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Technology Stocks : Nikola Corp
NKLA 7.305-8.6%3:59 PM EST

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From: kidl9/28/2020 8:49:09 AM
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Nikola One design said to have originated from Rimac designer

Sep. 28, 2020 8:04 AM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor

Financial Times reports Nikola (NASDAQ: NKLA) founder Trevor Milton purchased the original design for the company's flagship truck from Croatia-based Rimac Automobili.

The development is interesting because the Nikola One hydrogen-powered truck is at the center of a design patent infringements lawsuit that Nikola filed against Tesla in 2018.

Milton is reported to have purchased the designs of the vehicle for several thousand dollars from Rimac Automobili designer Adriano Mudri in 2015. In a response, the company says it is commonplace to license third-party designs during the early part of vehicle development and Mudri's designs are materially different from the design invented by Nikola for the Nikola One.

Shares of Nikola are up 3.39% premarket to $20.12.
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