Nikola Corporation
Company History
Nikola History: Founding, Growth & Key Milestones
Founded 2014 in Salt Lake City, United States
When was Nikola founded?
Nikola was founded in 2014 in Salt Lake City, United States by Trevor Milton, making it 12 years old.
- Founded
- 2014
- Founding place
- Salt Lake City, United States
- Founders
- Trevor Milton
- Headquarters today
- Phoenix, Arizona, United States
- Milestones documented
- 12 (2014–2026)
- Current CEO
- Stephen J. Girsky
- Acquisitions
- 3
| Year | Event |
|---|---|
| 2014 | Nikola Motor Company founded in Utah |
| 2016 | Nikola One prototype unveiled |
| 2018 | Patent Suit Against Tesla |
| 2019 | CNH Industrial / Iveco partnership |
| 2020 | SPAC listing and Hindenburg report |
| 2020 | General Motors Deal Scaled Back |
| 2021 | $125 million SEC settlement |
| 2022 | Tre BEV deliveries and Milton conviction |
| 2023 | Tre FCEV launch, recall and CEO change |
| 2024 | HYLA stations and reverse split |
| 2025 | Chapter 11, Lucid asset sale and liquidation |
| 2026 | Liquidation plan upheld on appeal |
- Where was Nikola founded?
- Nikola was founded in Salt Lake City, United States in 2014. wikidata.org
- Who founded Nikola?
- Nikola was founded by Trevor Milton.
- When did Nikola start?
- Nikola was founded in 2014.
- How old is Nikola?
- Nikola is 12 years old as of 2026.
Founding Story
Trevor Milton started Nikola Motor Company in Salt Lake City in 2014 and named it after inventor Nikola Tesla. The Nikola One hydrogen semi was unveiled in 2016. A 2018 promotional video that seemed to show the truck driving was later revealed to have been filmed as the truck rolled down a gentle slope, and that became central to the fraud case against Milton.
Founders
Trevor Milton
Trevor Milton founded Nikola in 2014, aggressively positioning the company as the absolute direct 'Tesla-killer' for the commercial trucking industry. Utilizing massive hype and highly deceptive marketing (including famously rolling a truck down a hill to pretend it was functional), he took the company public and briefly became a multi-billionaire before being exposed by short-sellers, convicted of massive federal securities and wire fraud, and sentenced to four years in federal prison in 2023. Trevor Milton was born in 1982 in Layton. Education: Utah Valley University. Trevor Robert Milton was born on April 6, 1982. He resigned as executive chairman in 2020 after regulatory inquiries and was found guilty of securities and wire fraud in 2022. He is also chief executive of SyberJet Aircraft, a Utah company developing business jets.
Key Milestones
Nikola Motor Company founded in Utah
Trevor Milton founded Nikola Motor Company in Salt Lake City to build alternative-powertrain semi-trucks.
Source: en.wikipedia.orgNikola One prototype unveiled
Nikola unveiled the Nikola One hydrogen sleeper-cab concept and moved its headquarters to Phoenix, Arizona.
Source: en.wikipedia.orgPatent Suit Against Tesla
Nikola sued Tesla in May 2018 for $2 billion, alleging that the Tesla Semi infringed its design patents.
Source: en.wikipedia.orgCNH Industrial / Iveco partnership
CNH Industrial invested $250 million, and the Iveco S-Way cab became the basis for the Nikola Tre.
Source: en.wikipedia.orgSPAC listing and Hindenburg report
Nikola listed on Nasdaq through its merger with VectoIQ in June. A Hindenburg Research report in September was followed by Trevor Milton's resignation.
Source: en.wikipedia.orgGeneral Motors Deal Scaled Back
Nikola and General Motors announced a $2 billion partnership in September 2020 and reduced it to a non-binding supply agreement in November.
Source: en.wikipedia.org$125 million SEC settlement
In December 2021 Nikola agreed to pay a $125 million civil penalty to settle SEC charges over misleading statements by Milton.
Source: chapter11cases.comTre BEV deliveries and Milton conviction
Coolidge production of the Tre BEV ramped up, and in October a federal jury convicted Milton of securities and wire fraud.
Source: en.wikipedia.orgTre FCEV launch, recall and CEO change
Nikola started series production of the Tre hydrogen fuel cell truck, recalled its battery-electric trucks after battery fires, and named Steve Girsky CEO in August. It posted a $966.3 million net loss.
Source: nasdaq.comHYLA stations and reverse split
Nikola opened its first HYLA hydrogen station in Ontario, California, and completed a 1-for-30 reverse stock split in June.
Source: en.wikipedia.orgChapter 11, Lucid asset sale and liquidation
Nikola filed for Chapter 11 on February 19 and sold its Coolidge plant to Lucid in April. Its liquidation plan was confirmed September 12 and took effect December 12.
Source: chapter11cases.comLiquidation plan upheld on appeal
In September 2026 the U.S. District Court for Delaware affirmed the confirmation order, rejecting appeals by Trevor Milton and securities class plaintiffs.
Source: chapter11cases.comMajor Acquisitions
Romeo Power
2022All-stock purchase of Nikola's battery-pack supplier.
Free Form Factory
2017Acquired proprietary composite component manufacturer Free Form Factory to leverage patented thermoforming manufacturing for powersports and vehicle components.
VectoIQ Acquisition Corp. (Reverse Merger)
2020Completed reverse merger with Steve Girsky's special purpose acquisition company (SPAC) VectoIQ Acquisition Corp. to take Nikola public on the Nasdaq.
Keep researching Nikola
Nikola Company History FAQ
What are the major milestones in the tumultuous history of Nikola Corporation?
Key milestones include: founding by Trevor Milton (2014), IVECO partnership (2019), NASDAQ public listing via SPAC merger with VectoIQ (June 2020), Hindenburg Research fraud report and Milton resignation (Sept 2020), completion of Coolidge AZ factory (2022), launch of commercial Tre BEV (2022), launch of HYLA hydrogen brand (2023), commencement of serial commercial production of Tre Hydrogen FCEV (July 2023), Stephen Girsky appointed CEO (August 2023), and 1-for-30 reverse split (June 2024).
What occurred during Nikola's peak valuation boom in June 2020?
In June 2020, shortly after completing its SPAC merger on NASDAQ, Nikola's stock surged to over $90 per share, briefly exceeding a market capitalization of $30 billion (surpassing Ford Motor Company) driven by retail investor euphoria for zero-emission commercial trucking.
How did the Coolidge, Arizona assembly facility transition from ground-breaking to mass production?
Nikola broke ground on its 800-acre Coolidge site in July 2020, completed phase-1 construction in 2022, and launched serial commercial assembly of Class 8 hydrogen fuel cell trucks in July 2023, creating hundreds of high-tech advanced manufacturing jobs in Arizona.
When did Nikola begin commercial serial production and delivery of its Hydrogen Fuel Cell truck?
On July 31, 2023, Nikola officially commenced serial commercial production of the Nikola Tre Hydrogen FCEV in Coolidge, Arizona, delivering the first commercial units to drayage and logistics fleets in Southern California in late 2023.
How did Nikola launch the first commercial modular HYLA hydrogen fueling stations in 2024?
In early 2024, Nikola officially opened its first commercial HYLA modular hydrogen refueling stations in Ontario, Long Beach, and Colton, California, dispensing 700-bar hydrogen fuel to commercial Class 8 fleets operating in the Inland Empire and Port logistics corridors.
How did Nikola resolve regulatory investigations with the US Securities and Exchange Commission (SEC)?
In December 2021, Nikola resolved all civil charges with the SEC regarding legacy statements made by founder Trevor Milton by agreeing to pay a $125 million civil penalty in scheduled installments, with the company seeking full indemnification through legal arbitration.
How did Nikola's history end?
Nikola filed for Chapter 11 on February 19, 2025, sold its Coolidge plant to Lucid in April 2025, and had its liquidation plan confirmed on September 12, 2025. The plan took effect on December 12, 2025.
Why did Nikola go bankrupt?
Nikola lost far more than it earned ($966.3 million in 2023 on $35.8 million of revenue), carried liabilities from its founder's fraud, faced costly hydrogen and a 2023 truck recall, and could not raise enough new capital to keep operating.
What did the 2020 Hindenburg Research report reveal about Nikola?
In September 2020, short-seller Hindenburg Research published an exposé revealing that founder Trevor Milton had made dozens of fraudulent claims to inflate stock prices. The most infamous revelation proved that a 2018 video showing the Nikola One semi-truck driving at high speed was staged: the non-functional truck had been towed to the top of an inclined Utah hill and filmed rolling down in neutral.
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