Trevor Milton, founder and former CEO of the now-defunct EV maker Nikola, announced on Tuesday that he has acquired and is leading the jet manufacturer SyberJet.
The news comes just weeks after the SEC dropped its fraud case against Milton, following Trump’s pardon earlier this year.
In a new video posted on LinkedIn, Nikola‘s former chief executive shared that he has purchased SyberJet with “a group of people,” while adding, “I need to work on something to keep my mind sane during all this chaos.”
“The hell I went through for the last five years being indicted for something I didn’t even do,” Milton stated.
Milton, who had been convicted of securities fraud, received a pardon from the US President Donald Trump in March, which overturned a four-year prison sentence imposed in December 2023.
“Now, I get to come back and I get to bring all those skills and I get to transform the aviation industry like I got to do for the transportation industry,” he added.
Milton said “almost everyone now is doing electric semi-trucks” while claiming that Nikola had a crucial role in the early stages of the segment’s electrification.
Stating that SyberJet will follow the same steps, the former CEO announced that he has “brought the brightest minds over” from Nikola.
He further detailed that these include the former chief engineer Kevin Lynk, the former chief technology officer, and other engineers whom Milton said he trusted.
Milton said the plans for SyberJet’s private jets are for them to have advanced tech features, similar to how electric vehicles are managed.
He exemplified with functions such as remote control of the plane, over the air software updates, and remote climate control.
“All this technology is not available on jets. We’re going to be the first ones to have over-the-air updating,” he noted, adding, “We’re building our own avionics.”
Milton stepped down as Nikola‘s CEO in 2020, after allegations from Hindenburg Research that accused him of repeatedly misrepresenting Nikola‘s technological capabilities.
Earlier this year, the Phoenix-based electric and hydrogen truck maker Nikola filed for bankrupcy.
As the company deals with the Chapter 11 plan in a Delaware bankrupcy court, Milton asked for a $69 million indemnification in legal fees against Nikola.
However, the company has stated that Milton’s demand is invalid, as the ex-executive acted in a “grossly negligent, reckless” behaviour during his time at the company.
In August, Milton argued that the bankrupcy plan does not fully reflect the presidential pardon he received.
The filing last month noted that “President Trump expressly decided here that Milton is factually innocent, the pardon did, contrary to the debtors’ assertions, wipe the slate clean.”
