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Former Nikola CEO Trevor Milton defends his Board nominees

Miljøstiftelsen ZERO, CC BY 2.0 , via Wikimedia Commons

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Former Nikola CEO Trevor Milton is fighting back against the Board of Directors’ decision to reject his five director nominees. The Nikola Board announced its rejection of Milton’s director nominees earlier this month. 

Milton had nominated Cole Cannon, Derek Johnson, Hans Peterson, Paul Southam, and Dave Sparks, who runs the HeavyD YouTube channel, for Nikola’s Board of Directors. The current Nikola Board cited several reasons behind its rejection of Milton’s nominees, from their alleged lack of experience in a public company to a lack of skills. 

“The director nominees have no public company experience, add no skills or experience to the board, and indisputably lack the depth of experience that the current Nikola board members bring to the Company. Additionally, it is the Company’s belief that the director nominees lack the expertise or knowledge needed to navigate the complexities of a zero-emissions trucking and energy infrastructure business,” Nikola’s current Board wrote in a press release

In a press release, M&M Residual, LLC, an entity connected to Milton, together with its affiliates, argued that the former CEO’s director nominees should be considered. As per the shareholder group, which owns about 4.5% of Nikola stock, Milton’s selections should help the company fix its issues and put it back on a path to value creation. The group argued that Nikola’s leadership today has shown subpar performance, with the company’s stock nearly getting wiped out.

“Since taking over as Chair in 2020, CEO Steve Girsky and his Board have overseen a staggering and consistent decline in Nikola’s stock from $30+ per share to a delisting Nasdaq price of less than seventy cents per share… For approximately four years now, the Board has overseen operational underperformance, value destructive acquisitions, the breakdown of the Iveco Group-Nikola partnership, the loss of meaningful European market share and the sale of key assets while taking on debt. These actions (among other concerning missteps surrounding safety and disclosures) have resulted in the destruction of nearly 100% of stockholder value.

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Concerningly, the Board also diluted Nikola shares to the tune of an additional 800 million last year, so that over 1.6 billion total shares are now authorized with over 1 billion shares in circulation. After destroying significant value and diluting stockholders as Chair, Steve Girsky then took the helm as CEO in August 2023. Under Mr. Girsky’s leadership, stockholders suffered an approximate 72% decline in value. No matter how you look at it, over all relevant time periods this management team and Board have obliterated stockholder value and put our Company at risk,” the stockholder group noted. 

The group claimed that it had been approached by numerous stockholders who wish to see the current leadership of Nikola replaced. M&M Residual, LLC and its affiliates’ press release also noted that Milton’s five picks for Nikola’s director post have already started working on an operational strategy that would improve the company. 

“Our Group has been approached by numerous stockholders who want to see CEO Steve Girsky and his Board replaced with high-integrity individuals. This is a reasonable request, especially considering Nikola recently disclosed that substantial doubt exists regarding its ability to continue as a going concern through the next 12 months… In stark contrast to the current Board, our independent slate includes proven founders and executives who collectively possess the operational, supply chain, and electric vehicle experience that we believe will be required to initiate a value-enhancing turnaround at Nikola. Our five-member slate has already begun working on an operating strategy that considers the interests of stockholders, employees, partners, and customers,” the shareholder group noted. 

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

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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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GM CEO Mary Barra says she told Biden to give Tesla and Musk EV credit

“He was crediting me, and I said, ‘Actually, I think a lot of that credit goes to Elon and Tesla…You know me, Andrew. I don’t want to take credit for things.”

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General Motors CEO Mary Barra said in a new interview on Wednesday that she told President Joe Biden to credit Tesla and its CEO, Elon Musk, for the widespread electric vehicle transition.

She said she told Biden this after the former President credited her and GM for leading EV efforts in the United States.

During an interview at the New York Times Dealbook Summit with Andrew Ross Sorkin, Barra said she told Biden that crediting her was essentially a mistake, and that Musk and Tesla should have been explicitly mentioned (via Business Insider):

“He was crediting me, and I said, ‘Actually, I think a lot of that credit goes to Elon and Tesla…You know me, Andrew. I don’t want to take credit for things.”

Back in 2021, President Biden visited GM’s “Factory Zero” plant in Detroit, which was the centerpiece of the company’s massive transition to EVs. The former President went on to discuss the EV industry, and claimed that GM and Barra were the true leaders who caused the change:

“In the auto industry, Detroit is leading the world in electric vehicles. You know how critical it is? Mary, I remember talking to you way back in January about the need for America to lead in electric vehicles. I can remember your dramatic announcement that by 2035, GM would be 100% electric. You changed the whole story, Mary. You did, Mary. You electrified the entire automotive industry. I’m serious. You led, and it matters.”

People were baffled by the President’s decision to highlight GM and Barra, and not Tesla and Musk, who truly started the transition to EVs. GM, Ford, and many other companies only followed in the footsteps of Tesla after it started to take market share from them.

Elon Musk and Tesla try to save legacy automakers from Déjà vu

Musk would eventually go on to talk about Biden’s words later on:

They have so much power over the White House that they can exclude Tesla from an EV Summit. And, in case the first thing, in case that wasn’t enough, then you have President Biden with Mary Barra at a subsequent event, congratulating Mary for having led the EV revolution.”

In Q4 2021, which was shortly after Biden’s comments, Tesla delivered 300,000 EVs. GM delivered just 26.

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Tesla Full Self-Driving shows confident navigation in heavy snow

So far, from what we’ve seen, snow has not been a huge issue for the most recent Full Self-Driving release. It seems to be acting confidently and handling even snow-covered roads with relative ease.

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Credit: Grok

Tesla Full Self-Driving is getting its first taste of Winter weather for late 2025, as snow is starting to fall all across the United States.

The suite has been vastly improved after Tesla released v14 to many owners with capable hardware, and driving performance, along with overall behavior, has really been something to admire. This is by far the best version of FSD Tesla has ever released, and although there are a handful of regressions with each subsequent release, they are usually cleared up within a week or two.

Tesla is releasing a modified version of FSD v14 for Hardware 3 owners: here’s when

However, adverse weather conditions are something that Tesla will have to confront, as heavy rain, snow, and other interesting situations are bound to occur. In order for the vehicles to be fully autonomous, they will have to go through these scenarios safely and accurately.

One big issue I’ve had, especially in heavy rain, is that the camera vision might be obstructed, which will display messages that certain features’ performance might be degraded.

So far, from what we’ve seen, snow has not been a huge issue for the most recent Full Self-Driving release. It seems to be acting confidently and handling even snow-covered roads with relative ease:

Moving into the winter months, it will be very interesting to see how FSD handles even more concerning conditions, especially with black ice, freezing rain and snow mix, and other things that happen during colder conditions.

We are excited to test it ourselves, but I am waiting for heavy snowfall to make it to Pennsylvania so I can truly push it to the limit.

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Tesla hosts Rome Mayor for first Italian FSD Supervised road demo

The event marked the first time an Italian mayor tested the advanced driver-assistance system in person in Rome’s urban streets.

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Credit: @andst7/X

Tesla definitely seems to be actively engaging European officials on FSD’s capabilities, with the company hosting Rome Mayor Roberto Gualtieri and Mobility Assessor Eugenio Patanè for a hands-on road demonstration. 

The event marked the first time an Italian mayor tested the advanced driver-assistance system in person in Rome’s urban streets. This comes amid Tesla’s push for FSD’s EU regulatory approvals in the coming year.

Rome officials experience FSD Supervised

Tesla conducted the demo using a Model 3 equipped with Full Self-Driving (Supervised), tackling typical Roman traffic including complex intersections, roundabouts, pedestrian crossings and mixed users like cars, bikes and scooters.

The system showcased AI-based assisted driving, prioritizing safety while maintaining flow. FSD also handled overtakes and lane decisions, though with constant driver supervision.

Investor Andrea Stroppa detailed the event on X, noting the system’s potential to reduce severe collision risks by up to seven times compared to traditional driving, based on Tesla’s data from billions of global fleet miles. The session highlighted FSD’s role as an assistance tool in its Supervised form, not a replacement, with the driver fully responsible at all times.

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Path to European rollout

Tesla has logged over 1 million kilometers of testing across 17 European countries, including Italy, to refine FSD for local conditions. The fact that Rome officials personally tested FSD Supervised bodes well for the program’s approval, as it suggests that key individuals are closely watching Tesla’s efforts and innovations.

Assessor Patanè also highlighted the administration’s interest in technologies that boost road safety and urban travel quality, viewing them as aids for both private and public transport while respecting rules.

Replies on X urged involving Italy’s Transport Ministry to speed approvals, with one user noting, “Great idea to involve the mayor! It would be necessary to involve components of the Ministry of Transport and the government as soon as possible: it’s they who can accelerate the approval of FSD in Italy.”

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