Milton, 39, who stepped down from the company last year, is charged with misleading investors from November 2019 until around September 2020, according to a criminal indictment unsealed Thursday by federal prosecutors in New York. He voluntarily surrendered to federal custody and was freed by a judge on $100 million bail after pleading not guilty. The bail was secured by a 2,700-acre ranch in Utah owned by Milton, who promised to limit his travel and not to contact investors.“In order to drive investor demand for Nikola stock, Milton lied about nearly every aspect of the business,” U.S. Attorney for the Southern District of New York Audrey Strauss said in a press conference.
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GSCW chat recap: Duchesne on Nikola’s Arizona plant
Duchesne talks the ‘art of making things’
0 1,166 1 minute read Mark Duchesne discusses Nikola s new plant construction in Arizona.
This fireside chat recap is from Day 4 of FreightWaves
FIRESIDE CHAT TOPIC: Nikola’s first plant blooming in the Arizona desert
DETAILS: Mark Duchesne brought diverse manufacturing experience to Nikola Corp., having helped build a plant for Toyota in China and make startup car building decisions at Tesla Inc. He is applying the best of both to Nikola as it builds its electric truck plant in the Arizona desert.
SPEAKER: Duchesne, global head of manufacturing at Nikola
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The first two acts in Mark Duchesne s manufacturing career came at buttoned-down
Toyota Motor Corp. (NYSE: TM): 22 years adhering to process-driven, box-checking principles. Then came five freewheeling years at
Tesla Inc. (NASDAQ: TSLA) where every day was an adventure. We didn t necessarily know what we were doing from one day to the next, he said of life in Elon Musk s world of robots named for comic book heroes and a parking lot assembly tent to meet demand and expectations for electric cars and SUVs.
Now Duchesne is on to Act 3, overseeing the construction of
Nikola Corp. s (NASDAQ: NKLA) $600 million manufacturing plant in Coolidge, Arizona. He is also keeping an eye on the pre-production Tre heavy-duty battery-electric trucks Nikola is building in an Iveco plant in Ulm, Germany.