A boost for hydrogen trucks, and fortune of founder Trevor Milton
Since its launch in 2014, Nikola has relentlessly kept up with the market. It’s recent $12 billion Nasdaq debut is one that eventually turns the company’s founder, Trevor Milton into a multibillionaire. The stock is now trading publicly after a quiet initial public offering (IPO).
The Phoenix-based company was founded in 2014. Nikola is known for its design and manufacturing of electric vehicles, drivetrains, and components, with Nikola One and Nikola Two electric semi-trucks as some of its products. Rather than use fossil fuel to power its vehicles, the automobile maker plans to use to convert water into hydrogen that can be used as trucking fuel in place of diesel.
Source: https://www.investingport.com/Nikola-motors-begin-trading-as-a public-company-after-a-quite-IPO/