Promises are only binding on those who believe in them, and that’s Nikola’s problem. After igniting Wall Street, then falling heavily after accusations of fraud, the manufacturer of heavy hydrogen vehicles is struggling to overcome a mistrust that seems permanently installed. Latest episode to date: the intention displayed by the South Korean Hanwha to liquidate up to 50% of its stake in the company.
Admittedly, the conglomerate, which must in particular provide solar panels to supply the hydrogen refueling stations imagined by Nikola, does not leave the ship. He remains “a strategic and important partner, and continues to play an active role on the Board of Directors.” But this distancing is questioning, especially because it comes three months after a similar announcement from Bosch, another key partner of Nikola. According to Bloomberg, the German equipment maker then reduced its stake from 6.4% to 4.9%.