The United States has about 100,000 public chargers, far fewer than Europe and China. It needs 10 times as many, auto experts say, to complete the switch from combustion engine vehicles.
The activist short-seller behind Hindenburg Research has become known for research that sends companies’ stock sinking. He says he’s not in it just to move share prices.
Federal prosecutors charged Mr. Milton with misleading investors about the technology for battery- and hydrogen-powered vehicles Nikola had hoped to manufacture.
The deal would provide badly needed cash to a company that said this summer that it could go out of business without raising more money.
A longtime real estate investor and former Goldman Sachs executive decided to take an electric truck company public. Chaos ensued.
It was not clear what issues the prosecutors, with the U.S. attorney’s office in Manhattan, are looking into.
Lordstown Motors said it would start producing and selling electric pickup trucks this year, but there is little evidence it is ready to do so. Its stock has tumbled from a high of about $30 last year to around $8.
