35 Burst results for "Nikola"
GM Won't Take Stake in Nikola
"General Motors has reworked and scaled back its deal with the electric truck maker, the nickel a corporation. It will no longer take a stake in the company and its killed plans to build an electric pickup named the Badger. GM will still provide Niccolo with fuel cell
GM recalling nearly 69K Bolt electric cars due to fire risk
"Startups extended their winning streak on Friday, buoyed by strong earnings results from some of their peers and Joe Biden's presidential wind, Electromechanical Nikola and Lordstown Motors, all surging higher in that group. Meanwhile, General Motors is recalling about 70,000 of its Chevrolet Bolt battery powered cars due to fire risk, the latest in a serious of safety related automatic automaker callback stemming from problems with electric vehicle batteries. Recall effects 2017 to 29 Chevy volts with business Now
GM Reveals All-Electric Hummer
"Had been waiting for an all new all electric version of the Hummer designed for off road and on road use, and with acceleration that would have been impossible in a combustion engine version. We talked with GM President Mark Royce about where this new Hummer will fit in the marketplace. JMC is really the on ly premium truck brand out there. If you think about it. Most of their competitors are brand extensions for that, So we have GMC and we have homer. In a premium channel for trucks, and that's a very distinguishable piece of what we're doing with both brands you have the 84 84 acts and things like that for for GMC. I think you'll see that that grow. But then you have the Hummer. You know, the Hummer model under the GMC umbrella as well, which is sort of the ultimate off road piece of that so very carefully designed and executed with different attributes, different designs and different gotta market strategies. Mark you mentioned competitors. Let's talk about competitors in the E V space you have for now, with a 1 50 evey they've announced you've got, of course, Tesla with their pickup truck. How does this compare this Hummer evey year? The direct competitors against Are you going for a somewhat different market? I think it's like nothing else on believe it that this truck is is very different from What are competitors have described most recently with the peace of the light duty pickup truck, and then a few quite a few months back with What with the other electric only competitors is doing with their truck and I don't I don't really know until we see those come into the marketplace with those trucks are but I can tell you what this is, and this is Right now, Like nothing else. Talk about what may be a sister truck. The badger from Nikola GM obviously announced a fairly large arrangement with nickel a lot of controversy around it. Is the badger going forward. Do you see that? Is something complimentary to what you're doing? The Humber evey? Well, you know, we won't sell in market that truck That will be Nicholas. That's what Nick was doing. And the big difference there is that truck will will have a fuel cell. And so it's still a fuel cell electric truck but quite different or offering with our lt impacts on the pure electric Hummer so very different. But as far as you know, the badger and the nickel deal is going forward. Right now we're going forward and so exciting piece of this is Taking what is I believe the best fuel cell in the world with our fuel cell that is made in our joint venture with Honda right here in Michigan on DH, taking that fuel cell and looking at deploying it in the heavy duty transport market. With large trucks. You know, the class seven and eight and then also in the light duty badger truck that you mentioned. So, yes. So with the Hummer If you put this in the larger context of General Motors and its move into electric vehicles, you've announced the lyric the Cadillac lyric. Now they have the Hummer. Evey is understanding. There's a bold UV coming out as well. How does this fit into the overall portfolio that you're developing? And what comes next? It's a great question. If you look at the way we've designed the platforms, both on the A truck platform are BT Battery Electric truck platform and then are better electric vehicle platform. Those two dedicated platforms are quite different. Onda approach is quite different than many others that are in introducing electric vehicles. Reason why I say that is because again we're deploying our module or pack are multi M battery source out of our Lordstown plant in Ohio. That is Designed and executed to be high volume. And the reason why that's important again for the customer and for for the market is because we can really take because of scale. And chemistry that we've developed. In fact, right here we have a chemistry developing lab for ourselves and our packs right here at the Tech center in Warren, Michigan. That quick development of chemistry and then deploying that chemistry and our lt impacts is really the secret time driving that cost down so that we can offer Not only Hummers and Cadillacs, but Eve's and beyond for the mass market piece of our other brands that do higher volume and right in the heart of the market, like Chevrolet and Chevrolet crossovers, trucks, all of those vehicles and so this has been really, really done very carefully. And that goes also into the electric motors that we're doing ourselves. That was GM President Mark Royce on the All new Hummer evey coming out of thin next year for Bloomberg. First word news. We go
West African regional bloc lifts sanctions against Mali
"Molly and the transition government that has taken over a mixture of military and civilian personnel taking over after the coo of a few weeks back now to express their disapproval for the coup, the West African regional block Echo s imposed economic sanctions. It's now lifted. Those sanctions because of the appointment of a mixed civilian and military transition government. But the political crisis carries on particularly as regards the growing jihadist threat as well. There's all sorts of rumors back and forth about the release of militants and other people from prison. In return, it's hoped for two hostages. One of whom is a French humanitarian, the other whom a senior opposition figure, actually it's not quite clear whether that's happened or not. Andrew Levitch is watching the situation. He is a Mani watch it with the European Council on Foreign Relations asked him first off how the sanctions which have just being lifted, have bean affecting ordinary people in Mali. Phyllis ordinary people. It really depends on what sector you were, and there are many people who commented during son that they weren't particularly affected by sanctions. So it was a bit of a mixed bag for the impact on Mullins. But certainly it does mean that for many people, I think the process of the transitional government can move forward. And there's the less confusion and less back in port between Nikolas and Molly and then course also between the international community in Mali. And what do you think of the end of the set up as it is? Echo have Bean satisfied that there are sort of civilians in government positions, But there's still many, many military people in government positions as well. In terms of the transition government. Do you think they've done a good job? I mean, good figurehead. Is there a mechanism for the handover? Which everyone agrees on? All the truth is that we don't know. Right now. It is still very early on DH as I've written. This transitional process has been steered by the military wanted from the beginning. Embattled change their very song represented in some of the key ministries of transitional government. Of course, the head of the National Committee for the Salvation of the People is still the vice president of the tradition, and the president and prime minister really seem to have been hand cooked by the CNST. That doesn't necessarily mean That the transition won't go smoothly. It's just that what we're seeing now is that the military and the military junta has kept their hand very firmly on this process. And so we're going to have to see what unfolds over the next 18 months. There's a very ambitious set of reforms that have been laid out and the transition government. There are some people in a government very well regarded. But at the same time, apparently some cause to be concerned by how predominantly the winter is featured in this transitional government. Do the military have an incentive to cede power? They say they're going to go do they have an incentive to go? Well, so this is part of the competition because there have been a number of allegations of corruption within the security services wasn't she is? Of course, there have been some reports that The members were very unhappy at this corruption they've promised to fight. Some of the corruption that was alleged against the son of the former president, of course, was in the National Assembly but also was the chair of the National Assembly's Commission on Defense and Security, the transitional president promised in his opening speech as president after he's Forbes oath of office. To combat this corruption, but we're going to have to see if it actually happens in practice. That's when you did the hard part also about the kind of the reports and they are conflicting reports. We should say of the possible release by extremists of two figures, a French aid worker and the leader of the opposition as well, who was taken while campaigning in the Timbuktu area. Would this indicate on opening of relations between the hunter on DH militant forces in the north? What do we read into that? Because that would seem on the face of it to be good news. Certainly thank everyone is hoping that these reports are true and that the two hostages will be released soon. There's been a lot of conflicting information just today and yesterday about What was actually happening. This does seem to mark very significant concession on the part of the government. Of course, these negotiations have been ongoing for years off and on to start and then, of course, policy say they've been going on again off and on since he was kidnapped, So this isn't just something from the hunter. I think we can safely conclude that this wouldn't have gone forward without their approval.
"nikola" Discussed on MarketFoolery
"Three weeks ago on this show, , we talked about Nikola, , the electric truckmaker because. . On Day, shares , of Nikola were more than thirty five percent on the news of its partnership with General Motors. . That was a lifetime ago. . The deal was supposed to close today. . That's not going to happen in terms of closing today and. . This seems like a story in Flux Maria because a couple of hours ago I was looking at that. . The available information and thinking to myself well, , I think I. . THINK GM is backing out of this deal. . We had the whole thing with Nikola and the founder Chairman of the board resigning immediately. . Deleting his social media accounts, , allegations coming out and it, , and it seemed like. . A couple of hours ago. . Maybe Chan was just backing off altogether. . Now it looks like they might be just negotiating better terms because shares of Nikola were down first thing this morning. . then. . All of a sudden. . They spiked up eleven twelve percent <hes>. . Where do you think this is going? ? It's really interesting. . So Nicola is has ambitious to make electric and hydrogen powered trucks. . They want us and lease battering hydrogen-powered semi trucks, , tip businesses for anyone who wasn't sure what the company did. . So what this deal was supposed to be was GM would get two billion and Meka ls stock paid for with services and various. . GM. . Parts and components and GM engineer and manufactory manufacturer the manufacturer, , the battery and Fuel Cell Versions of Nicholas Badger track. . So at that time when they were talking about three weeks ago. which. . . Feels like a lifetime ago two billion dollars was an eleven percent stake because Nikola at one point, , their values over thirty billion, , which is larger than Ford and now the market cap is less than seven billion. . So that two billion went from an eleven percent stake toe mustard over a twenty percent stake. . So it's interesting if they're negotiating different terms, , what that will look like going forward because two billion is now a much more sizeable chunk of that company than it was a week or two weeks ago. . Yeah I mean just in terms of Nicholas stock three weeks ago on the show we when we were talking about it, , it was fifty dollars a share today it's below twenty even with this little bump up. . That we're seeing and it just. . I want to give the benefit of the doubt Mary Barra the CEO of General Motors and her team. . Because she's a very experienced you know for for whatever you think of GM, , the company and whatever you think of the stock and from a stock perspective, , it has not been a particularly great place to be over the last five to ten years. . That being said, , she's an experienced professional in this business. . So I wanNA give her and her team to benefit of the doubt. . I I look at. . Everything that is unfolding. . And I have the thought that I've had at various points in my life as an investor I look at a either an individual company or just an evolving situation and I just conclude there too many question marks here. . There are just there are too many unknowns there too many question marks I kind of want to wait for the dust to settle to see what the new terms are. . If the deal actually closes and then see where think shakeout. . Yeah I think Nikolas definitely more of a speculative investment since a cart and they haven't actually manufactured car yet but I will say, , I, , am on the side of I really want them to do. . Well, , I hope that a deal works out with GM, , because I think the future of electric powered vehicles is one that we're moving towards I think it's one that I would like to invest in I. . Think Right now betting on them is completely speculative because you have no idea what they can produce but I do think it's important to note that within all of this is shown that there is a. . Demand, , they had an order for over twenty five, , hundred electric garbage trucks from public services they there was an order I over fourteen thousand tracks from Ab Inbev which are planning to use them for long haul deliveries from breweries to distributors. . So I think it's important to note that no matter what happens with this company specifically I think this trend is one that's going to have a lot of tailwind. . So if I was working at GM and I wanted to be a part of that I, don't , think this is a bad option I. . Don't think that this deal is necessarily completely a bad idea for GM.
GM-Nikola Deal in Flux
"Three weeks ago on this show, we talked about Nikola, the electric truckmaker because. On Day, shares of Nikola were more than thirty five percent on the news of its partnership with General Motors. That was a lifetime ago. The deal was supposed to close today. That's not going to happen in terms of closing today and. This seems like a story in Flux Maria because a couple of hours ago I was looking at that. The available information and thinking to myself well, I think I. THINK GM is backing out of this deal. We had the whole thing with Nikola and the founder Chairman of the board resigning immediately. Deleting his social media accounts, allegations coming out and it, and it seemed like. A couple of hours ago. Maybe Chan was just backing off altogether. Now it looks like they might be just negotiating better terms because shares of Nikola were down first thing this morning. then. All of a sudden. They spiked up eleven twelve percent Where do you think this is going? It's really interesting. So Nicola is has ambitious to make electric and hydrogen powered trucks. They want us and lease battering hydrogen-powered semi trucks, tip businesses for anyone who wasn't sure what the company did. So what this deal was supposed to be was GM would get two billion and Meka ls stock paid for with services and various. GM. Parts and components and GM engineer and manufactory manufacturer the manufacturer, the battery and Fuel Cell Versions of Nicholas Badger track. So at that time when they were talking about three weeks ago. which. Feels like a lifetime ago two billion dollars was an eleven percent stake because Nikola at one point, their values over thirty billion, which is larger than Ford and now the market cap is less than seven billion. So that two billion went from an eleven percent stake toe mustard over a twenty percent stake. So it's interesting if they're negotiating different terms, what that will look like going forward because two billion is now a much more sizeable chunk of that company than it was a week or two weeks ago. Yeah I mean just in terms of Nicholas stock three weeks ago on the show we when we were talking about it, it was fifty dollars a share today it's below twenty even with this little bump up. That we're seeing and it just. I want to give the benefit of the doubt Mary Barra the CEO of General Motors and her team. Because she's a very experienced you know for for whatever you think of GM, the company and whatever you think of the stock and from a stock perspective, it has not been a particularly great place to be over the last five to ten years. That being said, she's an experienced professional in this business. So I wanNA give her and her team to benefit of the doubt. I I look at. Everything that is unfolding. And I have the thought that I've had at various points in my life as an investor I look at a either an individual company or just an evolving situation and I just conclude there too many question marks here. There are just there are too many unknowns there too many question marks I kind of want to wait for the dust to settle to see what the new terms are. If the deal actually closes and then see where think shakeout. Yeah I think Nikolas definitely more of a speculative investment since a cart and they haven't actually manufactured car yet but I will say, I, am on the side of I really want them to do. Well, I hope that a deal works out with GM, because I think the future of electric powered vehicles is one that we're moving towards I think it's one that I would like to invest in I. Think Right now betting on them is completely speculative because you have no idea what they can produce but I do think it's important to note that within all of this is shown that there is a. Demand, they had an order for over twenty five, hundred electric garbage trucks from public services they there was an order I over fourteen thousand tracks from Ab Inbev which are planning to use them for long haul deliveries from breweries to distributors. So I think it's important to note that no matter what happens with this company specifically I think this trend is one that's going to have a lot of tailwind. So if I was working at GM and I wanted to be a part of that I, don't think this is a bad option I. Don't think that this deal is necessarily completely a bad idea for GM.
Nikola Falls Amid Growing GM Deal Doubts As New Claims Hit Founder
"This time. It's General Motors, and its deal with Nikola Philibeaux all over that story, he's on the fast line right now with the details what can you tell us bill? Dahm, we have confirmed through sources that the discussions between Nikola and General Motors. They were trying to hammer out a deal by tomorrow that was the deadline that they had set for finalizing the deal when they first announced it on September eighth but obviously given everything that has happened over the last three weeks There were a number of discussions and still our discussion between General Motors. And Nikola. Our sources tell us that they will not finalize an agreement by tomorrow. However, the discussions between the two sides continue we may see a deal announced maybe two three a week from now that's still a possibility. There's also the possibility that things could fall apart but to be clear, they will not finalize a deal by tomorrow. However, the discussions continue between GM and Nikola Dom. Alright syllabus. Thank you very much. Know you'll stay on top of that story as well for our listeners on Sirius? Xm. Who didn't see those charts what we are seeing a spike in the after hours in shares of General Motors one and a half percent on roughly eighty three, thousand shares of volume. Meanwhile, you've got a drop in shares of Nikola Oh no. Now, they've reversed around Nicholas now up five percent after falling about that equal amount just. About five minutes ago about half a million shares of volume there for Nicholas. So a very volatile trade in the after hours session relatively for general, motors and Nikola. So let's talk a little bit more about this and maybe care and I'll go to you for this one here. This is a story that made a lot of waves because of the HINDENBURG research report, the short-selling side of things on nickel and trevor. Milton. It cost him his job. Is. General Motors. Still a stock that you want to invest in if they are making strategic types of investments like in Nikola. I'm long General Motors. So the answer would be yes. I, liked the Nikola deal for them before of the HINDENBURG. came out of but I think that. Negotiated a final deal yet I think GM hold every single card here. So we may see a very different deal a deal that's even better for GM than the one that they originally announced clearly. Nikola. Is You know still even if they do it, it's a bit of a black guy for GM and that due diligence couldn't possibly have been. Have unearthed everything in the HINDENBURG report, but I think it's an interesting Jill for GM. They can get a better deal than they cut originally and so I think. Let's see how it plays out. It'll be. Either really good for them or the walk away with a little bit of an embarrassment but having put no money up at all I think they'll just have to go on and look for the next product that hopefully will reinvest will invigorate e-business.
GM pushes back contract signing with Nikola as it likely renegotiates
"There are still talks taking place between General Motors in the nickel a corporation. They haven't finalized their deal to jointly build electric pickup trucks and hydrogen sell fuel trucks. Reuters says. The target date to get it done is tomorrow. GM won't say if it's trying to re negotiate the deal.
"nikola" Discussed on Rocketship.fm
"So before the break, we learned the difference between hydrogen and electric vehicles and how Nikolas ability develop both hydrogen and electric trucks could be an advantage with hydrogen likely to replace diesel as the standard for the long haul trucking industry. But all of this came crashing down on Monday morning with this report. Let's Nikola shares closing lower by one thousand, nine percent today is founder Trevor Milton steps down as executive chairman amid an investigation into the company. Nikola has fallen out thirty five percent since HINDENBURG research published a report accusing the company of an ocean of lies. So we should point out that Nikola went public with a reverse. Merger with Vector Iq Acquisition Corp on March third. The deal gave Nikola an enterprise value of three point three billion and they raised a five hundred, twenty, five, million from investors. Now about two weeks ago short seller HINDENBURG research swooped in with a new forensic research report that made harsh accusations of fraud against Nikola claiming its promises were intricate fraud. This hindenburg report is what kicked off this whole saga. Now. There's a lot in the report, but the crux of it is on December first two, thousand sixteen Nikola unveiled its prototype. Semi truck the Nikola one in a video of the event CEO Milton can be heard discussing the Niccolo one claiming that it fully functions and works which is really incredible in January, two, thousand eighteen the company released a short promotional video of the Nikola one truck driving along desert. HINDENBURG claims to have investigated the site of the second video and shared text messages from a former Nikolaos employees that it claims prove the video was staged according to the text messages and the site investigation. The Nikolay Truck in the video wasn't fact rolling downhill rather than operating under its own power. These findings shadowed what Hindenburg describes as growing skepticism over the functionality of Nicholas trucks. We have never seen this level of deception at a public company. especially of this size reads the Hindenburg report. It also quotes hydrogen fuel cell. Technology company POWER CELL AB companies that formerly partner with Nikola as saying Nicholas Batteries and hydrogen fuel cell claims are hot air. Here's more from a recent CNBC segment earth all. The research was was great There had been some reports previously about Nikolai and some of the issues with the demonstration but Hindenburg managed to bring a lot of new facts to bear. So I was impressed by that clearly. Trevor Milton is somebody who should. We should look a little bit of scan I because I mean there were even before the resignation this morning I would say he had no credibility and to me the thing that really sticks is. The promotional video that the company films of being of the Niccolo wine. where it referred to it as emotion and it was moving but all they did was push it down the hill and the fact that Nikola fought back so hard with fire and brimstone in his response. But then mid that that allegation was actually correct and they said, well, we never said it was moving under its own propulsion. Says a lot about the company just in terms of the and the credibility of the people running it. Doesn't say anything about the technology Yeah I think you can infer that there could be more issues there than You know we would have otherwise thought but Yeah I mean really just really a bizarre and outrageous hail when you consider the market cap company. and. I'M NOT GONNA. Dispute Individual claims with I. Mean we have not as he has not verified any of the claim claims of fraud or anything like that. We've just been following the public as well because what do you make of the sell side analysts some of them coming to Nicholas Defense here. Well Yeah, and look I will also just punch inclined. Point per second. The company did admit that the video that it was gravity power but there is an interesting question I mean, do these duties statements. Today, amounts of securities fraud I don't know. I think it's I. Think it's a little bit close because companies have these safe harbor statements and so when they give projections or when they make statements the future. They can always fall back and say, well, Gee, you know we were really optimistic and yeah, we were too optimistic but we told you that the futures inherent in certain. So there might not be good securities fraud case here. So all of these things that are you know I think we were sitting around. We would say are clearly. Statements might not be fraud until an official full length investigation is completed by the SEC it's hard to determine if Nikolai is really the next theranos or if Hindenburg acusations are more in the interest of the investing public or its own pocketbook but time will tell and we'll do a an update. Once we know a little bit more. So thank you so much for listening Mike and I'll be back next week with a whole new product. Journey were actually working on season ten of rocketship right now, which is going to be a good one but we got a couple more product journeys to go. So we'll be back here next Thursday. Thanks so much for listening to Rocketship FM ROCKETSHIP FM now as a premium ad free feed, all you have to do is go to glow dot com forward slash rocket ship and subscribe and help support the show and gives you an ad free experience to actually get an exclusive feed that you can listen to on I tunes or wherever you listen to your podcast. Yeah and Rocketship FM IS PRODUCED In partnership with product, which is a community for software product. Until product collective is also the home of industry, the product conference industry virtual workshops, one of the largest slack groups, products, people anywhere, and also on the pod Glamour it network. So a huge thanks to pod glamour, you can listen to all the pod garment shows at the pod glamorous dot com. We'll see you next week on rocketship dot..
Nikola's Talks With Energy Firms Stalled Following Short-Seller Report
"Electric truckmaker Nikola has been dealing with the fallout a short seller report earlier this month it contained allegations that Nikola misled investors about the readiness of its technology. We did a deep dive on the show yesterday. The company has called the short seller report false and misleading, but it appears that the controversy is beginning to shake potential partners report that talks with several major energy firms including BP have stalled the firms are reluctant to move forward amid heightened scrutiny, but a spokesperson said Nikola is continuing to work on potential
U.S. stocks snap 4-session losing streak as tech rebounds
"Stocks rose yesterday. After about a volatility that had tested investors confidence the Dow S and p five hundred and the Nasdaq all broke sessions long losing streaks and shares of major tech companies were among the biggest winners leading the day's rebound.
Founder of GM electric truck partner quits amid allegations
"Truck startup that's partnering with General Motors has resigned amid accusations of making false representation is about the company's technology. Shares in Arizona based Nikola lost over 19% of their value and trading Monday. While GM was off. Nearly 5% of the company said late Sunday that the founder and executive chair Trevor Milton was stepping aside. Investment fund. Hindenburg Research has accused the company of making false representation Sze about it's a vehicle and technology, and Nikola rejects that and has hired an attorney for potential legal action.
Nikola Founder Resigns as Executive Chairman Amid Fraud Allegations
"Stock is shorting out after founder Trevor Milton step down his executive chairman for the company, which has been under fire from a noted Wall Street short seller for allegedly being a fraud. Milton says in the resignation from the board that he doesn't want Nikolay to be distracted by him as he fights what he calls her false allegations leveled by outside detractors. Hindenburg Research accuses Milton of making false claims in the electric vehicle makers technology. Days before the accusations came out. GM sank a big investment in you, Nikola as a manufacturing partner, sending Nicholas shares soaring higher, but it's been downhill since then, and shares the Nikola today were pummeled falling. 19% and GM felt some of that pain with its stock down about 5% on the money
"nikola" Discussed on MarketFoolery
"It's Monday September twenty first walking controller. I'm Chris Sale with me today Mr Bill. Barker good to see my friend. Good to be here. We're going to talk asset management. We're GONNA, talk global banking we have a groundbreaking medical study. We're going to start with the stock of the day shares of Nikola started the day falling nearly thirty percent. It is bounced back up from that last I checked it was only down around fifteen sixteen percent. And this is because Trevor Milton the founder of the electric truckmaker is stepping down as chairman of the board. This is effective immediately, and it comes in the wake of investigations started by both the SEC and the justice. Department on the potential that Nikola has misled investors. For those. You know was at Hindenburg research is that the outfit that came out with a short report about ten days ago? A. Certain. That they believe that this is a where there's smoke there's fire. Situation. But. I don't know this guy. This seems like one of those sudden. Effective immediately departures that doesn't happen if everything is going great at the company. Yeah I would say this is one of the more impactful short reports that I. can recall given the speed with which have been happening both You know when a fairly thorough Report comes out from some of the names that we know in in that space that can be twenty thirty percent on a stock, and that was the case with. but then to. Drive out. Let's for the moment. Give it to the short report for today's News I'm sure that that is not Company is spinning but I'm GonNa go ahead and do it for the moment and say that a speed with which we've seen reaction to a short report that I can't recall and for a company that was in the news on its. Seeming merits for an improved situation having just locked up a deal with the GM selling eleven percent of itself to GM. For some in kind services of this says been a reversal of fortune for Nikola and its shareholders that is if not unique, you know on a shortlist. Yeah, and to your point, just to give a little bit more detail. Hindenburg research came out September tenth with a report entitled Nikola how to Parlay an ocean of lies into a partnership with the largest auto em in America..
Nikola Founder Quits
"Shares of Nikola started the day falling nearly thirty percent. It is bounced back up from that last I checked it was only down around fifteen sixteen percent. And this is because Trevor Milton the founder of the electric truckmaker is stepping down as chairman of the board. This is effective immediately, and it comes in the wake of investigations started by both the SEC and the justice. Department on the potential that Nikola has misled investors. For those. You know was at Hindenburg research is that the outfit that came out with a short report about ten days ago? A. Certain. That they believe that this is a where there's smoke there's fire. Situation. But. I don't know this guy. This seems like one of those sudden. Effective immediately departures that doesn't happen if everything is going great at the company. Yeah I would say this is one of the more impactful short reports that I. can recall given the speed with which have been happening both You know when a fairly thorough Report comes out from some of the names that we know in in that space that can be twenty thirty percent on a stock, and that was the case with. but then to. Drive out. Let's for the moment. Give it to the short report for today's News I'm sure that that is not Company is spinning but I'm GonNa go ahead and do it for the moment and say that a speed with which we've seen reaction to a short report that I can't recall and for a company that was in the news on its. Seeming merits for an improved situation having just locked up a deal with the GM selling eleven percent of itself to GM. For some in kind services of this says been a reversal of fortune for Nikola and its shareholders that is if not unique, you know on a shortlist. Yeah, and to your point, just to give a little bit more detail. Hindenburg research came out September tenth with a report entitled Nikola how to Parlay an ocean of lies into a partnership with the largest auto em in America.
Nikola Founder Resigns as Executive Chairman Amid Fraud Allegations
"Nikola is one of those electric vehicles startups we discussed recently on a weekend bonus episode it's an electric vehicle startup not named. Tesla remember and Nikola is one of those startups that's also focusing more on trucks. Yeah well, the founder of Nikola Trevor Milton has abruptly resigned as executive chairman of Nikola amid what the Wall Street? Journal. Is Calling fraud allegations quote Nikola, which went public in June through a reverse merger has come under scrutiny. Since Short Seller Hindenburg research released a report earlier this month accusing the company and Mr Milton of making exaggerated claims about the readiness of Nicholas Technology, and how much of it is proprietary doubts about the company's readiness to produce vehicles and questions about its claim to own proprietary technology have prompted US securities regulators and the Justice Department to investigate whether Nikola misled investors. The Wall. Street Journal reported earlier this month citing people familiar with the matter Nikola has called the. report false Mr Milton said in a company statement that he had asked the board to step down. So the focus was on the business not him. He added in a separate statement posted on his twitter account. Early Monday that he intended to defend himself against quote, false allegations levelled against me by outside detractors and quote Mr Milton thirty nine years old founded Nikola twenty. Fifteen and owns nearly one quarter of the Phoenix based companies shares according to fact set he served as chief executive until the company went public at which point he became executive chairman and Mark Russell was appointed as CEO investors have seen Mr Russell as a calming influence over the bullion behavior. Mr. Milton who has frequently vented frustrations and shared ideas via twitter and quote. More. Details I learned about Nikola today while researching this segment GM recently said it would take an eleven percent stake in Nikola in exchange for helping to engineer and build an electric pickup truck called the Badger and Nicholas Stock was down twenty one percent in this morning's trading that nonetheless still gives it a thirteen billion dollar market cap. This just popped up on tech crunch quote news is breaking that Trevor Milton Nikola Co founder, and former executive chairman was arrested by the DOJ FBI at Sky Harbor Airport in Phoenix Arizona. This morning this is so far unconfirmed and quote.
Nikola founder quits amid fraud allegations
"Of electric vehicle maker Nicola are sliding after the resignation of its founder and executive chairman. The stock is down more than 17%. Today. Let's see what's going on. Jeff Gilbert is here. CBS Auto reporter based in Detroit. Jeff, What's going on with Nicola? You know Nikola was a darling of Wall Street. Just a few years ago. Nickel, Of course, the first name of inventor Nikola Tesla. So, obviously you got that comparison right to begin with. They want to make an electric pick up front. Wall Street thought it was great. GM thought it was great, so they made a $2 billion investment in that company. And now all of a sudden, there are allegations against the chairman. He leaves and he was replaced by somebody with very close ties to General motors and explain that connection because GM obviously has a lot riding on this exactly. Two weeks ago, GM announced that it's taken an 11% stake in the company work. $2 billion. They didn't pay a billion dollars to billion dollars, but they're going to let Nikola produced their vehicle in in a GM facility. Well, one of the board members of Nicholas, a man named Steve Girsky, who had been a General Motors vice here, There are many reports that he's a man who actually orchestrated the deal and now as Nicholas CEO and founder, or whether chairman and founder leaves Girsky becomes the new chairman of Nicholas. So it's a very interesting tie up that connects him a lot more closely to General Motors. And the hope. Of course, on the part of investors is that the technology is what Nicholas says. It's going to be, and also that they're going to be able to actually produce this stuff. Exactly, And that was a concern raised by an investor who said that he didn't feel they really had the technology behind some of their claims. GM defended them, They said. They did their due diligence, and GM is giving them a place to produce his vehicle. They haven't said yet, so GM does and some gravitas for lack of a better word. To Nikola, but still got a lot of investors concerned. I haven't seen the latest numbers, but the stock has really been falling today. Yeah, it's down about 17.5%. So a significant fall for sure. Thank you so much. That is Jeff Gilbert, CBS Auto reporter based in Detroit.
Founder of GM electric truck partner quits amid allegations
"Nikola faces uncertain future after its founder and chair stepped down amid fraud allegations. Trevor Milton is accused of making false statements to investors about the electric truck startup. It's a charge, he says is false. The company is getting support from partner GM, which says it won't abandon nickel up with
Nikola Founder Resigns as Executive Chairman Amid Fraud Allegations
"Runnin son on Wall Street, Another rough day of September continues to be the cruelest month for stocks. The Dow falling more than 600 points in the first few minutes of trade, trying to recover off those lows S and P and NASDAQ, also flirting with with about about 2% 2% declines. declines. This This comes comes as as Europe Europe is is down down 3% 3% on on worries worries about about an an increasing increasing spread spread of of the the Corona Corona virus. virus. Ah, Ah, possible possible UK UK lock lock down down and and a a real real pickup pickup in in infections. infections. In Spain. Add to that what appears to be now some difficulty in the world of SPAC special purpose acquisition companies like Nikola, whose CEO or executive chairman just resigned today amid allegations of fraud concerns about the state of politics in the U. S no relief for stimulus from the federal government, the Supreme Court vacancy that could create a large political fight and we have a risk ofthe day across the board. With stocks down oil down gold down interest rates falling as well Flight to quality into U. S. Treasuries Driving the yield on the 10 Year down 2.65% in a week when Federal Reserve Chair J. Powell be testifying before Congress later on so very rough start to the week continued declines after from the last three weeks. Very Rocky Day on Wall Street. I'm Ron Insana for New York
Wall Street posts third week of declines as tech slide drags on
"Things aren't looking brighter for US equities following wall. Street's third straight weekly decline with Dow futures down two point one percent and contracts tied to the p five, hundred and Nasdaq off one point nine percent.
First Berlin Production Equipment, New Largest Supercharger Location, Daimler Emissions
"Our here, and today we have a super charger network update, which is nice. Little throwback for those of you that have listened to the podcast for a long time I used to do those every day at the start of the podcast. We also have some news on Berlin paint a small little updates slash rumor. I would call it on Battery Day and the news on Daimler Nikola Motor as. Well. Tesla stock with another really strong day to day even though it was relatively quiet news wise finishing up seven point two percent to four hundred and forty nine dollars seventy six sense that compared to the Nasdaq up one point two percent we'll start off with these super charger news. This is coming from Brian Mac se on twitter, who is a long-time listener and I believe Patriot supporter of. The podcast who happen to come across a super charger network location under construction near Firebaugh California. As far as I can tell, this location had not yet been noticed. So upon Brian tweeting these out Tesla Motors Club Forum members did some digging on this and they were actually able to find that the permit for the site as well as planning documents for sort of a conglomerate travel center at. This location those documents disclosed that Tessa. We'll have fifty six spots for Tesla charging at this travel center. Assuming each of those spaces has a super charger associated with it. fifty-six chargers would put this as the largest superchargers location in North America and possibly in the world surpassing cattleman city in the United States at forty chargers and believe in China, there are a couple locations that have fifty chargers. So. Pretty exciting this location is between San Francisco and La driven miles. It's about two hundred and thirty miles from La and about one hundred and fifty from San Francisco. It's not clear if these will be all version three superchargers but I'd have to imagine that they would be and as far as other features go. It looks like about two thirds of them thirty eight of the fifty six. will be pull through hopefully accommodating the use of a trailer and making things a bit easier for the cyber truck and potentially also accommodating the semi of course, cincy unveil of the semi. We haven't heard much more about Tesla's mega charger plans. So hopefully, we get a bit of an update on that during battery debt. Right next today is an update on Gigabytes Lynn gigafactory underscore four on twitter. Has Been following. The gigafactory development closely looks like some equipment has started to arrive, and some of that equipment carries branding for Geico Tikey Shah? which is a paintshop solutions provider based in Milan Italy. There's also some signing there that is co branded between that company and desolate GEICO take show describes their approach by saying quote innovation is our weapon of choice were constantly increasing the technological possibilities in. Order to meet the needs of the most demanding customers in a highly competitive sector and quote they also seem to be heavily focused on sustainability and they're their paintshop operations. They have a project called the party's project, and they say quote with the Party's project launched in two thousand, five Geico Kotecki show was the world's first company to offer zero environmental impact paintshop reducing consumption by seventy percent and. So. Without really knowing much more about the company does he pretty good fit for Tesla we know Tesla has pretty big aspirations with the shop and gigabyte Lin Yuan talked about it many times and even setting Matt aside, it's good to start to see some production equipment on the grounds of Giga Berlian and though I haven't seen it yet. Maybe this gives us another milestone to compare the progress with Giga Shanghai from what I can. Tell, it looks like paintshop equipment started being put in place at Giga. Shanghai. In early to mid August of two thousand, nineteen with production of course, then starting about four months later. So if that's the case, if Berlin falls a similar time line that could potentially project out to start production and January probably best to keep expectations for later than that but I do think it's helpful to keep an eye on how those timelines compare all Right next up today is something that could end up being completely nothing but I thought it was at least interesting enough to share earlier today Fred Lammert over at electric tweeted out a couple of images of him holding a pretty significantly sized battery cell and Fred Ask if anyone has seen this battery cell before or you have some information about them, please reach out to him. A says also by the way, this new cell May. Or may not have been made by Tesla I don't really have much speculation to add this. A couple of people on twitter were saying that it does look like a tablets design which we've talked about and past episodes. But really just pointing out to say could be something to keep an eye out for the next couple of days if electric is able to you dig up a little bit more information on whatever this ends up being. Last couple of pieces of news here. Today I on Daimler Daimler has reached a settlement with the US government to pay one and a half billion dollars and settlements and penalties to the US and California State to resolve allegations of Daimler using emissions test cheating software to conceal the actual emissions from vehicles even with the settlement, and despite the fact that engineers at the EPA found software designed to cheat the emissions tests. Damore denies wrongdoing saying quote as stated in the consent degrees the. Class Action Settlement the company denies the authorities allegations as well as the class action plaintiffs claims and does not admit any liability to the United States. California plaintiffs or otherwise and quote. So I don't know kind of disappointing to see a settlement of that nature that doesn't require the admission of fault with such seemingly strong evidence against Daimler right lasting today is a quick update on Nikola Motors. It sounds like from the comments yesterday that most of you preferred that I don't do significantly. Deep dive on this budget stick to the high level updates, which I'm totally fine with if Trevor Milton wanted to come back on the PODCAST, I would probably do that. Otherwise, we'll stick with these updates anyway today the Wall Street Journal and other outlets are reporting that the Justice Department has started to also investigate Nikola Motors due to the allegations that they had misled investors by making exaggerated claims about their technology I know that sounds similar to
"nikola" Discussed on The World at Large
"They they brought him there just to sign paper that they brought and I don't see anything surprising they're dead. I think the opinion leader is one owner of that either and as I said that negotiation and that deal that they made it has very little to do with wage should be incarcerated has much more to do with United States in Israel and their energy political agendas both in the Middle East and in the Broncos. Also in the deal house was the point of entire meeting Serbia and Kosovo. Boom announced host. Yeah conservative Coatesville announced their intentions to boost economic ties and cooperation. So do you believe that full normalization is a possibility. Eventually, yes, although the economy of Serbian economy. Of course, they're extremely weak and dependent on laws and the depending on the west side of the economy the economies of both nations are basically homes and off depending on the by the Western on was so we see that the United States is pressuring both Belgrade and Pristina to home build a highway to connect cost of south of Serbia. Neither Serbian in our customer needs that highway but it's quite obvious that someone else needs. So I think it's United States and Western Powers So eventually yeah there there may be a progress one comes to the economy. But again, it will be dead. powers of little benefit rather than local populations All right. So one of the last questions we have for you today is what is your favorite part about living in Serbia? It's extremely hard to say because I know there's there's so many bad things here. But on the other hand, I was was born here and raised here. So it's it's kind of my Judy to leave here. It's it's not easy to explain but I eventually there until you out of my life and hope that my children will leave here. No matter how that is. Hopefully it will be better someday, although I don't think so, but maybe we will manage to improve something. All right. Well, that is all we have for you today. So again everyone we are sitting down with with journalists and Nikola Pekovic, and he again is a freelance journalist. He operates in Belgrade Serbia, and as you can see is just very awesome person. So if you're interested definitely look them he has a lot of who work online and yeah, very very smart intelligent person. So with that we're going to be wrapping up mister makovich is really nice to meet you and we hope you have a great rest of your day. Okay, so, thank you. Bye..
"nikola" Discussed on The World at Large
"Thank you for tuning into the World At Large brought to you by politics 1001 before we begin just a quick reminder to give us a follow share this with a friend and leave review. Please enjoy this episode of The World At Large. Hello everybody today. We're sitting down with Nikola markovic a freelance journalist from Belgrade Serbia. Nicolas has worked on many projects throughout his career and like we said he's freelance and he's self-employed Nicola. How are you doing today? I'm doing fine. How are you? We're doing awesome. Yes, we are. All right. So recently Belarus held an election in which according to government polls 80% of the vote went towards the incumbent President Alexander. Lukashenko. Do you believe that these polls are accurate and are the protests going on around Belarus. They quote vocal minority. All right, let's spell never find out if the election was rigged or not. I believe lukashenko rig the election, but there is no evidence because he from a controls the central Election Commission in any case he is supported by us two different percentage of the population. Although there are many people who are not satisfied with his policy in there protesting now, so the protests go on although I think he managed to cost validate his power after the first wave of protests that took place right after the election on August 9th. So there were reportedly clashes and men's can in order other recent cities. Now the situation is wage, Louis so tensed there's no violence, but please make they keep arresting protestors during the week and on Sunday off. The opposition holes large relatives in Minsk and other major cities, but there's no results. They they did not manage to overthrow the government off on code he refuses to negotiate with them or to fulfil any of their demands. So as I said, there's no results on the protests can go on the page. It's a big question what will happen in the end because he's Now supported by Russia and the opposition does not have much choice at this point except keep protesting, but nobody can see the point anymore. So you said that lukashenko was supported by a large part of the population from what type of people would tend to support president lukashenko. It's certainly not not that many. I mean certainly less than in the past but he is still supported by elderly people and the rural population and also young people who work for both state-owned companies and there are also people who generally believe that he's a good leader on the other hand. There are many young people in Belarus believe that he should go because if some of us twenty-five or so then all he or she knows has a wife under Alexander lukashenko so they won't changes them. Although I think they're they're not aware that it changes can can be can bring something that's much worse than what they already have. So it's a bit of a gambling and yes, I believe he is supported by I cannot say for sure. What's the percentage of population? But he definitely has his own supporters. There are Analysts and journalists, especially on the west who claimed that he is 40 by like 3% of the people which is ridiculous that does not make sense at least thirty percent of the population. Strongly Pro lukashenko. That's that's my opinion and there are people may be approximately the same percentage who are strongly anti location and the others are just waiting to see designs and then they also played joined the winner. And that's the situation that we already had in Ukraine prior to the conflict in the dumbass people. They're they're they were just waiting to see which option will prevail and now people who live and the part of the Damas that's controlled by Russia forces. They said they feel that they belong to the so-called the Russian World and those who remains on on the other side that are still controlled by Kiev they're dead. Pro Ukrainian so it's not that easy to explain but people that are they just wait to see what kind of happened in the end they will simply trying to win maybe it's not popular but that's the latest in that region Southeast Europe or actually Eastern Europe. Sorry, do you believe Luke sent lukashenko Will Survive the selection or will he be forced to keep? Well, you already survived his running the first round of clashes but the protesters and it's been a month already. So he survived he managed to constantly excused or no. It's a big question if he will survive if he will manage to stay in power for five years that's funny as in term inspires wage. Um, I think he Russia will make him change constitutions so he will have to completely to change Constitution to khong As far as Belarus and political systems, so maybe it will be forced to step down but not by the protestors but by the Kremlin and in that case, I must will make sure that they find jobs to replace bookish angle. Keep implementing pretty much the same policy, but I don't think he will be overthrown by the mob or something. I don't think that will happen. So many you said that under lukashenko Belarus has moved farther away economically and diplomatically from Russia. But as you said Russia supports a lukashenko being in power, but many of them that Miller has become, you know less independent on the Russian Federation overtime. So do you believe this to be true? Well that was suffering election lost much of its independence. Now. It's it's heavily dependent on Russia because Russia now for most of course lukashenko, but they're interesting as for lunches. We know suit you will have to make some concessions to the, you already made some and he hired Russian PR experts now, they're running campaign on social networks for location, and he's supposed to meet with Vladimir Putin Russian president very soon. And he will probably sign some agree with us. I believe they will be related to the energy issues and I'm pretty sure he will have to agree on Russian terms when it comes to the energy price for a therapist. So in the past Russia provided relatively cheap oil and gas to develop trust and I don't think that could be the case unless lukashenko signs.
"nikola" Discussed on The Energy Gang
"I think that for Nikola. It's really a you know there's there's a lot of showstoppers. Remy now has to actually continue to build out all of the the hydrogen stations. They just gave them a thirty four million dollar contract to start. The first couple now is from you know, spin out of Statoil. And they're publicly traded. Norway and you know I have no idea how they have a one point. Two billion cap it. I guess nobody's. You know. Living with the laws of gravity and the stock market anymore and. You know they're. They have a lot of unknowns in how they roll things out right and so as you stated before I mean you know some of these folks again. Heiser Bush and others are not to roll out these trucks unless they know they can safely refuel from. You know one location to the drop off point and back. Well color me doubtful about Nikola because of what this company has been talking up without really releasing anything now. This follows the Tesla model. You Know Elon Musk talks up products all the time without having them available, but at least the company has products to show for itself. Along was was producing cars for a year and a half before the company went public, so it's a bit of a different story all the same, both of these CEO's trevor in Elon Musk are both p.t barnum like figures. They believe in talking up their products before actually producing them, and the you know, the hype cycle will carry them forward, so we know Elon Musk. We know his pattern of behavior. We know how he likes to develop and tease products. What about this Guy Trevor Milton Catherine? You've been doing a little bit of digging on him. What's he all about? Yeah, I did something I kind of never expected to do which was to listen to the truck show podcast. Nadeau got me wrong. I used to drive a Toyota four by four so and I learned to drive actually on a pickup truck, but I had never listened to this podcast. It was really interesting. They interviewed Milton for a longtime. He comes across very much as a regular bro. Kinda Guy He grew up. His Dad was an engineer on a train, and he rode the rails all the time. between Utah and Nevada and he said at six years old, an engineer said to him, took him, and showed him how the electric system worked on a locomotive, and they were riding along a highway, and he said some day. We will have the same kind of electric locomotives on the highway, and that was at six years old and ever since then Milton says he's been thinking about that. And dreaming about that and wanting to put what is essentially a train. Jen onto the highway and so. It sounds from his backstory that this is very internalized that somebody who's been thinking about for a long time. He took his hydrogen storage sale. one of his. That funding and started to build this new company which you know, he his attitude is. We're an energy company. We're trying to displace oil companies. We're not trying to be go head to head on trucking and that entire infrastructure we are completely different. We're an energy company we are. We have to own the entire ecosystem whether it's the truck and fuel the service warranty. Warranty, maintenance everything is going to be part of our service, and another interesting thing is is he's only going for like ten percent of the market, which is thirty between thirty and fifty thousand trucks, which would be given you a trillion dollar companies still, but he's not trying to take over the whole market. He's trying to take up a certain segment of the market. The death knell for any company. We're not a trucking company. We're an energy company I feel like all the companies that have struggled have talked about how they're like. They're a broader energy company. We're not a SODA Company. We're an energy soda company. We're lifestyle come. Style so the one thing I would quibble with on that which. Which I think trevor probably believes when he says although I'm not sure I think is the real difference between tasks. Lan, and Nikola, in my opinion on their approaches is that Ilan fancies himself guy who can basically become a PhD in anything he puts his mind to in reads about I. Don't think Trevor Fancies himself. The same and when you look at Nikolas, stock ownership. What he's done is basically outsourced all the engineering to others right so the way that he capitalized his company was he got Bosch. Bosch to do all the engineering, one hundred and fifty million dollars worth of engineering and then wash, then realized that he didn't really have the money to pay, and they converted that into stock and Nikola now they've made three billion dollars on that stock so I think they did pretty well for themselves, and he's done it again with Hawa right so Honda now owns a lot of stock and Nikola, and doing all the engineering you know for Free for these units, and so these units are going. To be the truck industries competitive vision to the Tesla Sammy right and so I feel like everyone thinks that Nikolai is actually the brains behind this, but the brains behind this is actually going to be whoever funds Nikola right, so it's either going to be Volvo or Hawa or Josh or some of these other auto and truck makers, and then separately I think the energy system is absolutely gonNA come from the oil industry, and so he's going to outsource the whole thing to shell or. or BP or whoever else? Because all of those guys would rather US moved to a hydrogen economy, then moved to an electric Konami because they get the fact that even though they're buying into the electric grid, they get the fact that they're not going to really own the molecules like they do in the gasoline and diesel space, and so for years Shell and BP and others have been pushing hydrogen as the solution and so I think you'll see that in this fight between Tesla, Nikola. That the the traditional truck manufacturers are going to hedge investing in Nikola and the traditional fuel producers are gonNA. Hedge investing in.
"nikola" Discussed on The Energy Gang
"Ten years. The cars don't belong to lift. So how are they going to make that happen? It's all electric this. This week. Katherine Hamilton Jaeger Shah. Are My co-pilot here steering this episode with me Catherine's in Washington C.? She is the CO founder of thirty nor solutions. Hi Catherine. You're not in Washington. Why am I still saying you're in Washington DC IN VIRGINIA? You haven't been in Washington and months now I. Haven't I I? Don't go to Washington anymore. I only go places that my two feet can take me. Jigger Shaw is president and Co founder of generate capital. He is in Bethesda Maryland. I presume you haven't been in Washington lately either, but has right there bordering Washington, yeah I never went there anyway, but I do miss my Panera bread where I used to have all my meetings I haven't been there in ages, but. But I never really went to DC anyway. It's a SCHLEP for us to. A reminder to our listeners. We're going to be off for two weeks coming up. WE'RE GONNA TAKE A. Little breather here before the summer or the summer ramps up, so I will be back in mid-july. Episode for the next two weeks. As? We record this Tesla is the number one auto company in the world by market cap that's incredible and electric vehicle maker is number one by the value of its shares. But now another company Nikola Motor has edged into that top ten nickel is developing a hydrogen fuel cell, heavy duty, truck, and a network of hydrogen fueling stations, or it claims to be and a lot of things. Shade has been thrown on this company when it's reverse IPO. Put its market cap alongside Ford. Motor Company's without a single product on the market. There was predictable derision. But it did make Elon Musk start talking about his heavy duty truck model again, and that got a lot of other people comparing fuel-cell models to battery electric models in the trucking space, but what does a Nikola versus Tesla matchup, really look like in heavy duty trucking. If you're looking for a deep dive on the mysteries and the hype of Nikola Motor, you can listen to a recent interchange episode that Shell Alcon and I recorded a couple of weeks ago. We go deep into how the reverse IPO worked, and what the companies claims are and You can just search back a couple of weeks in the interchange fee. But let's talk about. Nikola versus Tesla more explicitly jigger. What are the stakes of this matchup? How badly does the world need cleaner heavy duty trucking well? I think it's important to start. Around health right when you think about when the Cova crisis hit, we all talked about how we had cleaner air and Delhi in La, in other places what they found after doing a lot of research is that in fact, passenger cars have very little to do with dirty air in many of these cities where you have good auto emissions, regulations that in fact, the dirtiest air is really coming from these heavy trucks, right class vehicles and other vehicles, some of which are poorly maintained others of which just need the raw horsepower to be able to move goods and. And services around, and since everyone's been buying just as much stuff as before except it's all getting delivered now, emissions in La haven't fallen as fast as they could have. Because of all the heavy truck traffic, so you're starting to see a lot of interest from the California air resources. Board and others, and frankly from companies that want to do the right thing to say. We've got to figure out how to tackle medal climate emissions, but also our pollution emissions thing come from our heavy trucks and so I think that there was a lot of interest when the. The tests a semi launched, but now there's renewed interest with Nikolas announcement and partnership within Heiser. Bush around. You know, what should we be doing? And what timeline should we be doing it on Catherine? What's going on here? In the trucking world? Why is pollution from trucking increasing? And what's the? What's the need here to address it? Yes, so while twenty three percent of our greenhouse gases are from transportation of full six percent of the total greenhouse gas emissions in the US is from trucking. So this is really important. Sector I think there is a great opportunity to really change. Change it for the safety of certainly everybody, but also the drivers and to try to make sure that we can change the ecosystem such that the drivers are able to get where they need to go more efficiently and in a cleaner way. Are we just buying more stuff that what's happening here? Jigger? What's this? It's not just by more stuff. We've also even though we actually worked pretty hard under the Obama administration to D-. Bottleneck the rail infrastructure. We really haven't put in place all the intermodal infrastructure that we need to be able to keep goods on. Ships and then rail all the way to the end, and so, what's happened is we've continued to use the highway system as the escape valve for all the extra goods and services that we're purchasing right, and so we could, of course just upgrade all of our trains I mean. In fact, coal shipments on trains are way down because we shut down coal plants, but they haven't replaced. Replaced all of that. All that traffic with package is because they don't actually have all the right infrastructure to do it. We'll give him the number of microphones that I've shipped people over the last three months I. Think I've increased carbon emissions from the trucking sector by a percentage point to I think it's worse than that because you actually ship it next day, and so that's that's by..
"nikola" Discussed on Snacks Daily
"This is nick. This is Jack and this is snacks daily. It is Friday June thin. What's going on with all the IPO's this week's knackers? More IPO is. We're going to have to borrow a vowel. So many letters were working through appeal yesterday. Who IPO's Today on Saturday IPO. What's going on our buddy? Timmy's like putting together a syndicate over the weekend. Now. The teaboy ticker symbol better still be. Has To be available smackers. We gotTA keep available in the meantime. Jack I whipped up our best snacks daily effort I. Story of today's Teaboy is zoom. Info. Did you say Zoom Jack Yes? But no I said Zoom Info, so not zoom. We're talking zoom. Info sounds like a suffix, not zoom zoom is a client of zoom in foul and Zoom Info helps you get intelligence on a company before you make a sales. Sales Pitch Stack were looking at the biggest tech IPO, twenty twenty just happened second-story Nikola. It's the first name of Mr Nikola. Tesla Godfather. Electricity has inspired to eccentric entrepreneurs. Nice legacies, knackers. You heard it from US Nikola is the latest cult stock after going public yesterday. The CEO LOVES COMPARING HIMSELF TO TESLA AND AMAZON. You might as well throw Jesus in there to you. Why Not GonNa Stop? You third and final story? Story Jack American Airlines can't make it plain. Depart on time, but it can apparently move the stock market. We noticed the information that American Airlines shared on the travel. Industry has shown the power forward looking data I, I said one hundred times butts in seats are investors treats butts in seats, investors truths knackers before we jump into all that wonderful staff. We gotTA talk about another big number here five hundred as in the. The fortune five hundred five hundred companies in the fortune, five hundred fortune five hundred is the five hundred companies with the most revenue annually Walmart is number one in has been for many years. That's a big number, but there is a smaller number and that number is four four is the number of companies in the fortune five hundred that have a black CEO four out of five hundred, not a fraction. That sounds good. Snack facts and in from Quinn in lovely Batesville Arkansas, thank you for sharing. quit the only four fortune five hundred companies with BLASIO's. Our lows Merck TA and tapestry, and since there's only four, we figured we'd do a quick biography of those four CEOS who are incredibly outperforming people shocking I jumped in snack style went through wikipedia aggressive here. Jaide Xilin is the CEO of tapestry that company had Kate Spade John was born to a single mother in Nigeria before being adopted at the age of five by an American family got ended up with a bunch of degrees from amherst all the way up to. And is now running all the pocket books over a Kate Spade. All right number two is Ken Frazier. The head guy at Merck grew up in Philadelphia big question, Gino's or PAT's. He can answer that later and Ken. Bust Ninety minutes a day as a kid to get to school where he was one of just nine black children in in the school. Oh, by the way while they're ended up graduating high school at Fifteen, I was graduating guitar hero when I was fifteen jack I was like putting a Mentos and Coca Cola's before Lacrosse. Lacrosse practice that some adversity third on our list is Roger. Ferguson, the CEO at Ti, he went to Harvard, but wasn't just studying at Harvard. No, he cleaned bathrooms to pay for tuition and end up getting an economics degree, and then you got Marvin Ellison over at Lowe's homegoods grew up in a poor family with six siblings in segregated Tennessee knackers. Cheers to all four of these legendary role models who are making up that four out of five hundred fraction. They're trailblazers. They defied incredible odds and they are leaders. What's hit our three noise? Daily. Way. Snack. Foods Candy. They don't reflect the views. Her family is stolen formation just so. Recommending any security snow, it's not a research report or investment advice, Natta, offer or sale of security by. Just business news video. Financial LLC member finres. IPC. For our first story Nikola, just kind IPO and this company has all the ingredients for a cult stock. Little flower little used little water. It's all you need is a beautiful but little unbridled enthusiasm. Exactly the key secret ingredient now snappers Tesla. Code in two thousand ten people thought the idea was kind of crazy Nikola IPO yesterday. We think the idea is kinda crazy, and that's because the CEO. Talking about Tesla, he pulls a mind. Trick here because Nikola. Tesla is the Serbian American inventor of like electricity. So you got the CEO of Nikola obsessed with talking about Tesla. It's like Whoa Nick is burberry fifty bucks nuts, actually a slurry a slur when you're walking around, so it's probably slur. Nikola just snuck its way onto public stock markets by merging with a shell company pull the old Switcheroo, basically those an existing publicly traded company, and then they be back their way into it through a merger lake, sneaking into a club like through the door because your buddy works at the bar and you let the little thing held the door. Door Open. No alarm sounded. We're done talking about that weird merger. Thing is going to talk about the company Nicholas. KNACKERS Nikola was a startup founded in two thousand fifteen in lovely Phoenix Arizona I'm telling you there is more innovation happening in Phoenix Arizona than like anywhere else in the country Jack. Preach, golf, you got dry heat and he got autonomous vehicle laboratories, and you got Scott from God style guy now. Eventually this company plans to make its electric and hydrogen powered tractor trailer trucks. Actually thing right now. They just have prototypes, and we have to admit they look awesome. Honestly, it's like they gave the team over at hot, wheels. Cars a lot of red bull, and said go crazy. Eventually these things are going to be hall and red bull across the country with tractor trailers, and if you check out their website, they're also planning to develop Jetskis, Dune buggies and up trucks I one of those tech companies that feels subtly influenced by Winnebago for some reason, it makes no sense, yeah, now besides the design, they're going to differentiate themselves with their electric engines, and eventually they're hydrogen fuel cell, hydrogen fuel cells, being the kind of engine that is greenhouse gas emissions just. No fossil fuels allowed at Nikola. Funny thing about Nikola Jack, and I noticed Nikola doesn't build trucks until the customers have already signed up for the trucks. You show me the money. I'll show you the Pradesh. Rigamonti. Has Bush for example. They make a lot of budweiser. They've signed up for eight hundred Nicholas. Ton of Bud light they figure they might as well sign a deal to get like the first fleet of Nikolas eventual, but here's the thing about that. Nikola Client Budweiser has ordered forty Tesla Semis the competitor Nikola that's right I always forget. The Tesla's got tractor trailer coming that they announced like two years ago, but hasn't seen the road, and that means that Budweiser is one day going to be eventually say they've got US fleet of Nikola. Nikola Tesla's. That's true now before we get too excited about Budweiser's Nikola Tesla's. Let's remember. Neither Nicholas nor Tesla have put one of these tractor trailer trucks on the road yet. We're going to highlight that as a red flag, no product yet so Jack. What's the takeaway for our buddies? Over at Nikola Nikola is latest cult stocks knackers. Let's go through the checklist. Charismatic Leader Check Revolutionary Product Shack, how about the tons of attention on Reddish? SNACKER NIKOLA IS PRE Revenue Aka no revenue yet and they've got no trucks on the road. They haven't made a buck, but don't worry. They plan to have their first electric powered semi on the market by twenty, twenty, one likely before Tesla semi, and then their first hydrogen powered semi-truck two years later by twenty twenty, three Oh by the way another kind of thing, we should flag care. Hydrogen trucks require hydrogen fueling stations that don't exist yet, you. You can't pull over at one of those travelcenters at Exit Sixteen and fill up your hydrogen engine, and he had Jack and I've noticed that Nicholas. Stock has tripled in the last two months in anticipation of that whole reverse merger thing that just went down yesterday called stocks lots of hype, but not necessarily something that Nikola Tesla whatever by four our second story yesterday we told you about the biggest of the Year Warner. Music Aka the Bruno Mars. Were telling you about the biggest tech IPO of the year, Zoom Info, which just Jim Seventy percent on its.
"nikola" Discussed on Tesla Daily: Tesla News & Analysis
"About being You can package it. However you want. You can order it as a fuel cell and battery, or just as a battery, and then add fuel cell later, so a lot of customers that don't have the hydrogen in their city at don't order. It is a battery electric and two three years down the road. They can put the fuel cell in it. If they want to. It's fully upgradeable. And that was an interesting one because it was really catered to the the work. Mark the Ford F one fifty market big market where people are buying trucks for business, not necessarily like the consumer market where. kind of like the Ravens. The Ravens are very consumer oriented market like a lot of lifestyle studio borders. You know outdoor guides. All that like Nikola was all about the consumer commercial vehicle market so F, one fifty off-road pulling trailers hill down Dow. It'll be done with a with a partner another oem that'll be announced. Sometime here shortly. Don't know the day yet, but it work. We're pretty far into lighted to. Essentially knowing that went down. And that OEM actually build it service at warranty and sell for us. And that's what's so. We won't do any of that. We won't have to do any of that. The next product lines are are a little bit down the chain or more offer like they're kind of more of a consumer product. That's more for me is what I call the way to communicate with our shareholders. So a lot of investors, no never touch us in my truck never will never go for a ride in his semi truck. They'll never wanNA drive a semi truck. So the way that we communicate with our investors through the through the other products that we have nets the off road, E. T. net zero tol- is what it stands for, and that is the off road jeep all zero. It's all a battery electric over one hundred kilowatt hours two to three hundred miles on a charge and is made you know Scott twelve you know seventeen to twenty inches of travel, so it's just this total offroad beast made to go sixty miles an hour around the desert or one hundred miles an hour. Whatever if you want to die? And, then and then the last one would be as the is the watercraft Nikola wave and that's an electric wave runner and. The I love the lake might my instagram name is linked Paul Trevor, and so I made hardcore I..
"nikola" Discussed on Bedtime History: Inspirational Stories for Kids
"So Nicola Tesla's next job was in Paris working for one of Thomas Edison's power companies. Thomas Edison was a famous inventor known for designing the LIGHTBULB among other inventions from their tesla moved to America and got a job working directly with Thomas Edison. He was very poor at the time and arrived arrived in America with only a few cents pocket and a few poems he'd written unfortunately his work with Thomas. Edison didn't last long instead. Tesla took his ideas to Edison's competitor. George Westinghouse who bought his idea for the alternating current Dinamo direct current is what Thomas Edison used. I worked by sending an electrical current one way but Tesla's idea was to switch directions. The current was sent to this day. Tesla's alternating current is is used more than direct current. Next Tesla's started his own lab experimented with ideas that help pave the way for the X.. Ray He also created the Tesla coil which was later used for sending radio waves through the air for radios and television. It was around this time that the world's Columbian Exposition was to be held in Chicago in eighteen. Ninety three this was an enormous world's fair where people from all over the world would visit Chicago to see it exciting conventions and experience new things. It's also started a competition between Thomas Edison and the Tesla over whether AC alternating alternating current or DC direct current would be used to power the huge world's fair in the end Tesla's alternating current won the match and was used used to power the world's Columbian Exposition. Tesla went on to create the first hydroelectric power generator and Niagara Falls. New York hydroelectric. As when water power is used to create electric Texans. Next big project was a huge electrical. Go Tower in Long Island New York which he planned to use to send radio waves all around the world. It was called Gordon Cliff Tower at this time. A different tower was being built by googling. Omo Marconi to do a similar thing Tesla got started on his tower. The Marconi beat him by sending a signal across the Atlantic Koshin. First this caused the people paying for Tesla's tower to change their minds causing the project to fail. Nicola continued to come up with new ideas but most of Zion state in his notebooks and he didn't get a chance to actually build them for anyone who listened to the last bedtime history episode about Mark Twain. You'll be interested to know that. Mark Twain and Tesla were friends while growing up Tesla. Read many Mark Twain's novels so he was excited. Did the finally meet him after. Moving to America Twain was interested in Tesla's inventions and often visited his lab and participated in experiments. He also gave him money to help with his new inventions later intestines life. He won awards for his past inventions in nineteen thirty seven when he passed away. Many around the world mourned his death. Someone was quoted in saying that he was one of the outstanding you can elect of the world who pave the way for many of the technological developments of Modern Times Nicola face many difficulties in his life and even failure but he continued to learn and apply his mind to designing new things and improving the world around him like Tesla. You can be curious about about the world around you in school. He saw the power of electricity and wanted to learn how it worked. He found new ways to use it to improve the lives of people all over the world learning learning how to invent an improved things is a combination of learning how the forces in the world work called physics and what things are made of called chemistry and then using creativity to apply this knowledge to the world. This is why it's a good idea to pay attention in school and take the time outside of school to dig deeper and really understand how the world works..
"nikola" Discussed on Bedtime History: Inspirational Stories for Kids
"Eighteen sixty five. Nicola Tesla was born to Serbian parents. In what is now known as Croatia. His father was an Orthodox Fox priest and his mother never went to school but was a very intelligent woman. She was known for inventing her own electrical gadgets to be used around the house. Nicola Nicola later said his great intelligence came from his gifted mother growing up. Nicola went to school like most kids and studied German math and religion. They moved to a new town where his father was a priest and there he attended elementary and middle school during high school. Nicola had a physics teacher who showed his class. The power of of electric city in the corner saw he was amazed and wanted to learn more about this wonderful force. He was here. The Nicola did so well in his math classes that it is teachers. Thought he was cheating because he could do difficult math in his head without using paper not long. After graduating from high school Nicole became very sick and spent nine months in bed but finally got better. His father wanted him to become a priest like he was but Nicola was more interested in engineering. During engineering is the science of designing and building things. Nicola went to the university in Australia for a time. And it very well there. It was there that he first learned about Dynamo which is used to generate electricity when he started to have ideas about how you could make it work better. Nicola worked very the hard wall in school. It was said he worked from three am to eleven pm and didn't take breaks on the weekend. His friends and family worried if he I didn't slow down he would become sick from overworking himself. After University Nicola moved to the country of Hungary and started working for a telegraph company. Any Telegraph was used to communicate by sending signals along. A wire for the telephone was invented while they're Nicola helped them improve the Telegraph equipment equipment..
"nikola" Discussed on Inquiring Minds
"Tesla is a name we see everywhere these days cars companies heck i even know of three pets that have that name these days nikola tesla's become a darling of silicon valley where his spirit of invention is celebrated daily that resurgence is largely due to all of his contribution so there is alternating current for sure but he also had contributions to radio radar xrays wireless technology which i found crazy even robotics and yes the web comic the oatmeal had a huge hand in the popularization with that fateful web comic and fund raising campaign for the tesla museum but tesla the man died penniless was quickly erased as one of the smartest and most famous people of his time and while we focused on the inventions we often don't talk about tesla the man have you noticed this strange resurgence over the past ten years because tesla's not a name we heard much about before let's say like two thousand yeah i know it seems like yeah i mean i i don't know if this is something that we can blame you on musk for or people are like it's like name recognition all of a sudden but certainly yes he's he seems to have grown in our kind of in fame in the history of science in the last decade more so than he did in the previous five decades and you can imagine a inventor that that is that prolific is probably a strange dude and guess what nikola tesla lives up to every bit of that and that's why this week we have on richard munson he's the author of several books he currently directs the environmental defense fund clean energy efforts in the midwest but his newest book is tesla inventor of the modern which chronicles his life from growing up in serbia to his time in the us wasn't there a recent movie out about tesla shirt there's been multiple movies about tesla but my favorite is the prestige yes is that with benedict cumberbatch no that one this one has wolverine and i am batman in okay well yes i feel like if someone hasn't cast benedict cumberbatch is tesla they should because to me he'd be like the perfect you know weird dude well thanks for joining us on indre and sure try to remember movies so with that let's take a short break and we'll be back with.
"nikola" Discussed on Historical Figures
"Who asked him to design improved arc lighting for the hazardous streets in factories that wasn't the opportunity tesla was looking for but the group was willing to finance the tesla electric light company so he took it in 1887 when he was thirty one years old tesla set up shop in his new lab at eighty nine liberty street although the company was focused on street lighting he returned again to his research on an alternating current motor he had a plan but still no working motor but he was confident he knew how to build it because nikola tesla believed he had a very unusual gift at first he considered it and affliction but since childhood tesla experienced strange visions he'd see strong flashes of light followed by images and scenes so vivid that he couldn't tell if what he was looking at was real or imagined one such vision was of the induction motor in budapest throughout his life no doctor was able to explain the phenomenon to him the only explanation tesla himself could come up with is that his brain was thinking so much about something that it was actually putting images on his retina for him to see i'm not sure physiologically make sense but that worked for tesla he was convinced that once he had visualize something he could make it a reality so with that in mind tesla began to build the machine he saw in his vision in hungary years before he was out to change the world at that time in new york city direct current was the only game in town.
"nikola" Discussed on Historical Figures
"Caused him pain and agony when he walked in the sun the bright raise beating down on his head stunned him when the doctors and budapest didn't have a clear diagnosis many people thought tesla was experiencing a nervous breakdown but as mysteriously as the illness appeared it went away suddenly nikola felt vibrant and filled with energy able to comfortably spend time outside again tesla took long walks with his friend anatol where they would discuss the idea of an alternating current motor which tesla was still puzzling over man that was on one of those walks where inspiration struck nikola tesla he was walking through a park at sunset with a friend reciting poetry quote the glow retreats done as the day of toil it yonder haste s new fields of life exploring uh that no wing can lift me from the soil upon its track to follow follow oh soaring and quote as he began quoting lines from gert to faust suddenly he had a vision he later said the idea came like a flash of lightning he picked up a stick and started drawing what he saw in the sand it was what we know today as the induction motor now for a favorite of ours here at par cast our friend greg hosts of bone chilling new podcast called haunted places every haunted place on earth has a frightening real backstory and every other week gray gives an audio tour of a new haunted place and it's haunted history he tells spooky legends weird histories and spinetingling tales of the supernatural and taunted places is also a podcast podcast par cast is the production company that makes historical figures so you know will be extremely entertaining and produced the park has team of writers and researchers delved deep into the details stories of death neglect and unresolved fates that linger in the fabrics at these haunted places checkout episodes covering the see so hotel and marilo right now new episodes come out every other thursday so subscribed to haunted.
"nikola" Discussed on Historical Figures
"Sl possess at the same time nico received daily training from his father is father would have him participate in various exercises of the mind guessing one another's thoughts repeating long sentences or performing mental calculations tesla concluded that these lessons were beneficial in strengthening his memory and developing his critical reasoning it was all it dill iq until one day his older brother dane who is parents considered the family genius went horseback riding there was an accident and sadly dane was killed it was a crushing blow to the tesla family and it would reverberate for nikola his entire life some reports say he saw the accident and others that young nicholas spooked the horse causing it whether or not nikola was involved losing his brother devastated the young boy he felt an obligation to make up for his parents loss and alleviate their said witness he also felt an overwhelming sense of guilt that he and not dane had survived later tesla would confessed that he was driven to mental exhaustion trying to prove himself worthy of his parents love he said quote anything i did that was credible merely 'cause my parents to feel their loss more keenly so i grew up with little confidence in myself it is speculation but given his strange behavior in later years many concluded that tesla had obsessive compulsive disorder recent studies have linked the onset of oecd with significant traumatic events so it's very likely this incident spurred the start of the disorder and this traumatic incident could be the root of that affliction after his brother's passing there was more tension at home between nikola and his father now the only son nikola was expected to follow in his father's footsteps by becoming a priest but young nikola had his heart set on.
"nikola" Discussed on Historical Figures
"Nicholas father milutin tesla was a priest in the serbian orthodox church he worked in a local parish in the village of s million which is located between the attic c and the velebit mountains milutin was also a writer and poet he prided himself on his prodigious memory the joke that if all the classics of literature were destroyed he could restore them from memory the learned priest kept a large librarian the house and nikola who began reading at a young age was soon caught up in the books he red constantly no matter what time of day it was milutin tesla was afraid the young nikola affectionally called nico would ruin his eyes reading at night so he took away all his sons candles but nikola would not be deterred he made his own candles from scraps of wax and then stuffed rags under his bedroom door of no light would escape and alert his father sal sounds like an early sign of that industrious inventive spirit i think so though nikolas life was dull books when he was growing up the family home was a small farm and he spent hours playing with the animals and enjoying the outdoors be also played with his siblings nikola had an older brother duane older sisters milka and angelina who looked after him he also had a younger sister marija watching over the whole brood was tesla's mother georgina better known as jukuns although as a woman she had been deprived of a formal education she possessed a memory that was as impressive as her husband's and often would recite serbian poetry to the children at night georgina came from a family of inventors and she had a knack for invention as well young nikola saw his mother built tools and small machines like looms and even a mechanical kitchen mixer to ease the burden of keeping up with five kids and a farm tesla later road i must traced to my mother's influence whatever inventive.
"nikola" Discussed on Historical Figures
"When we hear the name tesla many of us think electric car but the name comes from nikola tesla an engineer and inventor whose life span from the mid 19th to mid 20th century although he was instrumental in developing advancements in electricity lighting radio and even remote control he would die penniless and quickly be forgotten for decades it is only recently that his achievements and his place in history have become widely recognised again perhaps that's a testament to how far ahead of his time he actually was bonn it is also because he led a life that could only be described as eccentric now that his name has become more prominent even if it is just as a luxury car brand it is only fitting that we wonder who this man actually was today we try to shed some light on this intellectual luminary this is the life of engineer and inventor nikola tesla i'm vanessa richardson carter roy welcome to historical figures if you want to listen to previous episodes of historical figures you can find them on i tuned google play stitcher spotify or your favorite podcast directory and if you like the show we'd really appreciate a fivestar review that seems simple but it helps us keep the show going you can also find us on facebook and instagram at park cast and on twitter at par cast network don't forget to subscribe because a new episode comes up every wednesday nikola tesla was born on july tenth 18 56 in the region of the austrohungarian empire now known as croatia but his parents were serbian which could have been an issue because the two ethnic groups serbs and croats were and are wellknown rivals however tesla was a lifelong pacifist and he was later quoted as saying he was equally proud of both his serbian and croatian heritage.