor-unveils-hydrogen-powered-truck-tre-for-europe.html | url-status=live }} Nikola said the Tre concept was to have {{convert|500|to|1000|hp|kW}} and a range of {{convert|500|to|1200|km|mi|order=flip}}.{{cite web |url=https://jalopnik.com/the-nikola-tre-is-the-not-tesla-hydrogen-semi-that-want-1830224633 | title=The Nikola Tre Is the Not-Tesla Hydrogen Semi that Wants to Take On Europe | first=Michael | last=Ballaban | publisher=Jalopnik | date=November 5, 2018 | access-date=December 23, 2018 | archive-date=December 24, 2018 | archive-url= https://web.archive.org/web/20181224074007/https://jalopnik.com/the-nikola-tre-is-the-not-tesla-hydrogen-semi-that-want-1830224633 | url-status=live }} Former CEO Trevor Milton stated in 2018 that production was planned to begin at the same time as the US truck versions, which was then thought to be 2022–2023.{{cite web |url=http://www.thedrive.com/news/24715/nikola-tre-is-a-stylish-hydrogen-powered-semi-truck-destined-for-europe | title=Nikola Tre Is a Stylish, Hydrogen-Powered Semi Truck Destined for Europe | first=Rob | last=Stumpf |date=November 6, 2018 | access-date=November 6, 2018 | publisher=The Drive | archive-date=November 6, 2018 | archive-url= https://web.archive.org/web/20181106191906/http://www.thedrive.com/news/24715/nikola-tre-is-a-stylish-hydrogen-powered-semi-truck-destined-for-europe | url-status=live }}

In November 2019, the company unveiled a Nikola Tre electric truck concept (a rebadged version of the Iveco S-Way) that would also be aimed at the European market, just as the original hydrogen Tre had been.{{Cite news|url=https://cleantechnica.com/2019/12/03/nikola-iveco-partner-to-bring-the-battery-electric-nikola-tre-to-the-eu/ |title=Nikola & Iveco Partner To Bring The Battery Electric Nikola TRE to the EU|date=2019-12-03|website=CleanTechnica |access-date=2019-12-03|archive-date=December 3, 2019|archive-url= https://web.archive.org/web/20191203192533/https://cleantechnica.com/2019/12/03/nikola-iveco-partner-to-bring-the-battery-electric-nikola-tre-to-the-eu/ |url-status=live}} In July 2021, the company restated that they intend to deliver the first production Nikola Tre battery electric trucks later in 2021. The Tre was delivered to the Port of Los Angeles in December 2021. It has a 753 kWh battery pack, rechargeable from 10 to 80% in 120 minutes at 240 kW.{{cite web |last1=Buckley |first1=Julian |title=Nikola delivers first Tre BEV heavy truck |url=https://www.newpowerprogress.com/news/nikola-delivers-first-tre-bev-heavy-truck/8017059.article |website=New Power Progress |language=en |date=20 December 2021}} California qualified the Tre for its HVIP program in January 2022 at up to $120,000,{{cite web |last1=Doll |first1=Scooter |title=Nikola Tre gets board approval as a ZEV, qualifying for a $120,000 incentive for California customers |url=https://electrek.co/2022/01/13/nikola-tre-gets-board-approval-as-a-zev-qualifying-for-a-120000-incentive-for-california-customers/ |website=Electrek |date=13 January 2022}} and New York at up to $185,000.{{cite web |last1=Doll |first1=Scooter |title=Nikola Tre BEV approved for NY incentive voucher offering savings up to $185k per truck |url=https://electrek.co/2022/06/09/nikola-tre-bev-approved-for-ny-incentive-voucher-offering-savings-up-to-185k-per-truck/ |website=Electrek |date=9 June 2022}}

The first customer delivery of the Nikola Tre was made in April 2022, with 11 vehicles being delivered.{{cite web |last1=Sriram |first1=Akash |title= EV maker Nikola jumps on securing supplies to meet 2022 delivery target |url= https://www.reuters.com/business/autos-transportation/nikola-posts-wider-quarterly-loss-production-costs-rise-2022-05-05/ |website=Reuters |date=5 May 2022}}

At the end of 2023, Nikola had delivered 209 units of the Nikola Tre, however all delivered units were subjected to a recall due to a potential leak in the coolant circuit of the battery pack. Following the recall, by October 2024, 78 of those 209 delivered Nikola Tre units were back on the road. {{Cite web |date=2024-11-07 |title=Nikola sells record number of FCEVs in Q3/2024 - electrive.com |url=https://www.electrive.com/2024/11/07/nikola-sells-record-number-of-fcevs-in-q3-2024/ |access-date=2024-12-22 |website=www.electrive.com |language=en-US}}

{{anchor|Nikola NZT|Nikola Zero|Nikola 0|Nikola O|NZT|Zero|0|O}}

In 2016, a prototype concept, the Nikola NZT (originally - and briefly - referred to as the Nikola Zero{{cite web |url=https://www.youtube.com/watch?v=we4Kq9T97Jw |title=Nikola NZT Ride Along |website=YouTube |date=May 23, 2018 |access-date=February 4, 2020 |archive-date=May 5, 2020 |archive-url=https://web.archive.org/web/20200505100144/https://www.youtube.com/watch?v=we4Kq9T97Jw&gl=US&hl=en |url-status=live }}) was unveiled as a utility task vehicle with a 72 or 107 kWh battery.{{cite web|url=http://insideevs.com/nikola-zero-utv-driving-footage-launch-videos/|title=Nikola Zero UTV Driving Footage And Launch Videos|access-date=6 November 2016|archive-date=November 7, 2016|archive-url=https://web.archive.org/web/20161107011902/http://insideevs.com/nikola-zero-utv-driving-footage-launch-videos/|url-status=live}}{{cite web |date=1 December 2016 |title=Nikola One Hydrogen Fuel Cell Electric Semi-Truck Debuts |url=https://www.trucks.com/2016/12/01/nikola-one-hydrogen-fuel-cell-electric-semi-truck-debuts/ |url-status=live |archive-url=https://web.archive.org/web/20161203142547/https://www.trucks.com/2016/12/01/nikola-one-hydrogen-fuel-cell-electric-semi-truck-debuts/ |archive-date=December 3, 2016 |access-date=3 December 2016 |work=Trucks.com}}{{cite web |date=2 December 2016 |title=Dette er bilen som skal ta tungtransporten vekk fra diesel |url=http://www.tu.no/artikler/dette-er-bilen-som-skal-ta-tungtransporten-vekk-fra-diesel/365713 |url-status=live |archive-url=https://web.archive.org/web/20161205150959/http://www.tu.no/artikler/dette-er-bilen-som-skal-ta-tungtransporten-vekk-fra-diesel/365713 |archive-date=December 5, 2016 |access-date=3 December 2016 |work=Teknisk Ukeblad |language=no}} The concept was stated to have {{Convert|555|hp|kW}} total, provided by a motor at each wheel, weigh {{cvt|3,500|lb}}, and use the same {{cvt|14.5|inch}} clearance suspension as the Ford Raptor.{{cite web |url=https://electrek.co/2017/11/21/nikola-zero-electric-utv-energy-capacity-tesla/ |title=We tested an insane electric UTV with more energy capacity than even the most powerful Tesla |last=Lambert |first=Fred |date=21 November 2017 |website=Electrek |url-status=live |access-date=November 21, 2017 |archive-date=March 27, 2018 |archive-url=https://web.archive.org/web/20180327095443/https://electrek.co/2017/11/21/nikola-zero-electric-utv-energy-capacity-tesla/ }} By the end of 2016, it was listed as a powersports product, in the Nikola Powersports division.{{cite web |url=https://nikolapowersports.com |title= Nikola Powersports |year= 2016 |url-status= usurped |access-date= October 9, 2016 |archive-date= October 10, 2016 |archive-url=https://web.archive.org/web/20161010223701/https://nikolapowersports.com/ }}

In 2017 Nikola took a journalist for a ride-along in a prototype of the car in a Utah desert to demonstrate the vehicle's capabilities. That was an open-cabin version, lacking doors or a windshield. On April 16, 2019, Nikola presented an NZT in Phoenix, Arizona, that appeared similar to the original one, except it had doors (but still lacked a roof and a windshield). Nikola says it offered rides in this vehicle to the attendees during the event, and published a video claiming to show it.{{cite web |url=https://www.youtube.com/watch?v=N4rHkNgpM68 |title=Nikola NZT Demo Rides at Nikola World 2019 | Nikola Powersports |website=YouTube |date=May 16, 2019 |access-date=September 18, 2020 |archive-date=September 16, 2020 |archive-url=https://web.archive.org/web/20200916204805/https://www.youtube.com/watch?v=N4rHkNgpM68 |url-status=live }} The vehicle was supposed to have {{convert|590|hp|kW}}, and up to {{convert|150|mi|km}} of range per electric charge.{{cite web |last1=O'Kane |first1=Sean |title=Nikola's off-road EV is a high-tech speed demon |url=https://www.theverge.com/2019/4/17/18411562/nikola-motors-nzt-ev-specs-price |website=The Verge |date=April 17, 2019 |access-date=15 November 2020 |archive-date=November 16, 2020 |archive-url=https://web.archive.org/web/20201116172258/https://www.theverge.com/2019/4/17/18411562/nikola-motors-nzt-ev-specs-price |url-status=live }} The vehicle was cancelled, alongside the rest of the powersports division, in February 2021.{{cite web|title=Nikola loses half as much as expected as Powersports unit dropped|date=February 25, 2021|author=Alan Adler|website=www.freightwaves.com|url=https://www.freightwaves.com/news/nikola-loses-half-as-much-as-expected-as-powersports-unit-dropped|access-date=March 1, 2021|archive-date=February 27, 2021|archive-url=https://web.archive.org/web/20210227114636/https://www.freightwaves.com/news/nikola-loses-half-as-much-as-expected-as-powersports-unit-dropped|url-status=live}}

{{anchor|Nikola Reckless|Reckless}}

The Nikola Reckless was a concept vehicle that was projected to be a military grade fully-electric tactical off-highway vehicle. A prototype of the vehicle was displayed in the International Special Operations Forces Industry Exhibition Conference in May 2018.{{cite web|title=Nikola Reckless Electric Utility Task Vehicle (UTV)|url=https://www.army-technology.com/projects/nikola-reckless-electric-utility-task-vehicle-utv/|access-date=2020-09-21|website=Army Technology|language=en-GB|archive-date=September 29, 2020|archive-url=https://web.archive.org/web/20200929012655/https://www.army-technology.com/projects/nikola-reckless-electric-utility-task-vehicle-utv/|url-status=live}}

The vehicle's chassis would be 4×4 although it could switch to two-wheel drive. It would weigh {{convert|1,043|kg|lb|order=flip}} and would be able to carry up to {{convert|635|kg|lb|order=flip}}. Also, the vehicle would have a {{convert|12.7|mm|in|adj=on|order=flip}} machine gun. The vehicle was removed from the website with the cancellation of the powersports division.

{{anchor|Nikola Wav|Nikola Wave|Wav|WAV|Wave}}

The Nikola WAV was a concept vehicle unveiled in April 2019 as a Nikola Motors watersports offering and presented alongside the Nikola Zero. The Nikola WAV concept had a {{convert|12|in|cm|adj=on}} waterproof 4K resolution screen, and cruise control.{{cite web |last1=O'Kane |first1=Sean |title=The Nikola Wav is an electric watercraft with a 4K display and cruise control |url=https://www.theverge.com/2019/4/17/18411541/nikola-wave-electric-jet-ski-4k-display-cruise-control |website=The Verge |date=April 17, 2019 |access-date=15 November 2020 |archive-date=November 21, 2020 |archive-url=https://web.archive.org/web/20201121092152/https://www.theverge.com/2019/4/17/18411541/nikola-wave-electric-jet-ski-4k-display-cruise-control |url-status=live }} The vehicle was cancelled, alongside the entire powersports division, in February 2021.

{{anchor|Nikola Badger|Badger}}

The Badger was a proposed electric pickup truck announced in February 2020.{{cite web|title=Nikola Badger : 950 kilomètres en électrique !|url=https://www.vroom.be/fr/actus/nikola-badger-950-kilom-tres-en-lectrique-22868|author=Bert Troubleyn|date=11 February 2020|access-date=January 14, 2021|archive-date=August 1, 2021|archive-url=https://web.archive.org/web/20210801031741/https://www.vroom.be/fr/actus/nikola-badger-950-kilom-tres-en-lectrique-22868|url-status=live}} Nikola planned two variants, the first powered by a combination of hydrogen fuel cells and batteries and second all-electric, without fuel cells. The truck was intended to go to market in 2022 with the assistance of GM. In November 2020, GM pulled out of the deal and Nikola cancelled the truck.{{cite web |url=https://arstechnica.com/tech-policy/2020/11/nikola-stock-plunges-as-company-cancels-badger-pickup-truck/ |title=Nikola Stock Plunges as Company Cancels Badger Pickup Truck |last=Lee |first=Timothy B. |date=November 29, 2020 |access-date=November 29, 2020 |language=en-US |publisher=Ars Technica |archive-date=November 30, 2020 |archive-url=https://web.archive.org/web/20201130154610/https://arstechnica.com/tech-policy/2020/11/nikola-stock-plunges-as-company-cancels-badger-pickup-truck/ |url-status=live }}

File:NikolaTwo.jpg|Nikola Two

File:NikolaTre.jpg|Nikola Tre

File:NikolaTreSideView.jpg|Nikola Tre, side view

File:NikolaReckless.jpg|Nikola Reckless

File:NikolaRecklessSideView.jpg|Nikola Reckless, side view

{{Portal|Companies|Environment}}

• Cummins Aeos, a battery-electric and diesel range extender Class 7 semi truck tractor unit
• Hyundai Xcient, a fuel cell Class 8 truck
• Lordstown Motors, an American company which has announced an all-electric pickup truck
• Rivian, an American company which has sold an all-electric pickup truck since late 2021
• Tesla, Inc, an American company (also named after Nikola Tesla) that is manufacturing all-electric vehicles including a semi-trailer truck
• Toyota Project Portal, a fuel cell Class 8 truck

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