Hyperdrive
Nikola Plunges After Battery Fires Spur Recall, Sales Halt
- The manufacturer will call back 209 of its Tre trucks
- Customers are advised to park outside until a fix is ready
A Nikola Corp. truck at the IAA Transportation show in Hanover.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Nikola Corp. shares plummeted after the manufacturer announced it will recall trucks and temporarily stop sales after several battery fires.
The company will call back roughly 209 of its Tre trucks after a third-party investigator found a coolant leak was likely behind a blaze at the company’s Phoenix headquarters in June. While Nikola said its vehicles can remain in operation, it advised customers and dealers to park outside until a fix is ready in the coming weeks.