Following a fraud accusation by a short firm and potential probe by the US Securities Exchange Commission (SEC), Nikola founder Trevor Milton is stepping down as executive chairman. “Nikola is truly in my blood and always will be, and the focus should be on the Company and its world-changing mission, not me,” Milton said in a statement (via the Financial Times). “So I made the difficult decision to approach the Board and volunteer to step aside as Executive Chairman.”

Former vice-chairman of General Motors and Nikola board member Stephen Girsky will take his place, the company said. GM recently sealed a billion-dollar deal with Nikola to supply it with batteries, fuel cells and other parts. GM will also build the “Badger” hydrogen-powered pickup truck for Nikola.

As far as charges that the video showing it rolling was faked, Nikola offers this as the best rebuttal it can muster: “Nikola never stated its truck was driving under its own propulsion in the video, although the truck was designed to do just that (as described in previous point). The truck was showcased and filmed by a third party for a commercial. Nikola described this third-party video on the Company’s social media as “In Motion.” It was never described as “under its own propulsion” or “powertrain driven.”

In Nikola’s statement, the company said it plans to cooperate with the SEC on its inquiry, and claimed it has already contacted and briefed the agency. So who’s lying? Nikola claims investors knew what its prototypes were and were not capable of, and is focusing on newer machines that it says can actually move under their own power. However, check out the original Nikola One video that’s still available on YouTube (titled “Nikola One Electric Semi Truck in Motion”) and make your own decision about whether or not that implied the truck was capable of moving on its own.

Our response is out and we are focused on delivering.https://t.co/EPfhgQQC6J

— Trevor Milton (@nikolatrevor) September 14, 2020