NEW YORK — Trevor Milton, the creator of the carmanufacturer Nikola Corp., went on trial Monday on charges that he whipped up an financier craze for the start-up business with incorrect declares about its capability to produce trucks that run on electricalenergy or hydrogen fuel cells.
Nikola’s stock rate crashed and lotsof financiers suffered heavy losses in 2020 after reports emerged questioning Milton’s rosy declares about the business’s capability to produce cutting-edge automobiles.
In one example, the business put out a video that appeared to program a model truck driving down a desert highway. Prosecutors stated that in truth, the truck wasn’t functional and hadactually been rolled down a hill for the industrial.
The business’s marketing project won over lotsof smallersized financiers. Nikola shares reached a cost of close to $66 in June of 2020, bri