Today, Explained Nikola (not Tesla)
Oct 21, 2022
Trevor Milton, the controversial founder of electric truck startup Nikola, shares his journey through ambition and fraud after his conviction for misleading investors. Alongside Rebecca Highwell, a Recode reporter, they discuss the tough realities electric vehicle startups face against giants like Tesla. The conversation delves into the struggles of producing EVs, the hurdles in sourcing essential materials, and the urgent need for a robust domestic supply chain to combat climate change.
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Nikola's Rise and Fall
- Nikola was one of the second-generation EV companies alongside Rivian and Lucid.
- It went public in 2020, capitalizing on the EV market's exuberance after Tesla's success.
Hydrogen Fuel Cell Vision
- Nikola's founder, Trevor Milton, envisioned hydrogen fuel cell semi-trucks.
- This differentiated Nikola from battery-electric vehicles, addressing trucking's weight limitations.
The Salesman Founder
- Trevor Milton, Nikola's founder, was a skilled salesman rather than an engineer or scientist.
- His background in the LDS Church and mission trips likely honed his persuasive abilities.