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“I don’t care if they stole my idea … I don’t care if they don’t have their own”. So told Nikola TeslaThe famous engineer and inventor 18- and the 1900s are thus associated with progress in the world of energy.
Of course, his name is also significant to be used as a brand of a certain production company for an electric vehicle in America … No, no, no that one, the second one.
Nikola may not have stolen any ideas, but they were certainly one of the original design companies, and now they became one of the few who have disappeared from EV sphere, really the whole world soon. And, while theft the idea was no problem, brightening the ones they had.
Organization specified in the USA worth over $ 30 billion (£ 23.8 billion) to five years ago, Nikola yesterday filed To protect against bankruptcy after everything is running out of cash, acrung huge debts and produce far too little real vehicles.
Like other EV manufacturers, the “market and macroeconomic factors” influenced Nikola, said Steve Girsky Executive Director. The company promises thousands of vehicles when floating, both batteries and Hydrogen fuel Nikola is powered in a cell, ultimately delivered less than 400 trucks last year. From the value in the same range as Ford, stock He sank on Wednesday to below 50 cents.
As for hypercical stories, it is certainly cautioner as well as disappointing.
Internal and external problems as
Nikola now has a cash deal from only $ 47 million, but Debts of over $ 350 million. The company tried “to raise capital, reduce their obligations, clean our balance sheet and preserve cash to maintain our business”, but this was not possible, Mr. Girswess added. Sales of property and intellectual property remains the only course of action to preserve some value for creditors, then the company will effectively cease to be, beyond some support of trucks on the road.
Here, there are so many factors, it is impossible to choose the one that is most blamed, but together with the market of EV, it does not grow as strong as they hope, Nikola had their own internal problems.
Report from short sales Hedge fund Hindenburg research accused Nikola to fake progress in terms of their trucks and, ultimately, Nikola founder Trevor Milton was arrested and sentenced to four years in prison, decision on Ft Notes remain under the appeal. The company was in 2021. year paid $ 125 million (£ 99 million) to settle the case against Him by DIK, with Guardian Nicholas reporting did not admit any injustice.
In June 2020. year the company hovered at Nasdaq Exchange and third day of shares of stock prices surden over 100 percent.
Talking on billion dollars of valuable orders and expectations of encouraged mega hype that this EV can cause Tesla and others; Instead, he lost 99.7 percent of the value of the share price in the past year.
Wednesday 39 percent falling out of what was already Then a loss of 99 percent 12 months only serves as a reminder that regardless of so much action, there is always the possibility for another fall – or total deletion.
Future legacy
Danni Hewson, the head of financial analysis on Aj Bell, was explained that in the second political landscape could have been a story of reversal, but instead they go to the path of fiscera, arrival and Lordstown engines.
“Nikola was a poster of EV Uzurpara for a while. The favorite of the investor, looked like a real job, and even Vied Ford for a market cap. The other Pandemic Start-Up was heard. But then they are came to allegations of fraud lodious more than a few seeds suspicion and certainly played a part in GMS a sudden lack of interest, “she said Mrs. Hewson.
“Has the increased company could turn things out if the interest rates were not shot and if the US downloads were as intended to be business students to strive for time, but with many of its pandemic cohort, such as Lordstown engines, too Punching and sliders, it is clear that it would be a difficult job.
“What is also clear is that it feels about EVS in the USA already transferred even before the return of Donald Trump in the White House, with a lot of legacy that roll their electric dreams. Sheer charts of those long, winding highway means The construction of the infrastructure needed to facilitate the Grand EV revolution will be an extremely expensive task, and one who will require companies and politicians to share in determination In order to make the decision-making in determination. “
As for the long game in the Battle of EV, Ms. Hewson notes that Nikola’s IP “could present the opportunity” in the future, for a work that is quite done on the sphere of hydrogen.
But the lack of commercial success There and practical problems with the infrastructure in place for widespread success means that there is a very long-term dream for now. It certainly did not come enough for Nikola or for those who invested in it.
Another attribute Nikola Tesla is: “You can live to see the horrors of man beyond your understanding.”
While the fall of any particular business (probably) is not exactly what he had in mind, it might be by the remaining shareholders Nikola felt these days.