Lawyers for the founder of truckmaker Nikola Corp. say he should not face incarceration because his criminal conviction is nothing like what landed Theranos founder Elizabeth Holmes in prison.

Jury selection has begun in the fraud trial of Trevor Milton.

Electric and hydrogen-powered truck startup Nikola has agreed to a $125 million settlement over charges that it defrauded investors after misleading them about its products, technical advances, and financial prospects.

The founder and one-time executive chair of Nikola Corp. was freed on $100 million bail Thursday after pleading not guilty to charges alleging he lied about the electric and hydrogen-powered truck startup, duping novice investors including some financially struggling people looking for income during the pandemic.

General Motors announced its second major electric vehicle partnership in less than a week on Tuesday, this time a $2 billion deal with startup Nikola. In exchange for the 10-year deal, GM will get a $2 billion worth of Nikola's newly-issued common stock that will come three increments through 2025. GM has been under pressure from Wall Street to more quickly monetize its electric vehicle technology, perhaps spinning off its EV unit as a separate company. GM has its own battery electric truck, a GMC Hummer, due to go on sale a year ahead of the Badger. GM also will get supply contracts for batteries and fuel cells and electric vehicle regulatory credits that can be used by GM to comply with fuel economy and pollution standards, or sold to other companies.