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Jim Cramer Gives His 'Optimistic View' on Talks Between GM and Nikola

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Nikola postponed its in-person Nikola World conference due to the coronavirus outbreak and stood by its plan to start sales in late 2021.

"Due to covid-19 audience-size restrictions at Arizona's major venues, we have made the decision to reschedule an in-person Nikola World until we can bring the Nikola community together safely," Nikola said in a statement.

The company maintained in a statement that it "remains committed to achieving" a set of milestones to develop its commercial truck.

"Nikola expects the first batch of five prototypes of the Nikola Tre, a 100% battery-electric truck, will be substantially completed at our joint-venture facility in Ulm, Germany, in the next few weeks," the company said.

"We remain confident in our ability to begin production of the Tre and make it available to customers starting in the fourth quarter of 2021."

Nikola also said it continues to make progress developing its one-million-square-foot manufacturing facility in Coolidge, Ariz., which is scheduled to be completed by mid-2023.

The company has been beset by a series of problems, including allegations by Hindenburg Research that have sparked an investigation by the Securities and Exchange Commission and the Department of Justice; a share-price drop, and the resignation of its founder and former executive chairman, Trevor Milton.

In addition, Nikola's $2 billion deal with General Motors that was slated to close Wednesday stalled after allegations of fraud and sexual abuse surfaced against Milton, CNBC reported.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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