News
Nikola Corp. agrees to pay $125 million penalty to SEC
Nikola Corporation will pay a $125 million penalty to settle charges against founder Trevor Milton, who misled investors and is currently under indictment for three counts of fraud.
The Securities and Exchange Commission charged Milton for using his social media accounts, especially his Twitter page, to mislead investors regarding the progress of the company’s products. Over the course of Milton’s tenure as CEO of Nikola, he made many claims that ended up being false, most notably a claim that the Nikola One, the company’s semi-truck project, was self-propelled. It was later revealed by Hindenburg Research the One was rolled down a low-grade hill to appear to be self-propelled. Nikola later admitted the vehicle was not operational, and it did not want to funnel any more funds into a prototype.
Nikola said the entire settlement amount would be paid back over two years, according to Reuters. It has yet to be approved by a vote of SEC commissioners. The company also said it would seek reimbursement from Milton for costs and damages related to the investigation and subsequent penalty.
In July, Milton was arrested and charged with three counts of criminal fraud for allegedly lying about “nearly all aspects” of Nikola’s business. Milton shall be forced to forfeit all properties traceable to the commission of his offenses, which could include over $1 billion Milton acquired after Nikola Motor went public last year. Milton’s tab could increase by as much as $125 million if Nikola decides to pursue him for additional damages.
Trevor Milton’s legal team releases statement after Nikola founder indicted for fraud
Nikola is working to close this chapter of its story and move on from the Milton saga. The company said it is building pre-series trucks at its Coolidge, Arizona production facility and could deliver as many as 25 trucks to dealers and customers by the end of the year. In September, Nikola and Bosch Group signed a deal to produce fuel-cell power modules at the Coolidge facility. Nikola has also said that it has already built seven working hydrogen fuel-cell trucks currently testing in Germany and the United States. The company plans to release them on public roads by then of 2021.
Nikola is also currently suing Tesla, claiming Tesla infringed on several design patents for the Semi that Nikola owns the rights to. The case has been given new deadlines and must move forward by January 13, 2022.
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Lifestyle
Tesla makes the cut on California’s newest EV Rebate program
California just signed a $270 million EV rebate into law and it starts this summer.
California Governor Gavin Newsom signed SB 168 into law on Monday, July 13, 2026, creating a $270 million EV rebate program that delivers money directly at the dealership rather than as a tax credit applied months later. The program, called MyFirstEV, is funded equally by California’s state budget and participating automakers, with each contributing $135.5 million to make the math work.
The timing is directly tied to the loss of federal support when the $7,500 federal EV tax credit ended, removing the most significant consumer incentive that had driven EV adoption in the U.S. California, which accounts for roughly one-third of all EVs sold nationally, moved to fill that gap with a state-level replacement.
The rebate structure is straightforward. First-time EV buyers can receive $3,500 off any new battery-electric vehicle with an MSRP up to $50,000. Used EVs priced at $25,000 or below qualify for a $1,750 rebate. The credit is applied at the point of sale, which removes the friction of the old federal system where buyers had to wait for tax season to see the benefit. The program goes live later this summer, with the California Air Resources Board expected to release full participation details next month.
California hits Tesla Cybercab and Robotaxi driverless cars with new law
For Tesla buyers, the implications are mixed. The Tesla Model 3 RWD at $42,490 and the Model 3 Long Range at $47,490 both fall under the $50,000 cap and would qualify for the full $3,500 rebate for first-time buyers. The Model Y, which starts at $44,990 after Tesla’s recent price adjustment, also qualifies. The Model X, Model S, and Cybertruck all exceed the cap and receive no benefit. As Teslarati has reported, the program also includes a carve-out exempting California-based automakers like Rivian and Lucid from the price cap entirely, a provision that puts Tesla at a disadvantage since it relocated its headquarters to Texas in 2021.
Other qualifying vehicles include the Chevrolet Equinox EV, Ford Mustang Mach-E, Hyundai Ioniq 5, Kia EV6, and Volkswagen ID.4.
The Tesla Semi is entering a new Pilot Program with Paper Transport, LLC (PTI), a Wisconsin-based transportation provider. The company will test the Semi’s Long Range configuration through “dedicated operations within the Chicago market.”
Chicago presents an interesting challenge for the Semi, as it will be a colder-weather climate that will test the Semi’s ability to operate in lower temperatures and in potentially large accumulations of snow. This is something Tesla has been testing with the Semi in Alaska and even in Northern California during the colder months, but Chicago will present a truly tough midwestern winter.
Tesla Semi spotted on journey home after winter performance testing
PTI says it is using the Semi to evaluate its strategy of reducing transportation emissions while maintaining performance, reliability, and cost efficiency. These are major arguments for the Semi being introduced into new fleets.
CEO of PTI Tyler Ellison said:
“PTI has been a leader in sustainable transportation solutions for over 15 years. We take a consultative approach to helping customers identify and implement the right transportation solution for their network. Our partnership with Tesla expands our portfolio alongside renewable natural gas and intermodal, giving customers more ways to reduce Scope 3 emissions without compromising service or economics.”
PTI is far from the first company to adopt the Semi within a fleet, as Tesla entered strategic agreements with PepsiCo. and its subsidiary Frito-Lay for a Pilot Program that extended throughout the California region.
Tesla has let companies like those utilize the Semi to determine whether it would be suitable for their operations. Additionally, Tesla gets valuable information regarding the Semi’s performance, knowing what to improve and what is ideal for companies that will utilize the all-electric truck for regional and nationwide logistics.
PTI plans to utilize the Long Range configuration, which is priced at $290,000 and features a range of approximately 500 miles, a three-motor powertrain, up to 800 kW of drive power, and consumption of just 1.7 kWh per mile.
Tesla Semi pricing revealed after company uncovers trim levels
VP of Maintenance at PTI, Bryan Ellen, added:
“We are excited to partner with Tesla, leveraging their ever-evolving technology. We are bullish in our estimation of the parallels available between our dedicated model and the efficiency of their fully electric Class 8 tractor. We anticipate a growing synergy between our businesses as we work to facilitate this sustainable solution for our customers.”
PTI has logged more than 87 million miles using sources like compressed and renewable gas, but now is looking to take it a step further with fully electric operations.
Tesla revealed on Monday that it is building a new autonomous vehicle at Gigafactory Texas, its plant just outside of the City of Austin. This particular vehicle will be geared toward those who are in need of a wheelchair-accessible car that would require no human driver for operation.
According to a new report from Wired, Tesla’s Senior Policy Advisor, India Herdman, told members of the Washington D.C. City Council on Monday:
“We are in development for a purpose-built, wheelchair-accessible autonomous vehicle. We know that paratransit can be very difficult, and people who are confined to wheelchairs permanently should still be able to move around freely, so that is an active product being built by Tesla in Texas.”
This builds upon what CEO Elon Musk said last year on X, which confirmed the company was working on accessible rides within its Robotaxi platform, which currently is confined to the Model Y.
Absolutely
— Elon Musk (@elonmusk) September 19, 2025
Tesla is also developing the Cybercab, which started employee rides last week. However, this vehicle is not necessarily geared toward wheelchair accessibility.
That leaves a major gap in the autonomous ride-sharing program that Tesla is attempting to build; the company has been pretty clear that it does not want to complicate its manufacturing lines by bringing in a wide array of body styles.
However, it seems necessary to have something larger that could help transport people to appointments when they cannot drive. For wheelchair accessibility, the Robovan, which was unveiled at the “We, Robot” event in October 2024, seems to be the most ideal solution:
Herdman did not indicate whether she was referring to the Robovan or if Tesla is building yet another body style that is geared toward full autonomy but also caters to the handicapped.
Tesla might need to develop something specifically for the handicapped in order to align with the Americans with Disabilities Act, which prevents discrimination against people with disabilities in transportation services. Uber was hit with a lawsuit late last year for “refusing to reasonably modify its policies, practices, or procedures where necessary to avoid discriminating against riders with disabilities.”
Tesla would obviously like to avoid this.
It will be interesting to see what Tesla will do with this project, and whether it will introduce something new to the market or just continue with the Robovan.
Tesla makes the cut on California’s newest EV Rebate program
Tesla Semi enters new Pilot Program with interesting challenge
