A man convicted of fraud appears to have tried to nominate a man accused of violating the Clean Air Act to the board of a zero-emissions truckmaker
For now, the company’s former CEO will remain free on bail as he appeals his initial conviction on charges of fraud
The outspoken CEO was convicted of two counts of wire fraud and one count of securities fraud last year
Nikola’s newly appointed CEO served on GM’s board of directors from 2009 to 2016
Nikola suffered another blow after two more of its trucks caught fire last week, sending its stock spiraling even farther down
The company suggests that the two reported thermal events may have been caused by a coolant leak inside the battery
EV startups are haemorrhaging cash, which has been compounded by Tesla’s multiple price cuts throughout 2023
Almost exactly a month after a fire damaged trucks at Nikola’s Arizona HQ, another fire has been reported, this time emanating from a previously damaged vehicle
Nikola was hoping to use Romeo Power to make its own battery packs from 2024
Nikola says that a vehicle was seen in the vicinity of its Arizona facility shortly before the start of a fire that damaged four of its trucks
Nikola says the job cuts alone will save it more than $50 million annually
The move would it back into compliance with the trade organization and eliminate risk of delisting
The truck maker will have to find a way to raise its share price above one dollar within the next 180 days
As startups looking to make a name in the EV space continue to burn cash and face greater competition from established automakers, investors are getting less optimistic
Nikola reported $169 million in net losses in Q1 2023 and announced that the all-electric Tre truck will be made-to-order from now on
U.S. electric car startups are burning through cash in the face of waning demand
The problem lies with the Bendix Intellipark Tractor Park Valve Module in Nikola’s electric trucks
Fortunately, Nikola was spared from an issue that affected ZF North American brake pedals
