As soon as it became known about the deal between Nikola and General Motors, the shares of the first of the companies rose in price by 37%. It was understood that the “electromobility startup” would get a manufacturing partner and supplier of power units in the person of GM. One of the institutional investors then made accusations against Nikola, which are related to the falsification of data.
According to representatives of Hindenburg Research, a company that owns a small stake in Nikola, the latter has been misleading investors and partners for a long time, deliberately embellishing the real state of affairs. By the end of 2022, Nikola is going to start production of the Badger electric pickup truck in cooperation with General Motors, and Bosch and Iveco divisions in Europe will help it produce mainline electric tractors.
Hindenburg even tried statements by an anonymous representative of Bosch to discredit Nikola in order to dispute the information about the appearance of the first five operational copies of the main tractors produced in Germany. Bosch officials were quick to counter that the employee's statements were misinterpreted and taken out of context, and recommended contacting Nikola directly for further clarification.
The Hindenburg report, along the way, tries to convince investors that Nikola's management exaggerated the amount of orders from the first potential customers. Representatives of Nikola have already promised to answer all the accusations with detailed evidence, GM is not going to refuse cooperation with Nikola after this scandal, but its own shares managed to fall in price by 4,7%. The European company CNH Industrial NV, which owns a 6,7% stake in Nikola, also suffered, its securities fell by 3,2%. The share price of Nikola itself also fell by eleven percent, but representatives of the latter reproached Hindenburg Research with intentions to cash in on manipulations with shares that fell in price as a result of the scandal.
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Source: 3dnews.ru