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  #41  
Old Posted Jul 25, 2020, 7:16 PM
Obadno Obadno is offline
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Originally Posted by xymox View Post
Too bad we can’t get Tesla to move their Fremont factory to Pinal County. Seems like their would be some synergy between Lucid, Nikola and Tesla in terms of building a labor pool, etc.
I was surprised Elon went with RENO over Surprise for the gigafactory. I think he has some issue with AZ beyond pure business interest.
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  #42  
Old Posted Jul 25, 2020, 7:17 PM
Obadno Obadno is offline
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Originally Posted by fawd View Post
You are the only Comiefornian I want to move here
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  #43  
Old Posted Jul 27, 2020, 11:30 AM
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combusean combusean is online now
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Originally Posted by Obadno View Post
We might need to change the name of this thread
Done. Let's finally give Pinal County the love it deserves.

Can't believe "Casa Grande projects that never happened" only lasted two years. RIP.

Last edited by combusean; Jul 27, 2020 at 11:45 AM.
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  #44  
Old Posted Sep 12, 2020, 7:32 PM
muertecaza muertecaza is offline
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Might have to change the thread title back depending on how the Nikola drama from this week plays out...

https://electrek.co/2020/09/11/nikol...m-nothing/amp/
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  #45  
Old Posted Sep 13, 2020, 4:13 AM
phoenixwillrise phoenixwillrise is offline
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Especially since

Quote:
Originally Posted by muertecaza View Post
Might have to change the thread title back depending on how the Nikola drama from this week plays out...

https://electrek.co/2020/09/11/nikol...m-nothing/amp/
That Phoenix Mart and the Fake Disneyland never happened. Why change the title?
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  #46  
Old Posted Sep 13, 2020, 7:59 AM
xymox xymox is offline
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Originally Posted by phoenixwillrise View Post
That Phoenix Mart and the Fake Disneyland never happened. Why change the title?
Lucid did happen and are already talking about expanding and starting phase 2.

Despite the drama around Nikola - its just that - drama. Someone with a short position published a report that results in them making a lot of money off said short position. Hmm.

Regardless - their factory also broke ground recently.

So things are happening down there. Mostly curious about the race track proposal and where that is or if Covid killed that one. It'd be really nice to have an F1 capable track here.
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  #47  
Old Posted Sep 13, 2020, 4:41 PM
Sunsfan87 Sunsfan87 is offline
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Originally Posted by xymox View Post
Lucid did happen and are already talking about expanding and starting phase 2.

Despite the drama around Nikola - its just that - drama. Someone with a short position published a report that results in them making a lot of money off said short position. Hmm.

Regardless - their factory also broke ground recently.

So things are happening down there. Mostly curious about the race track proposal and where that is or if Covid killed that one. It'd be really nice to have an F1 capable track here.
I was high on Nikola but I heard the Nikola factory only has permits to move dirt, no building plans have been submitted. Also, isn’t it peculiar that Nikola touted its proprietary and revolutionary fuel cell batteries but now it will be using GM’s battery technology for their pick up truck and big rig trucks?

This is sounding more and more like Theranos from a few years back...
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  #48  
Old Posted Sep 13, 2020, 4:42 PM
Obadno Obadno is offline
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Quote:
Originally Posted by xymox View Post
Lucid did happen and are already talking about expanding and starting phase 2.

Despite the drama around Nikola - its just that - drama. Someone with a short position published a report that results in them making a lot of money off said short position. Hmm.

Regardless - their factory also broke ground recently.

So things are happening down there. Mostly curious about the race track proposal and where that is or if Covid killed that one. It'd be really nice to have an F1 capable track here.
The Nikola thing is bunk, GM and euro logistics companies wild not sign contracts with nikola if the technology was unproven
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  #49  
Old Posted Sep 13, 2020, 4:44 PM
Obadno Obadno is offline
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Originally Posted by Sunsfan87 View Post
I was high on Nikola but I heard the Nikola factory only has permits to move dirt, no building plans have been submitted. Also, isn’t it peculiar that Nikola touted its proprietary and revolutionary fuel cell batteries but now it will be using GM’s battery technology for their pick up truck and big rig trucks?

This is sounding more and more like Theranos from a few years back...
Theranos is was a literal and complete scam though.
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  #50  
Old Posted Sep 13, 2020, 7:11 PM
muertecaza muertecaza is offline
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Originally Posted by Obadno View Post
The Nikola thing is bunk, GM and euro logistics companies wild not sign contracts with nikola if the technology was unproven
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Originally Posted by Obadno View Post
Theranos is was a literal and complete scam though.
Not saying Nikola is Theranos, but Theranos had contracts with big national retailers like Walgreens before the house of cards came crumbling down.
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  #51  
Old Posted Sep 14, 2020, 4:18 PM
Mr.RE Mr.RE is offline
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In the private equity, capital raise arena it is a generally known fact to those that have experience with it have requirements as part of their Due Diligence, research to receive a Demo or proof-of-concept presentation before finalizations of the funding process. Theranos is an example of what could go wrong but since then there are protocols to avoid that scenario. I don't think many US and Foreign based investors (not to mention VectorIQ, the SPAC company) would forego this step over the past few years if the technology didn't exist. Lots of rumors and speculation but these people aren't easily fooled or tricked to invest billions...
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  #52  
Old Posted Sep 21, 2020, 3:42 PM
ASU Diablo ASU Diablo is offline
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Nikola founder resigns amid controversy over company's technology

This story just keeps getting weirder and weirder. Where there's smoke, there's fire.

Quote:
Trevor Milton, the founder and executive chairman of zero-emissions truck manufacturer Nikola Corp., whose character had been called into question after a recent report alleged that he had lied about the company’s technology capabilities, announced Sunday night that he would resign from his post.

In a statement posted on Twitter, Milton said he asked the company’s board of directors to allow him to step aside from his roles as executive chairman and member of the board of directors, effective Sept. 20.

“I know many of you have put a lot of your energy into supporting Nikola, and I hope you follow me in continuing to do so,” his statement read in part. “I will be cheering from the sidelines with you now. The company is incredible, the mission too important and the future ready and willing for your support.”

Milton said he will continue to defend himself against “the false allegations leveled against me by outside detractors.”

The U.S. Justice Department is reportedly looking into claims that the Phoenix-based company allegedly misled investors by exaggerating the capabilities of its technology. That move came after short-seller Hindenburg Research on Sept. 11 called Nikola's technology nonfunctional and accused Milton of deception when promoting and making claims about the company’s capabilities and performance. Hindenburg Research's report alleges the reveal of the Nikola One vehicle in 2016 was “a total farce” and the truck as well as the hydrogen technology claimed to power it was unfinished and not functional at the time of the reveal.

The report also alleged that Milton lied about the company's technology for years. Nikola has repeatedly refuted the claims.

Nikola's shares, which have risen and fallen sharply in the past week, slumped on the news in early trading on Monday. The shares lost $5.47, or 16%, falling to $28.72 in heavy trading. Track the stock here.

Stephen Girsky, former vice chairman of General Motors Co. and a member of Nikola’s Board, has been appointed chairman of the board, effective immediately, Nikola announced.

“On behalf of the board, I want to thank Trevor for his visionary leadership and significant contributions to Nikola since its founding," Girsky said in a statement. "Trevor saw the possibility of creating an end-to-end zero-emission transportation system when the industry was still in its nascent stages and took action to build the Nikola of today, with world-class partnerships, groundbreaking R&D, and a revolutionary business model. I know I speak for everyone at Nikola in our gratitude and in wishing him all the best.”

Giving up stock units
Mark Russell, who was appointed CEO in June, and the company's CFO, Kim Brady, will remain in those roles.

Milton agreed to relinquish all of the 4,859,000 performance-based stock units he was granted on Aug. 21, 2020 and any right to enter into a two-year consulting agreement with an annual fee of $10 million, according to a regulatory filing. Instead, as part of his separation agreement, Milton will be available to the board for any unpaid consulting services on an ad hoc basis until Dec. 31.

Milton currently holds about 91.6 million shares, representing 24% of the company's outstanding shares.

RECOMMENDED
The company agreed to grant 1,069,000 time-vested restricted stock units vesting on June 3, 2023, to more than 300 employees of the company designated by Milton, subject to the employees’ continued employment at the company through the vesting date. The agreement also provides for the accelerated vesting and settlement of 600,000 restricted stock units granted to Milton on Aug. 21.

Milton has agreed to a three-year "standstill provision" in which he agreed not to acquire ownership (beneficial or otherwise) of more than 19 million company shares, or seek to rejoin the board. He agreed to vote his shares in favor of the directors put forth by the company at any shareholder meeting and vote against the election of any nominee for director not recommended by the board.
https://www.bizjournals.com/phoenix/...ntroversy.html
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  #53  
Old Posted Sep 21, 2020, 6:41 PM
phoenixwillrise phoenixwillrise is offline
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Not so fast my friends on renaming of this thread

Appears Trevor Martin might have some major problems and as things unwrap it is possible that plant never gets built. I say if the plant gets canceled we change the name back to, 'Projects That Never Happened In The Casa Grande Area'. Just sayin!!

Also proud of my play of buying some of that stock early and bailing quick before these sad state of affairs ever happened.
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  #54  
Old Posted Sep 21, 2020, 6:53 PM
ASU Diablo ASU Diablo is offline
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wtf cares what the thread is called?

It's like we are actively rooting for this Company or project to fail. It may be Pinal County but this hurts, not helps, our state and overall economy.
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  #55  
Old Posted Sep 21, 2020, 7:27 PM
xymox xymox is offline
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Originally Posted by ASU Diablo View Post
wtf cares what the thread is called?

It's like we are actively rooting for this Company or project to fail. It may be Pinal County but this hurts, not helps, our state and overall economy.
Eh - GM and Bosch re-affirmed their support for Nikola today. I’d say if anything this means that Nikola winds up becoming GM’s new EV brand. Doesn’t mean that it never gets built. But time will tell.
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  #56  
Old Posted Sep 21, 2020, 9:47 PM
phoenixwillrise phoenixwillrise is offline
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Lighten Up!!1

Quote:
Originally Posted by ASU Diablo View Post
wtf cares what the thread is called?

It's like we are actively rooting for this Company or project to fail. It may be Pinal County but this hurts, not helps, our state and overall economy.
The intent of the original thread was to point out how uncanny it has been in that area with grandiose projects that never happened. Lighten the hell up!!
Nobody is cheering against AZ Development!
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  #57  
Old Posted Sep 21, 2020, 10:15 PM
Obadno Obadno is offline
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I think he was told to step down because of his unseemly public freak out.

His behavior on social media was as damaging as the accusations.
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  #58  
Old Posted Nov 6, 2020, 5:47 PM
Obadno Obadno is offline
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Check out this picture of the LUCID factory, Didn't realize how much Progress it had made:

https://www.bizjournals.com/phoenix/...ing-times.html
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  #59  
Old Posted Nov 8, 2020, 9:13 PM
jermykermy jermykermy is offline
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Was pretty surprised myself with the progress coming along with Lucid without any delay. Few family members now work for the company with a couple of them flying back and forth to Cali for training.
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  #60  
Old Posted Nov 9, 2020, 10:37 AM
Code5 Code5 is offline
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Originally Posted by Obadno View Post
Check out this picture of the LUCID factory, Didn't realize how much Progress it had made:

https://www.bizjournals.com/phoenix/...ing-times.html
Fascinating article! So many companies coming here. I personally think Elon f*cked up not bringing Tesla here to Arizona. Even though they're apparently garbage cars. There's plenty of land to take advantage of out here.
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