Controversy has started to swirl around Steve Girsky, a former GM executive who was partially responsible for taking Nikola public. Girsky orchestrated Nikola’s reverse merger through a blank-check company he operated, VectoIQ.
- In an August 2 webcast of Autoline This Week, Girsky said VectoIQ showed up with an “army” of people to conduct due diligence on Nikola and said he put his reputation on the line with the deal.
- GM CEO Mary Barra also stated the automaker conducted “appropriate diligence” on the deal.
- Nikola is now concurrently being investigated by both the Department of Justice and the Securities and Exchange Commission after a short seller, Hindenburg Research, issued a report alleging fraud at the startup.
- Before starting the VectoIQ blank check company, Girsky served as a vice chairman for GM, overseeing global corporate strategy and new business development.
- He leveraged his connections at GM to connect Nikola with the automaker, which last week struck a deal to use GM’s Ultium technology.