Nikola Motors billionaire CEO Trevor Milton explains why his $3.3 billion company hasn't returned its small business rescue cash
. In the aftermath, came a public backlash.
“There's a difference between a high valuation and having cash,” Brady said in a telephone interview. “We are a pre-revenue company with a lot of expenses… Our burn rate is high.” Despite its high valuation, Nikola has a small staff of about 300 workers, many of them skilled and highly paid engineers, but it doesn’t yet generate substantial revenue revenue.
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