Nikola Motors (NKLA) has lost almost its entire supply chain leadership over the last few months as the situation at the company is starting to look dire.
Sources familiar with the matter say that the company put a hiring freeze in place for now.
The last year has been tough for Nikola Motors.
The startup known for trying to bring electric and hydrogen-powered trucks to market has been in hot water after a report from Hindenburg Research made several allegations exposing deception by Nikola and its founder Trevor Milton, including several claims corroborated in previous reports from Electrek and Bloomberg.
Nikola issued a response to those claims, but as we reported, the response lacked any rebuttal of the main allegations of deception by the company and its founder, Milton.
The most damning claim was that it faked the first video of its hydrogen truck driving. The company even admitted to it, without issuing an apology, and instead claimed its deception was fine due to a technicality. Milton ended up leaving the company as the pressure started to increase.
In July, Milton was officially charged with three counts of criminal fraud over false claims he made about the company.
Now Nikola is expected to face a fine of $125 million from the SEC over its role in the situation.
During that time, the controversies took away from the actual work that the company was trying to accomplish.
Its deal with GM to build an electric pickup truck fell through and its…
