Head of EV startup Nikola steps down amid fraud allegations

Nikola, a startup working on battery- and hydrogen-electric trucks, announced Sunday that its executive chairman and founder, Trevor Milton, has stepped down.

The company also named current board member and previous General Motors vice chairman Stephen Girsky as its new chairman, effective immediately.

The moves come just days after it was reported that both the Department of Justice and the Securities and Exchange Commission were probing Nikola over allegations of fraud brought up by investment company Hindenburg Research earlier in September.

Hindenburg Research, which called Nikola an “intricate fraud” in a report published Sept. 10, has gone as far as to claim Milton falsely claimed to have proprietary technology, and that the company used mockups in its promotional videos instead of functioning vehicles.

Nikola Badger

Milton owns 20% of Nikola whose share price at one point valued the company higher than Ford. This is despite Nikola never having delivered an

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American Car Brands—Besides Ford—to Race Le Mans

Few American race cars are as revered as the Ford GT, which earned motorsports immortality thanks to its podium sweep at the 1966 24 Hours of Le Mans (as depicted in the film Ford v Ferrari). Its endurance racing legacy was revived with the launch of the latest-generation, EcoBoost-powered Ford GT racing program, one that scored a breakout class win at the 2016 Le Mans race—50 years after Ford’s signature triumph in 1966.

Although it’s the most legendary American Le Mans car of all time, the Ford GT is far from the only one to compete and win at the French endurance race. The land of the red, white, and blue has a rich heritage of building racers to race in the other land of the red, white, and blue. Some were developed by mainstream automakers, others by independent outfits, with results ranging from spectacular failures to checkered-flag

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