Criminal Law
Nikola Receives a $2 Million Federal Grant While Their Founder Faces Criminal Charges
Electric truck maker Nikola said Thursday it was approved for a $2 million grant from the Energy Department — news that comes despite the fact that the company’s founder and largest shareholder faces federal criminal charges for deceiving shareholders.
The grant is to help Nikola develop refueling technologies for its planned hydrogen fueling stations for the trucks it is planning to build.
“This funding is essential to advance key hydrogen fueling technologies that can improve the overall efficiency of fuel-cell commercial vehicles, while maintaining the safety and reliability standards required,” said Pablo Koziner, president of Nikola’s energy and commercial unit. It is the second such government grant given to the company, following a $1.7 million grant it received in August 2019.
