Hyperdrive
Nikola Says Electric-Truck Deliveries to Fall Short of Plans
- Automaker’s third-quarter sales, loss are better than expected
- Company says Lohscheller assumes CEO role earlier than planned
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Nikola Corp. said deliveries of its battery-electric trucks will fall short of expectations due to worsening economic conditions, dragging down shares even as quarterly sales and earnings beat Wall Street’s estimates.
The company will hand over fewer than the 300 planned for this year, with deliveries trending below expectations in the final three months, Chief Financial Officer Kim Brady said Thursday on a conference call with analysts. Next year is also shaping up worse than expected, though Nikola declined to offer a specific forecast.