Narrower loss
One at a time, Nikola on Friday reported a narrower second-quarter loss as decrease manufacturing of its Tre battery-electric vehicles within the April-June duration helped secure prices in take a look at.
Nikola has been suffering with dwindling money reserves because it burns via money to ramp up manufacturing of its vehicles.
Its buyers on Thursday authorized a suggestion that permits the truckmaker to factor extra stocks to boost budget.
“The company does not need new shares, they need new leadership,” founder, Trevor Milton, stated in a LinkedIn put up in June.
Milton stepped unwell as CEO of the corporate in 2020 next a decrease supplier Hindenburg issued a scathing file that categorized Nikola a “fraud.”
Endmost week, Nikola stated it could liquidate the property of battery maker Romeo Energy, which it obtained lower than a week in the past for $144 million.
Steve Shindler, who has been a board member since 2020, will grant as chairman next Girsky’s appointment, the corporate stated on Friday.
Bloomberg contributed to this file
