Bosch issues statements to defend Nikola, contradicts Hindenburg Research

(WIWO) – The allegations are massive: “We have never experienced such a level of deception in a public company,” writes the short-selling company Hindenburg Research in a blog post that appeared on its website on Thursday about the hydrogen start-up Nikola Motor . The listed company is “built on dozens of lies”.

The German Nikola partner Bosch also appears in the report; the auto supplier is named 19 times in it. Specifically, Hindenburg Research writes that Nikola boss Trevor Milton claimed in July that five of his Nikola Tre trucks had just come from the production facility in Ulm. A Bosch spokesman objected to this in September and said: “No, they are not finished yet.”

At the request of WirtschaftsWoche, Bosch now contradicts Hindenburg’s descriptions. ” We are familiar with the Nikola Motor report published yesterday (…) by Hindenburg Research, ” the statement said. “Statements in the report that are attributed to a Bosch employee have been taken out of context and are not applicable.”

Specifically, it is about a telephone conversation between Hindenburg and Bosch on September 9th. “Questions about Nikola were referred directly to Nikola,” Bosch now comments. “The rest of the conversation revolved around Bosch’s plans for the commercial vehicle IAA, which has since been canceled, as well as Bosch’s fuel cell activities and the European H2Haul project.” Bosch does not comment on customers.

Bosch has been a supplier to Nikola Motor for several years. In an interview with WirtschaftsWoche, Bosch confirms that it will continue its partnership with Nikola: “The two companies plan to continue working together in the future – including on fuel cells.”