According to a report by Bloomberg News on Monday, Nikola is currently under investigation by the SEC for false claims brought to light by Hindenburg Research, an activist short-seller research firm, who accused Trevor Milton, founder of Nikola, of fraud related to misinformation on Nikola’s technological capabilities and product offerings. [more]
Xpeng Motors, a China-based EV manufacturer, increased its U.S. IPO by more than 33% to $1.5 billion, providing a valuation of approximately $11 billion. This IPO is the third major U.S. listing made by a Chinese EV company in the past two years. [more]
Last week, Tesla, the global leader in the EV industry, surpassed Toyota as the world’s largest car manufacturer by market capitalization, reaching a value of over US$250 billion after reporting impressive deliveries for Q2/2020. In the past week, Tesla’s stock price continued to surge by over 20% to US$1,372 per share. [more]
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