Bosch Disputes Short Sellers Hindenburg Accusations about Nikola Motor Corp.

By September 13, 2020 2   min read  (256 words)

September 13, 2020 |

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Hindenburg Research a short seller that is accusing the start-up Nikola Motor of “deception” and lying about its technology continues to make headlines worldwide this weekend.

Nikola’s partner in Germany, Bosch was also included in this report and according to an interview done by WirtschaftsWoche Bosch is now contradicting the report.

WirtschftsWosche writes “Specifically, Hindenburg Research writes that Nikola boss Trevor Milton claimed in July that five of his Nikola Tre trucks had just come from the production facility in Ulm. A Bosch spokesman objected to this in September and said: “No, they are not finished yet.”

At the request of WirtschaftsWoche, Bosch now contradicts Hindenburg’s descriptions. ” We are aware of the Nikola Motor report published yesterday (…) by Hindenburg Research, ” the statement said. “Statements in the report that are attributed to a Bosch employee have been taken out of context and are not applicable.”

Specifically, it is about a telephone conversation between Hindenburg and Bosch on September 9th. “Questions about Nikola were referred directly to Nikola,” Bosch now comments. “The rest of the conversation revolved around Bosch’s plans for the commercial vehicle IAA, which has since been canceled, as well as Bosch’s fuel cell activities and the European H2Haul project.” As a matter of principle, Bosch does not comment on customers.

Bosch has been a supplier to Nikola Motor for several years. In an interview with WirtschaftsWoche, Bosch confirms that it will continue its partnership with Nikola: “The two companies plan to continue working together in the future “




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