GAO concluded that DOT’s actions on NEVI funds violated the Impoundment Control Act, finding $2.74 billion in electric vehicle infrastructure funds were unlawfully withheld. The decision mandates the Transportation Department must continue funding the National Electric Vehicle Infrastructure …
GAODOTFHWAOMBBiden Administrationbudgetimpoundmentgaoombelectric-vehicles+3 more
The SEC settled fraud charges against Nikola Corporation for $125 million, finding the electric vehicle company made materially false and misleading statements about its products, technical capabilities, and partnerships during its 2020 SPAC merger. Founder Trevor Milton falsely claimed the Nikola …
Securities and Exchange CommissionNikola CorporationTrevor Milton (Founder and Former Executive Chairman)VectoIQ Acquisition Corp (SPAC)spac-fraudelectric-vehiclessec-enforcementmaterial-misrepresentationretail-fraud+2 more