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
Elon Musk
Elon Musk roasts India’s billionaire Mukesh Ambani as Starlink fight heats up
Elon Musk sarcastically calls Mukesh Ambani ‘Prime Minister’ as the Starlink India standoff escalates again.
Elon Musk escalated his public fight over Starlink’s launch in India on Friday, addressing Reliance chairman Mukesh Ambani as “Prime Minister Ambani” in a sarcastic post on X. “Please accept my humble apologies for not realizing that you are the real boss of India,” Musk wrote, before accusing Ambani of “monopolistic exploitation” and asking whether he would “consider allowing Starlink to compete.” In follow up posts, he said Starlink has proven essential during natural disasters and would help parts of India with no internet access.
The post came two days into a fight that Musk sparked up on Wednesday, when he said Starlink was “being blocked by certain oligarchs in order to maintain their monopolistic chokehold on the Indian people.” He called it “a crime against the people of India” and left the names out, adding only, “You can guess who they are.” Jio and Airtel together hold more than 80% of India’s telecom market. On Thursday, Musk asked whether Ambani is “the real boss of India” and said Starlink has spent five years complying with “every single law and requirement” of the Indian government.
Dear Prime Minister Ambani,
Please accept my humble apologies for not realizing that you are the real boss of India.
Naturally, you would prefer to maintain your monopolistic exploitation of the great people of India, but would you nonetheless consider allowing Starlink to compete?
There are many areas of India, as there are in all countries, with no Internet access, which denies children the opportunity for education and for small businesses the opportunity to sell their goods to a global market. Starlink would change their lives for the better.
Thank you 🙏
— Elon Musk (@elonmusk) October 9, 2026
India’s government has pushed back each time. The Ministry of Communications called the suggestion that its framework is unfair or discriminatory “baseless and misconceived.” Communications Minister Jyotiraditya Scindia said Friday that three companies hold satcom licenses: Starlink, Jio Satellite Communications, and Bharti backed Eutelsat OneWeb. Amazon’s Kuiper, now Amazon Leo, is still going through the process. None can launch until regulators finalize satellite spectrum pricing and the Home Ministry signs off on each company’s security compliance. Scindia said the telecom regulator and the Department of Telecommunications are close to a decision on pricing, The Hindu reported. Bharti chairman Sunil Mittal also said OneWeb is still waiting on approvals.
Starlink received its operator license in 2025 after a three year wait, and the space regulator IN-SPACe granted what industry executives called the last approval needed in July. The holdup since then centers on security, particularly concern that foreign operators could bypass Indian gateways.
Musk and Ambani have been on opposite sides of this before. In late 2024, Ambani argued for auctioning satellite spectrum, which Musk criticized as out of step with the rest of the world, and India chose administrative allocation instead. By March 2025, the two sides had signed a deal to sell Starlink devices in Reliance stores, and Starlink secured its telecom license that June. That partner is now also a competitor. Jio is reportedly weighing a constellation of 1,600 to 1,650 satellites costing an estimated $10 billion to $15 billion, while Akash Ambani has told shareholders Jio plans to lease capacity from global providers to move quickly.
Elon Musk
Elon Musk’s surprise addition to the X Takeover lineup has fans talking
Elon Musk will join Saturday’s X Takeover at Giga Texas for a live virtual interview.
Elon Musk will join X Takeover at Giga Texas on Saturday for a live virtual interview, according to Sawyer Merritt, who shared the news late Thursday. Musk will not be on stage in Austin. The conversation is set to stream for free on the @teslaownersSV account on X.
Organizers had kept expectations in check. In a September update, Tesla Owners Silicon Valley said Musk had appeared at the event twice before but was not promising a third appearance, even as fans hoped he would walk the Giga Texas grounds in person. A virtual spot matches 2024, when Musk gave a surprise interview of about an hour to the crowd in San Luis Obispo, as Teslarati reported at the time.
Wasn’t expecting this 🫡
— Tesla Owners Silicon Valley (@teslaownersSV) October 9, 2026
This year’s edition is a first in several ways. It is the first X Takeover held outside California and the first at a Tesla facility, with tickets selling out in eight days. Tesla provides the venue, but the event is produced independently by Tesla Owners Silicon Valley. The main event runs from 10 a.m. to 6 p.m. CT, followed by a drone and light show at 9 p.m. Maye Musk is the keynote speaker, Franz von Holzhausen is set for a virtual keynote, and Nicki Minaj is the special guest. Joe Tegtmeyer, whose drone footage Teslarati used to track the Optimus factory steel frame at Giga Texas, is also on the speaker list.
Musk’s interview topics have not been revealed, but the backdrop is busy. Tesla doubled its Cybercab fleet in Austin in late September, and last week Musk explained why Robotaxi hours only moved from 10 p.m. to 11 p.m.. Merritt also reported Thursday that Texas DMV records now show 319 registered Cybercabs, up from 169. NHTSA’s deadline for Tesla’s sworn answers on Cybercab certification is October 30, and Tesla reports third quarter earnings on October 21.
Fans who cannot make it to Austin can watch the livestream on X. Musk tends to say more in unscripted settings than he does in prepared remarks, which is the reason this one is worth having open on Saturday.
News
It’s official: SpaceX takes aim at Verizon, AT&T, and T-Mobile
SpaceX is buying 800 MHz spectrum from Grain to turn Starlink Mobile into a carrier.
SpaceX has agreed to buy a nationwide block of low band wireless spectrum, a deal the company says will let Starlink Mobile operate as a full US carrier rather than a satellite add-on for someone else’s network.
The company announced the agreement on X on Thursday afternoon, saying it will “pave the way for @Starlink to become a major mobile carrier in the US.” The seller is Grain Management, a private investment firm that confirmed in a statement that SpaceX will acquire 100% of its nationwide 800 MHz portfolio. That covers up to 14 MHz of paired spectrum in the 817 to 824 MHz and 862 to 869 MHz bands. Neither side disclosed a price, and the deal still needs FCC approval.
We announced an agreement to acquire a nationwide low-band spectrum license portfolio that will pave the way for @Starlink to become a major mobile carrier in the US.
With this new spectrum and our Gen2 constellation, Starlink Mobile can ensure Americans have access to high-speed mobile broadband no matter where they are → https://t.co/1Uaf48v5pm
— SpaceX (@SpaceX) October 8, 2026
Grain only recently picked up the licenses itself. It bought the portfolio from T-Mobile in a transaction that closed in August, paying cash plus its own 600 MHz spectrum. Rival AST SpaceMobile had been testing satellites on the same bands before SpaceX stepped in.
SpaceX said its 2 GHz spectrum will handle high bandwidth capacity, while the new 800 MHz layer “ensures Starlink Mobile’s signal penetrates through obstacles, such as walls, and can provide service to customers’ devices even when they are in buildings.” The company added that most existing phones already support the band, so customers would not need new hardware to use it.
That 2 GHz spectrum came from SpaceX’s EchoStar acquisition last year, which gave the company exclusive S band rights in the US and global Mobile Satellite Service licenses. The Grain spectrum is different in an important way: it is tailored for service from ground towers, not satellites. SpaceX said that combination would make Starlink Mobile “the first network operator to deploy both satellite and terrestrial spectrum.”
The announcement also follows a key regulatory win. Earlier this week, the FCC approved SpaceX’s plan to deploy 15,000 second generation Starlink Mobile satellites, which the company has said will carry up to 100 times the data density of the current system, as Teslarati previously reported.
Shares of AT&T, Verizon and T-Mobile fell in extended trading after the announcement. T-Mobile is currently SpaceX’s launch partner for Starlink Mobile in the US, which makes its position the most complicated of the three.
SpaceX has not been subtle about its plans. During the company’s August earnings call, President and COO Gwynne Shotwell said she expected Starlink Mobile to win over customers from the major carriers. “I anticipate us to be able to acquire quite a few of their customers because I think our service will be better,” she said, pointing to dead zone coverage and resilience during disasters. Shotwell also described plans for low cost cellular base stations that could pair with existing Starlink dishes.
SpaceX has targeted 2027 for deployment of its next generation Starlink Mobile satellites, with upgraded service expected by the end of that year. The FCC review of the Grain deal now determines when the terrestrial half of that network can come online.