Nikola board member who helped company go public said proper due diligence of startup was done

FILE PHOTO: U.S. Nikola's logo is pictured at an event held to present CNH's new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pincawho helped the company go public earlier this year said on Thursday his firm was comfortable with the due diligence performed on the startup that has been called a"fraud" by a short seller.

Nikola has come under attack from short-seller Hindenburg Research, which has alleged the company misled investors and large automakers over its technology in a scathing report that sent Nikola’s shares down. Nikola has rejected the accusations and threatened legal action. Girsky is head of VectoIQ, which took Nikola public through a reverse merger with a special-purpose acquisition company earlier this year. He is the former vice chairman of General Motors Co, which earlier this month took an 11% stake in Nikola and said the companies would join forces to build electric pickup trucks and hydrogen fuel cell commercial tractor-trailers.

“We brought an army of people in here. We conducted a thorough process,” he said on the FT webcast. “Personally, I’ve driven those trucks four times. I’ve driven on electricity. I’ve driven on hydrogen. I think they’re awesome trucks.”

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves after hours: Adobe, FedEx, Nikola and moreSee which stocks are posting big moves after the bell on Tuesday, September 15. That’s interesting, but you really need to FireJimCramer, don’t you? CNBC needs to fire Jame Cramer for calling Nancy Pelosi crazy on air. It must have been really, really dark when Netflix dropped nine billion I guess.
Source: CNBC - 🏆 12. / 72 Read more »