Trevor Robert Milton (born April 6, 1982) is an American entrepreneur and convicted felon, founder and former executive chairman of Nikola Corporation, a company focused on developing hydrogen and electric-powered commercial vehicles.
[9] He eventually exited the business and founded an alternative energy vehicle company called dHybrid, Inc. which retrofitted commercial trucks with engines that could run on natural gas instead of diesel.
[13][10][14] Inspired by Nikola Tesla, Milton aimed to revolutionize the commercial trucking industry by developing hydrogen-electric and battery-electric semi-trucks to provide sustainable and zero-emission alternatives to traditional diesel-powered vehicles.
[21][22] In 2020, Nikola went public through a reverse merger with VectoIQ, a special purpose acquisition company (SPAC), achieving a valuation of approximately $12 billion.
[23] By June 2020, the shares had more than doubled in selling price since they began trading, as investors continued to bet on the growth potential of electric transportation.
[24] On September 8, 2020, Nikola and General Motors announced a partnership, which led to an significant increase in the company’s stock price.
[25] On September 10, 2020, two days after Nikola established ties with General Motors, short seller Hindenburg Research released a report accusing Milton of making false statements and calling the company "an intricate fraud.
[32] In September 2020, allegations of sexual misconduct against Milton were reported by media outlets, including CNBC and The Wall Street Journal.
[47][48] In November 2019, the Los Angeles Times reported that Milton had bought a 2,000-acre Utah ranch with a 16,800 square foot riverside mansion for $32.5 million.