When Nikola Motor Company founder Trevor Milton unveiled a prototype of the Nikola One truck in December 2016, he portrayed it as fully functional.
"We will have a chain on the seats to prevent people from coming in just for the safety. I don't want someone to end up doing something and driving this truck off the stage," Milton said. "This thing fully functions and works, which is really incredible."
In January 2018, Nikola posted a video to YouTube and other social channels called "Nikola One Electric Semi Truck in Motion." It showed the Nikola One truck moving rapidly along a two-lane desert highway.
But last week, the short-selling investment firm Hindenburg Research published a bombshell report claiming that the Nikola One wasn't close to being fully functional in December 2016. Indeed, Hindenburg published a 2017 text message exchange in which a Nikola employee stated that the company didn't resume work on the truck in the months after the show.
Even more incredible, Hindenburg reported that the truck in the "Nikola One in motion" video wasn't moving under its own power. Rather, Nikola had towed the truck to the top of a shallow hill and let it roll down. The company allegedly tilted the camera to make it look like the truck was traveling under its own power on a level roadway.
Nikola now admits Nikola One didnt work
On Monday morning, Nikola sent out a lengthy press release titled "Nikola Sets the Record Straight on False and Misleading Short Seller Report." While the statement nitpicks a number of claims in the Hindenburg report, it tacitly concedes Hindenburg's main claim about the Nikola One. Nikola now admits that the Nikola One prototype wasn't functional in December 2016 and still wasn't functional when the company released the "in motion" video 13 months later.
Nikola claims that the gearbox, batteries, inverters, power steering, and some other components of the truck were functional at the time of the December 2016 show. But Nikola doesn't claim that the truck had a working hydrogen fuel cell or motors to drive the wheels—the two key components Hindenburg stated were missing from the truck in December 2016.
"Nikola never stated its truck was driving under its own propulsion in the video"
And Nikola now admits that it never got the truck to fully function. "As Nikola pivoted to the next generation of trucks, it ultimately decided not to invest additional resources into completing the process to make the Nikola One drive on its own propulsion," Nikola wrote in its Monday statement. Instead, Nikola pivoted to working on its next vehicle, the Nikola Two.
So what about that video of the Nikola One driving across the desert?
"Nikola never stated its truck was driving under its own propulsion in the video," Nikola wrote. "Nikola described this third-party video on the Companys social media as 'In Motion.' It was never described as 'under its own propulsion' or 'powertrain driven.' Nikola investors who invested during this period, in which the Company was privately held, knew the technical capability of the Nikola One at the time of their investment."
Nikola says its time to move on
Nikola's larger point is that the functionality of the Nikola One truck is irrelevant because the company now indisputably has a functional prototype of the truck's successor, the Nikola Two. The hype around the Nikola One helped Nikola raise funds that it then used to pay more experienced companies, including Bosch and Iveco, to help it design and build its subsequent vehicles. This strategy culminated with last week's Read More – Source
Apple shares drop on iPhone 13 production fears
bbc– Apple’s shares dropped on Tuesday following reports it could slash its iPhone 13 production targets due to the ongoing global computer chip shortage.
The electronic giant had expected to make 90 million iPhones in the last quarter of 2021, reported Bloomberg.
However, Apple was now having to tell its partners that the total will be lower by as many as 10 million units, sources told the business magazine.
Apple shares fell 1.2% in after-hours trading on the news.
Semiconductor manufacturers Broadcom and Texas Instruments were also down 1%, as sources said they were struggling to deliver enough chips to Apple in time.
The BBC has approached Apple, Broadcom and Texas Instruments for comment.
In September, Apple launched four new iPhone 13 models: iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max. Pre-orders started on 17 September and started shipping on 24 September.
Widespread chip shortage
Millions of products across multiple industries today rely on computer chips to run and semiconductor makers’ plants are currently working flat-out to meet demand.
Smartphone makers like Apple – some of the biggest chip purchasers in the world – have been severely impacted, but also other sectors like the car industry and the makers of video game consoles.
In July, Apple chief executive Tim Cook warned investors that the semiconductor shortage could affect sales of the iPhone and the iPad.
Investment firm Wedbush estimates that Apple will be running a shortage of more than five million iPhone 13 units for the holiday season, if consumer demand continues to keep pace with the number of iPhones being shipped for the rest of this year.
However, Wedbush analysts Daniel Ives and John Katsingris stressed that the chip shortage was a “not a worry” as they expected the smartphones to be available in the early part of 2022.
“Taking a step back, 5 million to 10 million units moving out of the December quarter into the March quarter due to well-understood supply chain issues is not a worry for us and ultimately speaks to a stronger demand trajectory than Wall Street had been anticipating,” they said.
“We view today’s news as nothing more than a speed bump on a multi-year supercycle iPhone 12/13 that continues to play out.”
Their views are shared by several other analysts, who have forecast that the new iPhone 13 models will have a strong sales year as consumers look to upgrade devices for 5G networks.
Twitter Blue subscription service launches in Australia and Canada
Twitter is launching its new subscription service, Twitter Blue, in Australia and Canada on Thursday.
The paid-for extra service will add features such as an “undo tweet” button, bookmarks, and a reader mode, Twitter said.
The limited launch is designed to “gain a deeper understanding” of what customers are looking for.
But the company also said the free-to-use version of the platform would also remain.
“We’ve heard from the people that use Twitter a lot, and we mean a lot, that we don’t always build power features that meet their needs,” the company said in a statement.
“We took this feedback to heart, and are developing and iterating upon a solution that will give the people who use Twitter the most what they are looking for: access to exclusive features and perks that will take their experience on Twitter to the next level.”
Twitter said the new subscription was not designed to undermine the free experience, but to offer “enhanced and complementary” features “for those who want it”.
It will cost $3.49 in Canadian dollars and $4.49 in Australian dollars per month, Twitter said.
No date has been announced for other countries, but previous listings in mobile app stores have suggested it will eventually cost $2.99 in the US and £2.49 in the UK.
Twitter said subscribers will get “perks” – giving examples such as customisable app icons for phone home screens and what it calls “fun colour themes” for the app.
But they will also have access to a “dedicated” customer support, the company says.
The additional features that Twitter says were inspired by user requests include:
- Bookmark folders, designed to help users organise saved tweets more easily
- Undo tweet, which will let users set a timer of up to 30 seconds after posting before it appears publicly – to allow quick correction of obvious mistakes
- Reader mode, which turns long threads of tweets into easier-to-read text
“We will be listening to feedback and building out even more features and perks for our subscribers over time,” it said.
It does not, however, include verification in the form of a “blue tick” on a user profile, which cannot be bought.
Twitter recently re-opened its verification applications for the fist time in years, but was forced to shutter the programme for a few days after just a week of accepting them, because it was inundated with requests.
Twitter made no secret of plans to charge its top users a small fee for some extra perks – but it’s only dipping its wing in the water for now.
The much-asked-for undo tweet button is undoubtedly top of the list, for all of us who’ve ever had a screamer of a typo, or – even worse – accidentally tweeted something we meant to search for.
But other features are squarely targeted at the Twitterati elite.
When Twitter bought web reader firm Scroll in May, it made a big deal about Twitter being for news and discussion. Bookmarks and the reader feature for long threads are firmly targeted there.
And for good reason.
Twitter’s growth in active users has slowed in recent years – a potential problem for any social network, where perceived value is often based on numbers. Twitter has never had the users that Facebook has – it boasts hundreds of millions, but not billions.
But many of its biggest users are media personalities, politicians, and business leaders – the type of people for whom a small monthly fee might not be too much to ask.
This is new territory. Unfounded rumours that Facebook might one day ask for a fee have led to digital panic in the past – so Twitter’s two-country opener is a test to see if the idea will fly.
Read from source: https://www.bbc.com/news/technology-57348456
Flubot: Warning over major Android ‘package delivery’ scam
A text-message scam that infects Android phones is spreading across the UK, experts have warned.
The message – which pretends to be from a package delivery firm, prompts users to install a tracking app – but is actually a malicious piece of spyware.
Called Flubot, it can take over devices and spy on phones to gather sensitive data, including online banking details.
Network operator Vodafone said millions of the text messages were already being sent, across all networks.
“We believe this current wave of Flubot malware SMS attacks will gain serious traction very quickly, and it’s something that needs awareness to stop the spread,” a spokesman said.
Customers should “be especially vigilant with this particular piece of malware”, he said, and be very careful about clicking on any links in a text message.
The malware also has the ability to send more text messages to an infected user’s contacts, helping it spread.
“The seriousness of these malicious text messages is underlined by Vodafone making the decision to alert its customers,” said Ben Wood, chief analyst at CCS Insight.
“This has the potential to become a denial-of-service attack on mobile networks, given the clear risk that a rogue application can be installed on users’ smartphones and start spewing out endless text messages.
“The broader risk for users is a loss of highly sensitive personal data from their phones,” he added.
While text message scams claiming to be about a package delivery firm are common, they have mostly focused on phishing – trying to trick the user into filling in a form with bank details and other information.
This newest wave differs because it tries to install malicious software on the phone itself – and because of the scale of its spread.
One version of the scam reported online pretends to be a text message from DHL, with a link to a website for parcel tracking.
If someone using an Android phone clicks on the link, they will be taken to a page “explaining” how to install the parcel tracking app using something called an APK.
APK files are a way of installing Android apps outside of the secure Google Play store. By default, such applications will be blocked for security reasons, but the scam page includes instructions on how to allow the installation.
That can be confusing, as there are some niche genuine cases for installing those kind of apps – such as downloading the Fortnite video game, which was removed from the official app store amid a major legal row between its owner and Google.
Apple iPhone users are not affected as those phones cannot install Android APKs.
In a blog post detailing the scam, security expert Paul Morrison wrote that he expects the “success rate would be low” due to the hurdles involved.
But he said: “With the number of SMS being sent out, just a 0.1% success rate could be very profitable.”
The Flubot malware has also spread in other countries in recent months – notably Spain, Germany and Poland.
Industry body Mobile UK said it was “pro-actively co-ordinating its response with the National Cyber Security Centre (NCSC) to minimise any potential damage”.
Users who receive a suspicious message should forward it to 7726 to report it, a spokesman said – and then delete the message.
Read from source: https://www.bbc.com/news/technology-56859091
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