Tag Archive : Trevor

/ Trevor

  • Two people familiar with the matter said Trevor Milton bought the Nikola One’s design from a designer at EV brand Rimac Automobili, according to the Financial Times.
  • This is despite Nikola saying Milton was responsible for initially designing the One “in his basement.”
  • Nikola is currently involved in a $2 billion lawsuit with Tesla, claiming that the Tesla Semi is “substantially” similar in design to the Nikola One.
  • Tesla’s rebuttal to the lawsuit claims the Rimac designer whom Milton bought the designs from called the truck project “Road Runner.”
  • Visit Business Insider’s homepage for more stories.

The story with the Nikola One, zero-emissions brand Nikola’s hydrogen-electric semitruck, was that embattled company founder Trevor Milton designed it in his basement. But a new report from the Financial Times suggests otherwise. 

Two sources with knowledge on the matter, who were not named by the Financial Times, said Milton bought the original design

Read More

Trevor Milton

Back in March, long before a short seller would raise questions about electric-truck company Nikola Corp. and hasten its founder’s exit, early investors in the company were expressing concerns of their own.

Those investors, led by mutual-fund giant Fidelity Investments, were worried that Trevor Milton, for all his brash visionary talk and Twitter braggadocio, lacked the ability that Elon Musk possesses to deliver these sorts of newfangled products to market. They lobbied successfully to remove him as CEO before the company’s June IPO and for Milton’s father to leave the board, according to people familiar with the matter. When the deal was done, Milton only held the title of chairman, the post he resigned this month.

The back-room negotiations show that Milton’s past was a concern to investors months before General Motors Co. executives placed a bet on the company in a $2 billion deal carved out after

Read More