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Nikola contractor behind “Nikola Insider” Twitter account testifies in Trevor Milton trial

Raquel Baranow, CC BY-SA 4.0 , via Wikimedia Commons

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The trial of former Nikola CEO Trevor Milton is underway, and on Tuesday, prosecutors showed the jury a video of the company’s most infamous video — Nikola One in Motion. The video featured the Nikola One prototype seemingly moving on its own power, though it was later revealed that Nikola simply towed the truck up a hill and let gravity do the work. 

Apart from the Nikola One in Motion video, the prosecution also called its first witness, Paul Lackey, an engineer at the electric drive company EVDrive and the person behind Twitter’s “Nikola Insider” account. Lackey was among the most vocal critics of Trevor Milton when Nikola’s controversies were emerging, and his posts on Twitter were pivotal in providing the public insights about what really happened to the Nikola One prototype. 

In his testimony, Lackey stated that the idea for the Nikola One to run purely on electricity, instead of a hybrid setup, came from another engineer at EVDrive, not Trevor Milton, according to a Bloomberg News report. More importantly, the Nikola contractor highlighted that the Nikola One was definitely not functional when it was unveiled in December 2016, contrary to Milton’s claims at the time. 

“It wasn’t finished. There was a lot of things that hadn’t been installed. Some components weren’t available,” he said. 

According to Lackey, he made a call to find out how the Nikola One in Motion video was produced. He ultimately learned that the Nikola One was towed to the top of a shallow hill and simply allowed to coast down. The video was also filmed with a camera angle which gave the impression that the vehicle was moving quickly. 

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Lackey noted that he actually got upset when he watched a video of the Nikola One’s unveiling, especially since it was a misrepresentation of the work that had been done for the vehicle. This aggravation was part of the reason why he opted to create his “Nikola Insider” Twitter account, which was launched after Trevor Milton responded to reports alleging that Nikola had overstated the abilities of the Nikola One. 

“I was sad and disappointed that he had done a major misrepresentation of the work that we had done,” he said. 

Trevor Milton could face a maximum sentence of 25 years behind bars if he gets convicted of his most serious charges. Assistant US Attorney Nicolas Roos, while addressing the jurors in his opening, alleged that Milton repeatedly lied for financial benefit during his tenure at Nikola. “This is Trevor Milton. He repeatedly lied to investors about his company, and he made a billion dollars by doing so. He started a company that was supposed to make zero-emission trucks, and he lied about all the important parts of the business,” Roos said. 

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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Elon Musk

Tesla analyst says Musk stock buy should send this signal to investors

“With Musk’s (Tesla stock) purchase, combined with the upward momentum for delivery expectations and robotaxi rollout, we are becoming more bullish.”

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(Credit: Tesla)

Tesla CEO Elon Musk purchased roughly $1 billion in Tesla shares on Friday, and analysts are now breaking down the move as the stock is headed upward.

One of them is William Blair analyst Jed Dorsheimer, who said in a new note to investors on Monday that Musk’s move should send a signal of confidence to stock buyers, especially considering the company’s numerous catalysts that currently exist.

Elon Musk just bought $1 billion in Tesla stock, his biggest purchase ever

Dorsheimer said in the note:

“With Musk’s (Tesla stock) purchase, combined with the upward momentum for delivery expectations and robotaxi rollout, we are becoming more bullish. This purchase is Musk’s first buy since 2020. To us, this sends a strong signal of confidence in the most important part of Tesla’s future business, robotaxi.”

Musk putting an additional $1 billion back into the company in the form of more stock ownership is obviously a huge vote of confidence.

He knows more than anyone about the progress Tesla has made and is making on the Robotaxi platform, as well as the company’s ongoing efforts to solve vehicle autonomy. If he’s buying stock, it is more than likely a good sign.

Tesla has continued to expand its Robotaxi platform in a number of ways. The project has gotten bigger in terms of service area, vehicle fleet, and testing population. Tesla has also recently received a permit to test in Nevada, unlocking the potential to expand into a brand-new state for the company.

In the note, Dorsheimer also touched on Musk’s recent pay package, revealing that William Blair recently met with Tesla’s Board of Directors, who gave the firm some more color on the situation:

“We recently participated in a meeting with Tesla’s board of directors to discuss the details of Musk’s performance package. The board is confident of its position in the Delaware case and anticipates a verdict by end of year. It does not expect a similar situation to occur under new Texas jurisdiction. Musk has the board’s full support, and we expect he’ll get more than enough shareholder support for this to pass with flying colors.”

Tesla stock is up over 6 percent so far today, trading at $421.50 at the time of publication.

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Morgan Stanley’s Adam Jonas dubs Tesla FSD a “game changer” after marathon drive

Jonas reported that FSD handled more than 99% of the miles.

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Credit: Tesla Europe & Middle East/X

Morgan Stanley’s analyst Adam Jonas shared a notable endorsement of Tesla’s Full Self-Driving (FSD) software after completing a 1,400-mile round trip from New York to Michigan in his Model Y. 

Jonas reported that FSD handled more than 99% of the miles, calling the system “a game changer” for long-distance driving.

Hands-free experience

Jonas drove his 2021 Tesla Model Y equipped with Hardware 3 and FSD Supervised v12.6.4, and he used the system nearly the entire trip. “Having your hands off the wheel and feet off the pedals for nearly 12 hours of driving is a real game changer that is hard to appreciate without experiencing it for yourself,” he noted.

He explained that outside of two heavy downpours, one on the Pennsylvania Turnpike and another in suburban Detroit, plus some light maneuvering in fast food parking lots, FSD handled the drive without any human intervention. “FSD made no mistakes or close calls that I recall. The system handles highways very safely and confidently. I cannot imagine buying another EV without FSD.”

Broader implications

Jonas added that he has used FSD consistently over the past 18 months, and the $8,000 he paid for the feature feels like a bargain considering the value. He also praised Tesla’s Supercharging network, which supported his trip without issue.

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Jonas has been one of Wall Street’s most closely followed voices on Tesla, and his comments add weight to the ongoing debate about the role of autonomy in the company’s future. His current price target for Tesla stock stands at $410. During Morgan Stanley’s 13th Annual Laguna Conference, he echoed similar experiences with Tesla’s software, emphasizing that FSD “probably drove well over 99% of the miles” on his recent trips.

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Elon Musk

Elon Musk just bought $1 billion in Tesla stock, his biggest purchase ever

Prior to this latest move, Musk’s most recent purchase was for about 200,000 shares worth $10 million in 2020.

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Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons


Tesla (NASDAQ:TSLA) shares rose on Monday after CEO Elon Musk disclosed a rare insider purchase of company stock worth about $1 billion. 

A filing with the U.S. Securities and Exchange Commission (SEC) revealed that Musk acquired 2.57 million shares last Friday at various prices. The move represents Musk’s largest TSLA purchase ever by value, as per Verity data.

Elon Musk’s TSLA purchase

The disclosure sent Tesla shares up more than 8% in premarket trading Monday, as investors read the purchase as a notable vote of confidence, as stated in a CNBC report. Tesla stock had closed slightly lower Friday but remains more than 25% higher over the past three months. It should be noted that prior to this latest move, Musk’s most recent purchase was for about 200,000 shares worth $10 million in 2020.

Market watchers say the purchase could help shore up investor sentiment amid a volatile year for TSLA stock. Shares have faced pressure from a variety of factors, from year-over-year sales challenges due to the new Model Y changeover, political controversies tied to Musk, and reduced U.S. incentives for EVs under the Trump administration. Nevertheless, analysts such as Wedbush’s Dan Ives stated that Musk’s purchase was a “huge sign of confidence for Tesla bulls and shows Musk is doubling down on his Tesla A.I. bet.”

Tesla and Elon Musk

Musk already owns about 13% of Tesla, and his latest purchase comes as the company prepares for a key shareholder vote in November. Investors will decide whether to approve a compensation package for Musk that could ultimately be worth as much as $975 billion if ambitious market value milestones are achieved. The package has a long-term target of pushing Tesla’s market capitalization to $8.5 trillion, compared with about $1.3 trillion at Friday’s close.

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Wall Street’s current consensus price target still implies a roughly 20% decline from current levels, though some Tesla bulls remain optimistic that the company could shift its focus toward autonomy, AI, and robotics. Musk has also asked shareholders to approve an investment into his latest venture, xAI.

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