Nikola founder and former CEO, Trevor Milton has been sentenced to four years in jail in a fraud case involving the electric truck manufacturer. Milton had claimed that truck maker Nikola had built its vehicle from the ground up. The jury found him guilty of misleading investors about the company’s technology. The former CEO was also ordered to pay a fine of $1 million.

The fraud case was instituted in the US and the Federal prosecutor said Milton provided false information about Nikola’s capabilities. The false information included a claim that the company built the Nikola One electric truck from the ground up. The prosecutor also accused Milton of staging a video purportedly showing the Nikola One semi-driving under its power when it was rolling down a hill.

Nikola was founded in 2015 and claimed it would make zero-emission big rigs based on hydrogen fuel cell technology. In 2020, General Motors announced plans to acquire an 11% equity stake in Nikola. GM also said that it will assist Nikola in manufacturing its battery-electric and hydrogen fuel cell vehicles. However, the upward progression of Nikola was seemingly halted a week later after a bombshell report came from Hindenburg Research. The short-selling firm had accused Milton of fraud including the video of the Nikola One truck rolling down a hill. Milton was also accused of falsely claiming to produce hydrogen fuels at below-market rates, as well as obtaining several billions of dollars in truck orders.

A fallout of the damning report on Nikola saw General Motors swiftly backing out from its planned equity purchase and Milton stepping down as the board chair and CEO. The report also triggered a federal investigation that led to the arrest of Milton. The crisis led to the scaling down of the company’s operations and in 2021, it halted work on its electric ATV and motorboat project. About $14 million is estimated to have been lost by Nikola as a result of the discontinuation of the electric ATV and motorboat development.

There has been no official response by Nikola or Trevor Milton on the fraud case ruling. This may however not be the end of the case.

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Soft drinks giant Coca-Cola has unveiled its battery-powered Renault trucks ahead of Pepsi’s release of the Tesla Semi. Pepsi is scheduled to begin its delivery operations with the Tesla Semi on December 1.

Renault Trucks, the manufacturer of the new Coke delivery trucks had previously mocked Tesla’s Elon Musk about the release of the Semi. While Pepsi is setting up its Megacharger station, Coca-Cola has already commenced operations with its new electric trucks in Belgium. Both long-haul EV trucks by Renault and Tesla mark their entry into the heavy-duty end of the EV industry. Tesla CEO Elon Musk has made several failed promises concerning the release of the Semi since 2017. This year, however, it is expected to debut with 15 trucks to its first customer Pepsi by December 1.

The Renault trucks released to Coca-Cola in Belgium are of the E-Tech D et D Wide model with a likely shorter range than the Tesla Semi. The Renault electric rigs will be deployed for last-mile deliveries by Coke. The model was custom-designed to suit Coca-Cola’s logistic data on deliveries, according to Renault Trucks. The trucks provide energy efficiency, comfort, and safety for drivers. They are also equipped with 360-degree camera systems to eliminate bind spots, a clear door on the passenger side, and a loudspeaker to warn pedestrians and cyclists.

The Renault rigs have a range of 200km on a single charge, compared to the 150km average route distance for diesel delivery trucks. The trucks can be charged overnight from dedicated piles using green energy for the top-ups generated on-site.

Renault says it is expanding the public charging infrastructure in Europe through several strategic partnerships. It hopes to deliver a true competitor to the Tesla Semi in 2023. The new electric truck will come with a much longer range than the electric rigs deployed by Coca-Cola.

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