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Nikola CEO Overhauls Milton’s Vision, Forges New Path

  • Russell, other strategic investors extending share lockup
  • Spotlight on no-nonsense CEO after exit of flamboyant founder
Mark Russell
Mark Russell

Source: Nikola Corp.


Since taking the wheel at Nikola Corp. in September, Mark Russell has been adamant the electric-truck startup doesn’t need a deal with General Motors Co. to survive. Now he has to prove it -- and fast.

On Monday, the two companies unveiled a deal that is, in the eyes of many investors, more akin to a standard supply contract than the strategic partnership Nikola’s founder and ex-Chairman Trevor Milton envisioned when he cut a tentative agreement three months ago -- days before resigning from the company under a cloud.