| To: JubilationT who wrote (135) | 9/23/2020 6:15:10 PM | | From: kidl | | | | The sidelines ... Good move.
I have been on the sidelines for a couple of months aside from a few day trades but turned to the "dark side" as soon as I saw Nikola's pathetic Hindenburg rebuttal. |
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| From: kidl | 9/24/2020 8:19:24 AM | | | | | | Nikola under fire again as Wedbush turns bearish
Sep. 23, 2020 10:23 PM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor
Wedbush drops Nikola (NASDAQ: NKLA) to an Underperform rating in a new note posted after the market close.
"While we have watched this name from the sidelines given our caution on the execution front, we now believe the downside risks outweigh any positives for the stock," writes analyst Dan Ives.
"Overall we still believe the company's EV and hydrogen fuel cell ambitions are attainable in the semi-truck market, although we have serious concerns that the execution and timing of these ambitious goals stay on track over the coming years," he adds.
Beyond the Trevor Milton drama, Ives also thinks some of the eye-popping battery innovations coming out of Tesla throws a wrench in the ROI story around hydrogen fuel cell vehicles over the long term. |
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| From: Julius Wong | 9/24/2020 8:07:38 PM | | | | | | Tesla (TSLA) claims Nikola (NKLA) stole its truck design from Rimac designer
In a surprising turn of events, Tesla (TSLA) now claims Nikola (NKLA) stole its truck design from Rimac’s designer in an update to its patent lawsuit update.
As we previously reported, Nikola alleged that Tesla’s electric truck design infringes on its existing patents.
Specifically, a series of three design patents that Nikola obtained for the design of a few features of its Nikola One truck unveiled in 2016 — a year before Tesla unveiled its own electric truck.
Nikola is asking for $2 billion in damages from Tesla.
Tesla denies the claims, but since Nikola obtained the design patent, it is now in a position to either show that it is not infringing on the patent or attempt to invalidate the patents.
In a new response filed this week, Tesla claimed that the patents aren’t valid because Nikola failed to disclose that some of the Nikola One’s features were designed by Adriano Mudri, most known for being the Director of Design at Rimac.
Tesla wrote in their response:
“Adriano Mudri is the designer of the Road Runner concept truck. The Road Runner truck is a hydrogen-powered concept truck. The Road Runner concept truck was entered into the 2010 Michelin Design Challenge, and was selected for display at the 2010 North American International Auto Show. Several images of the Road Runner concept truck are reproduced below.”
Here are the pictures that Tesla references in the statement above:
 
Tesla claims that Trevor Milton met with Adriano Mudri “during 2014 and/or 2015” and he was aware of the Road Runner truck design, which has similar features as the Nikola One, including the wrap-around windshield — one of the designs that Nikola patented.
The automaker added in the filing:
“Adriano Mudri’s Road Runner concept truck design constituted a significant inventive contribution to the inventions claimed in the Design Patents. Adriano Mudri was not identified as an inventor during prosecution of the applications that led to the Design Patents.”
Tesla argues that Milton had “deceptive intent” in not naming Mudri as an inventor in the patent application and that the patent office wouldn’t have issued the patent if they would have been aware that some features were based on a prior design by Mudri.
Here is Tesla’s new filing in full as part of the lawsuit:
View this document on Scribd
Electrek’s TakeWhen Nikola first filed the lawsuit, we broke down each of the Nikola’s specific claims in what we believed basically amounted to a patent trolling case in a purely design-based objective way.
The truth is that the patent office should have never granted the patents in the first place.
They are all about vague design features that have been around for decades before Nikola ever existed and granting them only opens the door for some malicious people to do some patent trolling.
That’s exactly what happened.
I think the only winners in this situation, like it is often the case in those patent trolling cases, are going to be the lawyers involved.
electrek.co |
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| From: kidl | 9/28/2020 8:49:09 AM | | | | | | 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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| From: kidl | 9/29/2020 8:49:03 AM | | | | | | Will GM's deal with Nikola still close tomorrow?
Sep. 29, 2020 4:44 AM ET|About: Nikola Corporation (NKLA)|By: Yoel Minkoff, SA News Editor
"Our transaction with Nikola (NASDAQ: NKLA) has not closed," a GM spokesperson said Monday in an email. "We are continuing our discussions with Nikola and will provide further updates when appropriate or required." The deal was expected to close by September 30.
Compare that to a statement from GM last week, which said it remained committed to the agreement as outlined on Sept. 8. The deal calls for GM to build the Nikola Badger electric pickup with its proprietary Ultium batteries and provide fuel cells for the Badger and Nikola's semitrucks.
"Even if Nikola completely imploded and went out of business tomorrow, GM financially would not be hurt by that," said David Whiston, senior equity analyst for Morningstar. "If Nikola is not a fraud, the long-term upside option value of the deal is still there for GM."
Earlier this month, GM CEO Mary Barra defended the company's $2B, non-cash deal with Nikola, saying it conducted "appropriate diligence" before announcing the agreement.
Compounding the recent troubles, two women have filed sexual abuse complaints against Nikola founder Trevor Milton that stretch back more than 15 years ago, though Milton has "strongly denied" the allegations.
NKLA -3.1% premarket to $18.70/share.
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