FRANKFURT, Germany—Shares in electric and hydrogen-powered truck startup Nikola plunged on Sept. 21 after the company’s founder resigned amid allegations of fraud—just two weeks after signing a $2 billion partnership with General Motors.
The company said late on Sept. 20 that Trevor Milton resigned and the departing executive chairman said he would defend himself against accusations that the company made false claims about its vehicles, allegations Nikola rejects.
