Business, Technology, Fuel, Autonomous

Nikola Loses EVP Heading Fuel Cell Development

The Nikola Two and former executive vice president Jesse Schneider Nikola Two by Nikola Corp.; inset of Jesse Schneider via LinkedIn

Nikola Corp., the troubled hydrogen-powered and battery-electric truck startup, lost a key member of its executive team with the departure of the former head of its fuel cell development program.

Ed Ludlow | Bloomberg News
April 7, 2021
Business, Technology, Equipment

Nikola Partner Hanwha to Sell 50% of Stake in EV Startup

Nikola Nikola's Tre model truck. (Nikola Corp.)

Nikola Corp. is seeing another strategic partner sell down its stake as South Korea’s Hanwha Group signaled its intention to liquidate half of its holdings in the troubled electric truck startup.

Ed Ludlow | Bloomberg News
March 18, 2021
Business, Technology, Equipment, Fuel

Nikola Falls After Paring Output Goals for Debut Electric Trucks

Nikola A Nikola Tre. (Nikola Corp.)

Nikola Corp. shares slipped after the company cut projected output of its first commercial zero-emission vehicles and said it may seek to raise more capital to invest in facilities such as a planned hydrogen-fueling network.

February 26, 2021
Business, Technology, Fuel, Autonomous

Nikola Two Truck Will Run 900 Miles on Tank of Hydrogen, Company Says

Nikola Two by Nikola Corp.

Nikola Corp. announced updates on its zero-emission hydrogen fuel-cell electric commercial truck program as the company vied for attention beside other truck makers in an increasingly crowded space it helped create in 2016 with its introductory announcement.

Roger Gilroy | Senior Reporter
February 23, 2021
Business, Technology, Equipment, Fuel, Autonomous

Nikola Backer Luxor Invests in European Electric Truck Startup

Volta A Volta vehicle. (Volta Trucks)

Nikola Corp. backer Luxor Capital Group LP is investing in European electric truck startup Volta Trucks AB to help the company scale its manufacturing and expand into North America and Asia.

Siddharth Philip | Bloomberg News
January 27, 2021
Business, Technology, Equipment, Fuel

Nikola Loses Electric Truck Order From Republic Services

Signage is displayed outside Nikola Corp. headquarters in Phoenix on Sept. 15. Nikola Corp. headquarters in Phoenix. (Ash Ponders/Bloomberg News)

Nikola Corp. lost an order to supply sanitation heavyweight Republic Services Inc. with 2,500 battery-electric garbage trucks, the latest setback for the troubled startup.

Roger Gilroy | Senior Reporter
December 23, 2020
Business, Technology

Trevor Milton Plans to Remain Top Nikola Owner Post-Lockup Expiration

Signage is displayed outside Nikola Corp. headquarters in Phoenix on Sept. 15. Signage is displayed outside Nikola Corp. headquarters in Phoenix on Sept. 15. (Ash Ponders/Bloomberg News)

Trevor Milton said he remains committed to his Nikola Corp. holding and doesn’t plan to relinquish his position as its largest shareholder even though a restriction has been lifted, addressing speculation that he could divest of his stake in the company he founded and resigned from.

David Welch | Bloomberg News
December 8, 2020
Business, Technology

Nikola CEO Mark Russell Forges New Path

The Nikola Two. (Nikola Motor Co.) The Nikola Two. (Nikola Motor Co.)

Since taking the wheel at Nikola Corp. in September, Mark Russell has been adamant the electric-truck startup doesn’t need a deal with General Motors Co. to survive. Now he has to prove it.

Ed Ludlow and David Welch | Bloomberg News
December 1, 2020
Business, Technology, Fuel

Nikola, GM Sign New Scaled-Back MOU

Nikola Tre Nikola Tre by Nikola Motor Co.

Nikola Corp. and General Motors Co. announced a new nonbinding memorandum of understanding for a global supply agreement that would integrate GM’s Hydrotec fuel cell system for Nikola’s Classes 7-8 vehicles.

Roger Gilroy | Senior Reporter
November 30, 2020
Business, Technology

Nikola’s Losses Widen in Third Quarter

Nikola Badger The Nikola Badger. (Nikola Corp.)

Zero-emission truck developer Nikola Corp. saw losses grow as it spent heavily on research and development and legal fees during the third quarter.

Jerry Hirsch | Contributing Writer
November 10, 2020