All discussion of Nikola Motors

[wnorris]

Nikola releases rebuttal to allegations. Too long to C&P here.

Nikola Corp | Nikola Sets the Record Straight on False and Misleading Short Seller Report

Pretty weak response IMO and validates many of the concerns highlighted in the Hindenburg report.

 

[HVM]

Nikola releases rebuttal to allegations. Too long to C&P here.

Nikola Corp | Nikola Sets the Record Straight on False and Misleading Short Seller Report

Pretty weak response IMO and validates many of the concerns highlighted in the Hindenburg report.

I was thinking the same, it confirm may points of Hindenburg Research. Tres are not ready, third party inverters, tape over labels. Continues the battery lie. Nikola One proto was never finished and can't move it's own power. Proves down hill video (LOL). ANddd they don't produce any hydrogen.

 

[HVM]

Lawfirm's consultation: Don't f*cking lie!

 

[Sanny]

I was thinking the same, it confirm may points of Hindenburg Research. Tres are not ready, third party inverters, tape over labels. Continues the battery lie. Nikola One proto was never finished and can't move it's own power. Proves down hill video (LOL). ANddd they don't produce any hydrogen.

So if I was a buyer of nicola truck, I would have my lawyer to check every word of the contract to make sure the truck drives under its own power up or down any hill, turns with the turn of the steering wheel (right and left), stops (all the time) when the pedal is pressed etc. Pretty expensive!

 

[JohnSnowNW]

That rebuttal was pretty much exactly what people expected, even the argument used to justify letting Joseph Smith power the semi.

 

[HVM]

What is this LDS, stuff? I am pretty sure Lysergic acid diethylamide is not spelled that way.


(I hope magical underpants work for Milton)

 

[Sanny]

I couldn't stop myself from reading Trevor Milton's twitter this weekend and I'm pretty sure that they are using bot accounts pretending to be Nikola fan investors. Not sure if it is illegal or not, but it is pretty visible to anyone who watched a couple of ICOs before.

 

[djgarrett21]

This kind of religious attack is not needed. I'm a Mormon and don't appreciate my beliefs being distorted. Travis Milton's lies are numerous and blatant enough to stand alone. Dude is a fraud plain and simple.

What is this LDS, stuff? I am pretty sure Lysergic acid diethylamide is not spelled that way.


(I hope magical underpants work for Milton)

Interesting that Nikola doesn't actually refute many of the claims. They just respond "we never actually said...". Best example is their commercial which is intended to make the truck appear driving under its own power. They don't refute that the truck wasn't self powered, just respond that "we never said it was driving itself, just that it was in motion".

Lots of spin and more BS. Surprised the stock isn't down even more today.

After reading their response I'm only more inclined to believe the Hindenburg report.

 

[dl003]

Nikola releases rebuttal to allegations. Too long to C&P here.

Nikola Corp | Nikola Sets the Record Straight on False and Misleading Short Seller Report

Pretty weak response IMO and validates many of the concerns highlighted in the Hindenburg report.

Oh god, it's *fully functional*, just not able to *move on its own power* yet, and totally *not a pusher*. So I guess the truck just drove on stage on the power of friendship and imagination, huh?

 

[ZsoZso]

Nikola releases rebuttal to allegations. Too long to C&P here.

Nikola Corp | Nikola Sets the Record Straight on False and Misleading Short Seller Report

Pretty weak response IMO and validates many of the concerns highlighted in the Hindenburg report.

Wow, they call this admission of deceit a "rebuttal" ???
Reading their response, they basically admit 11 of the points raised by the Hindenburg report, including the most damning downhill motion video and the fact that the truck on stage of the demonstration was not capable of driving / moving on its own power. All they bring up in their defense is that they did not actually make the false claims only implied them (such as showing the truck in motion and never said it was driving on its own power).
For the rest of the 53-11=42 points alleged by Hindenburg they do not even bother to respond, so we can take that as straight admission of guilt regarding those points.

 

[pz1975]

I can’t believe the SP is up despite the admission of lies and misperceptions. This company doesn’t have a single good thing going for it IMO other than the partnership with GM, which I assume GM is seriously regretting now.

 

[mtndrew1]

This is all so silly.

The core accusations boil down to there being no working truck, no working hydrogen station (largest in the world!) and no ability to move cargo with the specs provided.

To quash these allegations they can just bring their truck to the Phoenix headquarters (use a drone to show the 3.5 MW solar installation while there), hook up the Nikola truck to the hydrogen station and pump 50 kg or whatever of H2 into the tanks, then haul a full load of cargo to Los Angeles.

This should all be pretty easy to show at this point in their development.

 

[MP3Mike]

Nikola releases rebuttal to allegations. Too long to C&P here.

Nikola Corp | Nikola Sets the Record Straight on False and Misleading Short Seller Report

Pretty weak response IMO and validates many of the concerns highlighted in the Hindenburg report.

So they say this:

Short Seller Alleges That Nikola Buys and Does Not Make Inverters In-House: In its report, Hindenburg misrepresents that Nikola is claiming a third-party inverter is the Company’s own technology by placing a sticker over the supplier’s name. At no time did Nikola state that the inverter on the prototype truck shown in the video was the Company’s or would be used in production. Nikola has been designing, engineering and working on its own inverters for quite some time. The Company does use third-party parts in prototype vehicles, some of which may be subsequently swapped out for its own parts in production. This is common practice among vehicle manufacturers and Nikola often blocks supplier names from the view of media and competitors. Every program is different as they require different specifications and validation.

These allegations by the short seller are false and misleading, and designed to manipulate the market to profit from a manufactured decline in Nikola’s stock price.

But in this video, at about 29:30, Trevor certainly makes it sound like they make the inverter, and other companies are asking to use it:

So again it appears that Trevor's slightly vague statements are their saving grace.

 

[Sanny]

So they say this:



But in this video, at about 29:30, Trevor certainly makes it sound like they make the inverter, and other companies are asking to use it:

So again it appears that Trevor's slightly vague statements are their saving grace.

It is funny, but if you listen carefully he said : We do all the design in house - gears, bla bla,...and the inverters as well. All inverters on Nikola trucks are ... state of the art ..bla bla.
For the first time I thought that he is a brilliant speaker, he makes you to believe things that is kinda implied but was never said by him. They might just be designing some inverters (hand drawing by Milton on the plane will do it) and put off the shelf state of the art inverters on actual trucks and he will be factually correct.

 

[bkp_duke]

Why the hell is this stock positive today?

 

[Cape Coddess]

Could it be that some folks are buying on the GM purchase and have never read the Hindenburg report? Or is it possible that some are being greedy when others are being fearful??? Yikes!

 

[Doggydogworld]

Why the hell is this stock positive today?

They issued a "rebuttal"

So again it appears that Trevor's slightly vague statements are their saving grace.

Trevor doesn't understand most of this stuff. His claims are a mix of lies, gibberish and cluelessness. Sometimes it's hard to tell which is which. When he makes factually incorrect statements the company needs to immediately publish corrections (excuse me "clarifications"), like Tesla does. Dubious claims about the future usually fall under safe harbor disclaimers. NKLA often doesn't bother with corrections or safe harbor, a sign that no adults are present.

Today's "rebuttal" was written by adults, though. It's an exercise in misdirection and hair-splitting:
"Nikola never stated its truck was driving under its own propulsion in the video...."
"It was never described as “under its own propulsion” or “powertrain driven.....”

I think they hired "he didn't show fake power meter readings" KBM3 to help wordsmith the rebuttal, haha.

 

[smorgasbord]

Well, as I pointed out here days ago, they never actually said the truck in the video was powering itself.

And as I pointed out here also days ago, he does pan to and even point at the inverters while talking about "we build our own." Yeah, he doesn't say "we built this inverter," but at best he is being misleading.

If you keep watching past the bootloader updating nonsense, he gets to "all the software for all the controls on this vehicle..pretty much...was done by Nikola." I suppose the "pretty much" gives him another out.

 

[Cosmacelf]

Why the hell is this stock positive today?

My guess is that many investors do not read past the headlines. Oh well, a fool and his money are soon parted.

 

[HVM]

Why the hell is this stock positive today?

As an individual, humans give signs of intelligence. But as a group *they act more like lemming, (not the real ones, but the Disney™ kind).

If this or the other hydrogen BS makes you sad, here are anime girls singing Country Roads:

*(we)