Nikola Corp. received state funding from California Air Resources Board

Trevor Milton founded Nikola Corp. and promoted the company as a rival to Tesla, claiming it had developed a fully functional hydrogen-powered semi-truck and operated a large hydrogen production facility. Despite Milton facing criminal indictment in 2021, the California Air Resources Board allowed Nikola Corp. to compete for state funding in 2022. State officials ultimately paid over $50 million to help customers purchase more than 166 of Nikola Corp.'s electric and hydrogen-powered semis, though the company later collapsed and many trucks were recalled for battery and tank issues.

The event highlights the use of state subsidies to support emerging competitors in the electric vehicle market. The reports detail Nikola Corp. receiving significant public funding while making unsubstantiated claims about its technology and market position against Tesla.