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Nikola former CEO Trevor Milton ordered to pay $165 million in damages

Miljøstiftelsen ZERO, CC BY 2.0 , via Wikimedia Commons

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A regulatory filing from Nikola has revealed that former chief executive and founder Trevor Milton has been ordered to pay the company about $165 million in damages. The update appears to have been appreciated by investors, as NKLA stock ended the day up 8.9%. 

Nikola stated that an arbitration panel in New York determined last week that the company was due the funds over costs and damages that it incurred due to its previous CEO’s controversial actions. 

“On October 20, 2023, an arbitration panel in New York, New York awarded Nikola Corporation (the “Company”) approximately $165 million plus interest in an arbitration proceeding with the Company’s founder and former executive chairman. 

“The Company had sought reimbursement from its founder and former executive chairman for costs and damages arising from actions that were the subject of government and regulatory investigations, including the December 2021 Securities and Exchange Commission settlement and associated civil penalty. The Company intends to file with the arbitration panel an application to recover attorneys’ fees related to the matter,” Nikola’s filing read. 

As noted in a CNBC report, Nikola had agreed in December 2021 to pay a fine of $125 million to the SEC. The penalty was to settle allegations that the company defrauded investors about its products, business prospects, and technology. Nikola is also looking to secure reimbursement for its attorneys’ fees. 

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Prior to his controversial resignation from Nikola in September 2020, Trevor Milton was considered by media outlets as one of the up-and-coming leaders in the sustainable transport sector. Tesla short sellers have even compared Milton favorably against Elon Musk, Tesla’s CEO. 

Milton’s unraveling was triggered by an expose from Hindenburg Research, which accused Nikola of making false statements about its projects, such as the Nikola One. Milton was eventually found guilty in federal court last year of three counts of fraud. His sentencing is expected to be held on November 28. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Shark Tank’s O’Leary roasts Tim Walz over Tesla stock hate session

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Shark Tank personality and legendary investor Kevin O’Leary roasted former Vice Presidential nominee Tim Walz over his comments regarding Tesla shares earlier this week.

Walz, a Minnesota Democrat, said that he recently added Tesla (NASDAQ: TSLA) to his Apple Stocks app so he could watch shares fall as they have encountered plenty of resistance in 2025 so far. He said that anytime he needs a boost, he looks at Tesla shares, which are down 36 percent so far this year:

Walz, among many others, has been critical of Tesla and Elon Musk, especially as the CEO has helped eliminate excess government spending through the Department of Government Efficiency (DOGE).

However, Kevin O’Leary, a legendary investor, showed up on CNN after Walz’s comments to give him a bit of a reality check. O’Leary essentially called Walz out of touch for what he said about Tesla shares, especially considering Tesla made up a good portion of the Minnesota Retirement Fund.

As of June 2024, the pension fund held 1.6 million shares of Tesla stock worth over $319.6 million:

O’Leary continued to slam Walz for his comments:

“That poor guy didn’t check his portfolio and his own pension plan for the state. It’s beyond stupid what he did. What’s the matter with that guy? He doesn’t check the well-being of his own constituents.”

He even called Walz “a bozo” for what he said.

Of course, Walz’s comments are expected considering Musk’s support for the Trump Administration, as the Tesla CEO was a major contributor to the 45th President’s campaign for his second term.

However, it seems extremely out of touch that Walz made these comments without realizing the drop was potentially hurting his fund. While we don’t know if the fund has sold its entire Tesla holdings since June, as a newer, more recent report has not been released yet, it seems unlikely the automaker’s shares are not still making up some portion of the fund.

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Tesla attackers face 5-20 years in prison if convicted, warns DOJ

Burning Tesla cars & Superchargers isn’t just a protest—it’s a federal offense. The DOJ warns Tesla attackers could get 5-20 years in prison.

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(Credit: One Tire Fire)

Alleged Tesla attackers could face between 5 to 20 years in prison if convicted, warns the Justice Department.

According to U.S. Attorney General Pamela Bondi, three people have been accused of using Molotov cocktails to set Tesla vehicles and charging stations on fire. Prosecutors recently announced the arrests of the three defendants.

“Let this be a warning: if you join this wave of domestic terrorism against Tesla properties, the Department of Justice will put you behind bars,” noted Bondi.

Bondi echoed the words of Special Agent Spencer Evans from the FBI’s Las Vegas Field Office. Evans emphasized to the public that setting Tesla vehicles and charging stations on fire is a federal crime.

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The first defendant in the Tesla arson cases is Lucy Grace Nelson who has pleaded not guilty and been released on bond. A criminal complaint states that Nelson was spotted at a Tesla dealership in Loveland, Colorado, a few times in January and February 2025. The 42-year-old was charged with possession of a destructive device and malicious destruction of property after police found a container of gasoline, a box of bottles, and wicks in Nelson’s car.

The second person arrested in Tesla’s arson cases is Adam Matthew Lansky, who has been accused of throwing eight Molotov cocktails at a Tesla dealership in Salem, Oregon. The 41-year-old is detained while awaiting trial and has not entered a plea.

The last alleged Tesla arsonist is Daniel Clarke-Pounder, who has been charged with throwing Molotov cocktails at Tesla charging stations in North Charleston, South Carolina. Witnesses reported seeing a man spray-paint a profane message about President Trump and the words “Long Live Ukraine,” in the Tesla parking lot. The 24-year-old was released on a $10,000 bond and has not yet entered a plea.

Attacks on Tesla cars, charging stations, and stores have spread throughout the United States recently as more people take their anger for Elon Musk out on the American car manufacturer. Luckily, no one has been injured or died from any of the attacks.

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Honda and Acura EVs to gain Tesla Supercharger access this June 2025

This provides Honda and Acura EVs access to over 20,000 Superchargers across the United States.

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Autosdeprimera, CC BY 3.0 , via Wikimedia Commons

Honda and Acura electric vehicles will soon be plugging into Tesla’s Supercharger network, with approved NACS-CCS adapters rolling out to Prologue and ZDX owners in June 2025.

This provides Honda and Acura EVs access to over 20,000 Superchargers across the United States.

Adapters Ensure Safety

Starting June 2025, Honda Prologue and Acura ZDX drivers can acquire a Honda-approved NACS-CCS DC fast-charging adapter at authorized U.S. dealerships, with pricing set closer to launch. Tested for safety and compatibility, it’s the only DC adapter that Honda recommends for its EVs at NACS stations, as noted in a press release

Ryan Harty, assistant vice president of Sustainability & Business Development at American Honda Motor Co., Inc., shared his thoughts on the matter. “Adding Tesla Supercharger network access to the charging networks already available to our EV customers means industry-leading fast-charging access for Honda and Acura EV drivers,” he said.

Tesla requires approved NACS adapters at its Superchargers, and Honda strongly recommends that Prologue and ZDX owners use approved adapters. Honda also noted that damage caused by using unapproved adapters may not be covered by cars’ limited warranties.  

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Honda’s Big Charging Vision by 2030

Honda’s not stopping at Tesla’s network. By 2030, Prologue and ZDX owners are expected to tap roughly 100,000 DC fast-charge points across North America, blending Tesla Superchargers with IONNA’s new network, EVgo, and Electrify America. 

“By the end of this decade, we strive to provide Honda and Acura EV drivers with the most convenient and easy charging at more than 100,000 charge points nationwide, helping people choose to purchase an EV for the many benefits of driving one,” Harty stated.

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