Nikola inventory falls 14 % after CEO downplays Badger truck plans

A large pickup truck gradually vanishes.

Enlarge / The entrance half of the Nikola Badger. (credit score: Aurich Lawson / Nikola Motor Company)

Nikola CEO Mark Russell downplayed the corporate’s Badger pickup truck in feedback to the Monetary Instances on Thursday.

“The Badger was an fascinating and thrilling venture to some shareholders, however our institutional shareholders are largely centered on the marketing strategy,” Russell mentioned. “Our core marketing strategy since earlier than we grew to become publicly listed all the time centered on heavy vans and hydrogen infrastructure.”

Russell’s feedback had been revealed after markets closed on Thursday. Nikola’s inventory value plunged on Friday morning and is presently down about 14 % for the day.

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Nikola points copyright takedowns towards critics who use rolling-truck clip

A truck rolling down a hill.

Enlarge / A 2018 Nikola video confirmed the Nikola One prototype rolling down a shallow hill in Utah. Nikola now says it by no means claimed the truck was driving beneath its personal energy. (credit score: Nikola)

Nikola has issued copyright-takedown notices focusing on critics on YouTube who used clips of the promotional video through which a Nikola prototype truck was seen rolling down a hill.

Nikola final month admitted that the promotional video of a supposedly practical Nikola One electrical truck transferring alongside a freeway really consisted of the corporate’s car rolling downhill. This week, Nikola “pressured the removing of a number of vital movies from YouTube, saying they infringed its copyright through the use of footage from the corporate,” together with the truck-rolling-downhill video, the Monetary Occasions reported yesterday.

Sam Alexander is one in every of a minimum of two monetary commentators who had movies eliminated by Google subsidiary YouTube at Nikola’s request. He says that 4 of his movies have been taken down.

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Nikola patented a stolen truck design, Tesla claims in authorized response

Two years in the past, hydrogen-truck startup Nikola sued Tesla claiming that the Tesla Semi was a knockoff of Nikola’s personal truck design. On Wednesday, Tesla filed a response within the case accusing Nikola of basing its personal truck on a 2010 idea by designer Adriano Mudri. Mudri is now director of design on the Croatian automaker Rimac.

“Adriano Mudri is the designer of the Street Runner idea truck,” Tesla writes in its authorized submitting. “The Street Runner idea truck was entered into the 2010 Michelin Design Problem, and was chosen for show on the 2010 North American Worldwide Auto Present.”

In keeping with Tesla, Nikola founder Trevor Milton met with Mudri “throughout 2014 and/or 2015.” Tesla says that Milton knew in regards to the Street Runner idea truck on the time he utilized for the design patents Nikola later used to sue Tesla and that Mudri’s design “constituted a big ingenious contribution” to the designs Nikola patented.

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