Nikola (NKLA) has confirmed another round of layoffs as it finds itself in an impressive financial mess. The hydrogen-battery electric truck manufacturer is launching a few last-ditch efforts to avoid bankruptcy.
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Nikola Corporation has posted its Q1 2024 financial report ahead of a call with investors this morning, and the numbers detail a commercial vehicle developer growing amid setbacks that arose last year. Today’s update mainly focuses on hydrogen as Nikola looks to execute deliveries while making good on issues with its BEV trucks.
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Nikola Corp (NKLA) announced it had delivered the first production hydrogen fuel cell truck in North America during the fourth quarter. The company said it also remains on track to deliver the first reworked battery electric trucks back to customers by the end of Q1.
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Another Nikola truck has caught on fire in Phoenix today. It is the fourth fire incident involving Nikola trucks in just a few months – yet the company insists they are safe to drive.
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Shares of Nikola Corp (NKLA) are down by double-digits after the electric truck maker announced its fourth CEO, Michael Lohscheller, is stepping down, effective immediately.
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The Phoenix Fire Department has released its report on the Nikola truck fire that happened at the company’s headquarters last month. Despite Nikola quickly claiming that “foul play” was behind the fire, the fire department says it found “no evidence at all that supports arson.”
The fire department listed the cause of the fire as “undetermined.”
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Nikola Corporation had a significant safety defect in the battery modules used in its electric semi trucks that can result in fires. Yet, the company was quick to claim “foul play” when five trucks caught on fire at its headquarters last week.
Nikola says that it is still investigating the situation.
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Following a hint that this was coming during its Q1 2023 earnings report, Nikola Corporation shared a business update that includes plans for decreased cash usage and a “reorganizing” of its workforce. The EV startup is prioritizing the North American market as it looks to lean down and optimize to ensure the continued production of its zero-emissions trucks.
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Nikola (NKLA) released its first-quarter earnings on Tuesday, announcing it will refocus business operations in North America. After building sales momentum in Q1, Nikola says it will focus on what it knows best, including fuel cell trucks.
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Nikola Corporation shared its Q4 and full year results for 2022 earlier this morning, and although some of its numbers saw significant drops compared to Q3, the American BEV and FCEV automaker has a lot of accolades on its report card and even bigger plans for this coming year. See the full results below.
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Commercial EV manufacturing Nikola Corporation announced it is moving its battery manufacturing operation from its current site in Cypress, California to its production facility in Coolidge, Arizona. With the move, Nikola will create on holistic EV assembly process all taking place under one roof.
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EV automaker Nikola Corporation has announced a new partnership with EV charging network ChargePoint Holdings Inc to expand charging infrastructure for EV fleets across the United States. Through the partnership, Nikola will gain access to ChargePoint’s entire lineup of charging solutions, including management software, and resell those products to its fleet customers.
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Nikola Corporation continues to show growth as an EV startup still recovering from the wrongdoings of its defamed founder, reporting increases Tre BEV deliveries and revenue according to its Q3 2022 report. With expansions to its current US manufacturing facility and additional footprints on the way, Nikola continues to distance itself from its turbulent past.
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Former CEO and founder of Nikola Motors Trevor Milton has been found guilty on three of four counts of fraud in federal court today. Milton was charged with two counts of securities fraud and two counts of wire fraud, pertaining to statements he made while he was acting chairman and CEO of Nikola.
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At IAA Transportation 2022 in Germany today, Nikola Corporation and joint venture partner IVECO Group have announced the opening of sales for a version of the Nikola Tre BEV truck designed specifically for Europe.
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Nikola Motors is emerging from the dark after releasing its Q2 2022 earnings. After a strong performance, Nikola is trending again – this time for the right reasons.
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Commercial EV manufacturer Nikola Corporation announced it has signed an agreement to acquire EV battery developer Romeo Power Inc. Nikola will absorb Romeo’s battery manufacturing facility in Southern California and begin engineering its own EV packs in-house.
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As a zero-emissions vehicle (ZEV), Nikola Corporation’s Tre BEV truck has qualified for yet another state incentive program for fleet customers. The American automaker announced that the battery electric Nikola Tre is eligible for the New York Truck Voucher Incentive Program (NYTVIP). Under the statewide program, the Nikola Tre BEV can now qualify for an incentive up to $185,000… per truck.
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Nikola Corporation shared its Q1 results for 2022 and things are looking up. In addition to a small but noteworthy gross profit, the previously ill-famed commercial EV manufacturer began delivering some BEVs and has purchase orders (POs) or letters of intent (LOIs) for hundreds more. Nikola also continues to make strides in expanding its Arizona manufacturing facility.
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