Hyperdrive
Nikola Falls After Lowering Electric Truck Production Goal
- CFO signals company may seek to raise more capital this year
- Startup provides no update on hydrogen-fuel network partner
Nikola’s Two FCEV Sleeper hydrogen freight hauler.
Source: PR Newswire
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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.
The startup now expects to deliver 100 battery-electric Tre semis to customers this year, down from a previous target of 600. It blamed the global pandemic and supply-chain issues for the drop in planned production volumes.