News
A Timeline of Nikola’s Trevor Milton: From Fictional to Fraudulent
Earlier today, it was announced that former Nikola Motor CEO Trevor Milton had been indicted on three counts of fraud by U.S. prosecutors and the Securities and Exchange Commission (SEC) following comments and claims he made regarding the automaker he used to run. Through the years, Milton has gone from fictional to fraudulent, never bringing a truly functional product to the market or to demonstrations for that matter, and allegedly lying to investors along the way.
Established in 2014 by Milton, Nikola worked toward revolutionary new battery-electric and hydrogen fuel cell automotive powertrains for commercial and passenger vehicles. The beginning of the company’s somewhat inevitable fall was marked by the release of a shocking report from Hindenburg Research that claimed the company’s first vehicle demonstration of the Nikola One semi-truck was misleading, claiming the vehicle was not self-propelled. Nikola initially denied this but then admitted the vehicle was placed on a low-grade hill to appear to be functional. The company was not willing to put any more money into a prototype.
(Photo: Isaac Sloan/Nikola Motor)
However, Nikola’s long journey, which has culminated in the arrest of Milton with charges to be formally announced later today, started long before Hindenburg’s report.
- 2009 – Trevor Milton launches dHybrid after selling an alarm sales company for $300,000. dHybrid entered a contract with Swift, a major transportation company in the heavy trucking sector. Swift agreed to convert up to 800 trucks, securing a $16 million contract for dHybrid shortly after its establishment.
- Swift would later sue dHybrid, claiming the company’s truck did not work and some company executives “misappropriated capital for personal use,” according to the Hindenburg report.
- Hindenburg also claims that Milton reached out to dHybrid investors, claiming the contract with Swift was valued at $250 million – $300 million.
- 2014 – dHybrid acquired by Worthington for $15.9 million.
- 2016 – Nikola announces it will unveil the Nikola One electric semi, claiming that it will be fully functional at the December 1st event. Nikola claimed to have “The Holy Grail” of hydrogen tech for trucking just months before the event.
- 2017 – Nikola signs a deal with Powercell AB, a Swedish company, to supply hydrogen fuel cell stacks. Nikola also signed with Bosch, who agreed to help assist in the production of Nikola Two prototypes.
- 2018 – Nikola begins to market the Nikola One as the “largest energy consumer” in America. Targeting the Tesla Semi, Nikola filed a $2 billion lawsuit against Tesla, alleging that Tesla violated a design patent of the Nikola One. Several elements, including the wraparound windshield, mid-entry door, front fenders, and the electric truck’s aerodynamic body, were all claimed by Nikola to be taken by Tesla.
- Nikola said in November that it had refunded all 11,550 deposits for its vehicles. It did this to show that it was not operating on customer’s money
- 2019 – Nikola World event shows five zero-emission vehicles that will eventually produce and release. The company announced a partnership with Anheuser-Busch, who ordered 800 trucks from Nikola.
- Nikola offers Tesla a new design for its Cybertruck. Milton extends the pickup truck design to Tesla CEO Elon Musk, giving it to him as a “backup plan” if Cybertruck pre-orders were unsuccessful. Tesla has received over 1 million pre-orders for the Cybertruck since November 2019.
- 2020 – Nikola and GM come to a partnership to see GM handle fuel cell and battery systems in early September. The deal gives GM a $2 billion equity stake.
- Hindenburg releases its report on Nikola called, “Nikola — How to Parlay an Ocean of Lies into a Partnership with the Largest Auto OEM in America.” The report claims Nikola is “an intricate fraud” by gathering phone calls, emails, text messages, photographs, and other pieces of evidence that claim the company has been misleading shareholders. Hindenburg claims they’ve “never seen this level deception at a public company, especially of this size.”
- Nikola admits that the Nikola One was not self-propelled.
- Nikola CEO Trevor Milton steps down from his post at the helm of the company. “Nikola is truly in my blood and always will be, and the focus should be on the Company and its world-changing mission, not me,” Milton said. Stephen Girsky became the new Chairman of the Board.
- Nikola plans the next “Nikola World” event, but it is postponed as uncertainty due to its lack of executive leadership continues.
- GM reconsiders its partnership and eventually cuts back the terms of its conglomeration. NKLA stock falls 24% as GM partially backs out of the deal.
- 2021 – Nikola files a 10-K filing with the SEC following its Q4 2020 Earnings Report and admits its former frontman Milton misled shareholders by lying. The company said that several statements made by Milton were “inaccurate in whole or in part when made.”
- Today, July 29th – Trevor Milton surrenders to federal authorities on three counts of fraud for lying about “nearly all aspects” of Nikola’s business. Milton is required to forfeit all properties that are traceable to the commission of his offenses.
Milton will be presented by the U.S. Attorney’s Office for the Southern District of New York at 11 am EST today.
*LIVE EVENT*
There will be a press conference today at 11:00 a.m. to announce charges against Trevor Milton, the founder of Nikola Corporation and one-time executive chairman of the company. livestreamed on Facebook @USAOSDNY. pic.twitter.com/RPFuuUcuXq
— US Attorney SDNY (@SDNYnews) July 29, 2021
News
Tesla Cybercab sighting confirms one highly requested feature
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
A recent sighting of Tesla’s Cybercab prototype in Chicago appears to confirm a long-requested feature for the autonomous two-seater.
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
The Cybercab’s camera washer
The Cybercab prototype in question was sighted in Chicago, and its image was shared widely on social media. While the autonomous two-seater itself was visibly dirty, its rear camera area stood out as noticeably cleaner than the rest of the car. Traces of water were also visible on the trunk. This suggested that the Cybercab is equipped with a rear camera washer.
As noted by Model Y owner and industry watcher Sawyer Merritt, a rear camera washer is a feature many Tesla owners have requested for years, particularly in snowy or wet regions where camera obstruction can affect visibility and the performance of systems like Full Self-Driving (FSD).
While only the rear camera washer was clearly visible, the sighting raises the possibility that Tesla may equip the Cybercab’s other external cameras with similar cleaning systems. Given the vehicle’s fully autonomous design, redundant visibility safeguards would be a logical inclusion.
The Cybercab in Tesla’s autonomous world
The Cybercab is Tesla’s first purpose-built autonomous ride-hailing vehicle, and it is expected to enter production later this year. The vehicle was unveiled in October 2024 at the “We, Robot” event in Los Angeles, and it is expected to be a major growth driver for Tesla as it continues its transition toward an AI- and robotics-focused company. The Cybercab will not include a steering wheel or pedals and is intended to carry one or two passengers per trip, a decision Tesla says reflects real-world ride-hailing usage data.
The Cybercab is also expected to feature in-vehicle entertainment through its center touchscreen, wireless charging, and other rider-focused amenities. Musk has also hinted that the vehicle includes far more innovation than is immediately apparent, stating on X that “there is so much to this car that is not obvious on the surface.”
News
Tesla seen as early winner as Canada reopens door to China-made EVs
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y.
Tesla seems poised to be an early beneficiary of Canada’s decision to reopen imports of Chinese-made electric vehicles, following the removal of a 100% tariff that halted shipments last year.
Thanks to Giga Shanghai’s capability to produce Canadian-spec vehicles, it might only be a matter of time before Tesla is able to export vehicles to Canada from China once more.
Under the new U.S.–Canada trade agreement, Canada will allow up to 49,000 vehicles per year to be imported from China at a 6.1% tariff, with the quota potentially rising to 70,000 units within five years, according to Prime Minister Mark Carney.
Half of the initial quota is reserved for vehicles priced under CAD 35,000, a threshold above current Tesla models, though the electric vehicle maker could still benefit from the rule change, as noted in a Reuters report.
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y. That year, Tesla began shipping vehicles from Shanghai to Canada, contributing to a sharp 460% year-over-year increase in China-built vehicle imports through Vancouver.
When Ottawa imposed a 100% tariff in 2024, however, Tesla halted those shipments and shifted Canadian supply to its U.S. and Berlin factories. With tariffs now reduced, Tesla could quickly resume China-to-Canada exports.
Beyond manufacturing flexibility, Tesla could also benefit from its established retail presence in Canada. The automaker operates 39 stores across Canada, while Chinese brands like BYD and Nio have yet to enter the Canadian market directly. Tesla’s relatively small lineup, which is comprised of four core models plus the Cybertruck, allows it to move faster on marketing and logistics than competitors with broader portfolios.
Elon Musk
Tesla confirms that work on Dojo 3 has officially resumed
“Now that the AI5 chip design is in good shape, Tesla will restart work on Dojo 3,” Elon Musk wrote in a post on X.
Tesla has restarted work on its Dojo 3 initiative, its in-house AI training supercomputer, now that its AI5 chip design has reached a stable stage.
Tesla CEO Elon Musk confirmed the update in a recent post on X.
Tesla’s Dojo 3 initiative restarted
In a post on X, Musk said that with the AI5 chip design now “in good shape,” Tesla will resume work on Dojo 3. He added that Tesla is hiring engineers interested in working on what he expects will become the highest-volume AI chips in the world.
“Now that the AI5 chip design is in good shape, Tesla will restart work on Dojo3. If you’re interested in working on what will be the highest volume chips in the world, send a note to AI_Chips@Tesla.com with 3 bullet points on the toughest technical problems you’ve solved,” Musk wrote in his post on X.
Musk’s comment followed a series of recent posts outlining Tesla’s broader AI chip roadmap. In another update, he stated that Tesla’s AI4 chip alone would achieve self-driving safety levels well above human drivers, AI5 would make vehicles “almost perfect” while significantly enhancing Optimus, and AI6 would be focused on Optimus and data center applications.
Musk then highlighted that AI7/Dojo 3 will be designed to support space-based AI compute.
Tesla’s AI roadmap
Musk’s latest comments helped resolve some confusion that emerged last year about Project Dojo’s future. At the time, Musk stated on X that Tesla was stepping back from Dojo because it did not make sense to split resources across multiple AI chip architectures.
He suggested that clustering large numbers of Tesla AI5 and AI6 chips for training could effectively serve the same purpose as a dedicated Dojo successor. “In a supercomputer cluster, it would make sense to put many AI5/AI6 chips on a board, whether for inference or training, simply to reduce network cabling complexity & cost by a few orders of magnitude,” Musk wrote at the time.
Musk later reinforced that idea by responding positively to an X post stating that Tesla’s AI6 chip would effectively be the new Dojo. Considering his recent updates on X, however, it appears that Tesla will be using AI7, not AI6, as its dedicated Dojo successor. The CEO did state that Tesla’s AI7, AI8, and AI9 chips will be developed in short, nine-month cycles, so Dojo’s deployment might actually be sooner than expected.