compared to USD (598.4) million in Q1 2024.      •    Lucid ended the first quarter with approximately USD 5.76 billion in total liquidity, and expects to produce approximately 20,000 vehicles in 2025. During Q1, Lucid acquired select facilities and assets in Arizona previously belonging to Nikola Corp., expanding possibilities for manufacturing, warehousing, testing, and development. (Lucid releases on May 6, 2025) 1 / 2...

News  Updated at: 2025/05/08

Lucid to acquire Nikola’s plant, development center, hire 300 employees On April 11, the Lucid Group announced it has reached an agreement to acquire facilities and assets in Arizona previously belonging to Nikola Corp., subject to approval by the U.S. Bankruptcy Court for the District of Delaware.The transaction does not include the acquisition of Nikola's business, customer base, or hydrogen fuel cell electric truck technology. Lucid plans to...

News  Updated at: 2025/04/12

Convicted Nikola founder Trevor Milton pardoned by President Trump On March 28, the White House confirmed that Nikola Motor founder Trevor Milton has been given a full pardon by U.S. President Donald Trump. When asked by a reporter why he pardoned Milton, Trump responded “They say the thing that he did wrong was he was one of the first people that supported a gentleman named Donald Trump for president”, and that New York prosecutors were a ...

News  Updated at: 2025/03/29

Nikola announces intent to delist from Nasdaq, deregister with SEC On March 24, Nikola Corp. announced its intention to file a Form 25 Notification of Delisting with the Securities and Exchange Commission (SEC) on or about April 3, 2025, which will remove its securities from listing and registration on Nasdaq.  Nasdaq previously suspended the trading of Nikola’s common stock at the opening of business on February 26, 2025 and notified Nikola t...

News  Updated at: 2025/03/26

l cash spend “We’ve recently reduced our expenses even further and are continuing our focus on growing our sales and customer base across America. We’ve also recently furthered our efforts around U.S. battery production capabilities with the additional purchase of battery line equipment from Nikola Corporation, advancing our commitment to U.S. battery assembly and production,” said Mullen CEO and chairman David Michery. The company annou...

News  Updated at: 2025/02/21

Nikola begins voluntary Chapter 11 sale process in bankruptcy court On February 19, Nikola Corp. announced that the company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola has also filed a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code. Nikola filed a nu...

News  Updated at: 2025/02/20

Nikola nears bankruptcy in U.S. Nikola Corp. is nearing a bankruptcy filing, according to people familiar with the matter. Arizona-based Nikola has recently been working with its law firm Pillsbury Winthrop Shaw Pittman to explore options that could include a sale or restructuring of the company in bankruptcy, the people said. A Nikola representative has stated that the company is still assessing its financial position and liquidity needs, also n...

News  Updated at: 2025/02/11

Mullen purchases additional Nikola assets for battery production in California On January 30, Mullen Automotive announced the additional purchase of battery line equipment from Nikola Corp. for its own battery operations in Fullerton, California, to begin production in the second half of 2025 of next-generation battery packs and modules, and advanced solid-state polymers.  Recently purchased Nikola assets include:   •    A high-volume stan...

News  Updated at: 2025/02/08

Nikola seeking sale or partnership as bankruptcy looms On January 23, reports appeared regarding Nikola Corp. seeking partnerships or sale of parts of its business as cash is running out and bankruptcy appears likely. The report comes three months after Nikola warned investors on its Q3 2024 conference call that, with a burn rate of USD 30-40 million per month, its USD 198 million in cash at the end of the quarter would not take it beyond Q1 2025...

News  Updated at: 2025/01/25

Nikola achieves one million in-service miles driven by updated BEV trucks On January 9, Nikola Corp. announced that updated class 8 Nikola battery-electric trucks have now surpassed one million miles of service with dealers and within fleets. Since putting the BEV 2.0 back into service, Nikola has released a total of 94 updated BEVs back to end fleets and dealers to-date through 19 different fleet customers, who have driven these units 1,016,929 ...

News  Updated at: 2025/01/17

olt and 48-volt battery modules. Mullen has invested USD 12 million to date to further battery and pack development and manufacturing, and will invest an additional USD 43 million in support of U.S. production. Mullen investments include strategic acquisitions, including assets from Romeo Power and Nikola for battery pack production, and key infrastructure investments designed to increase speed to market. (Mullen release on December 17, 2024)...

News  Updated at: 2024/12/28

Nikola warns cash to run out in Q1 2025 On October 31, Nikola released its financial results for Q3 2024, which looked positive as its revenue of USD 33 million beat that of Q2 with USD 31 million. However in the earnings call that followed, its CFO Thomas Okray admitted that the company’s existing cash is “sufficient to fund our forecasted operating costs and meet our obligations into but not beyond Q1 2025” after burning through USD 162 m...

News  Updated at: 2024/11/08

Nikola Corp. reports record sales of 88 FCEVs in Q3 2024 On October 31, Nikola Corp. reported financial results and business updates for the quarter ended September 30, 2024. Nikola produced 83 trucks in Coolidge, Arizona in Q3 and shipped 90, providing revenue of USD 25.2 million, and leading to an operational loss of USD (178.8) million and overall net loss of USD (199.8) million, with adjusted EBITDA of USD (123.6) million. The company deliver...

News  Updated at: 2024/11/02

Nikola Corp. releases inaugural sustainability impact report On October 21, Nikola Corp. released its first-ever sustainability impact report. Nikola's 2023 Sustainability Impact Report covers environmental and social impacts, reporting, and progress towards Nikola's sustainability priorities. "Nikola's commitment to sustainability is not just trendy or a nice-to-have, it's who we are," said Alexia Bednarz, Nikola's Head of Sustainability.  In 2...

News  Updated at: 2024/10/22

Nikola announces record 88 hydrogen fuel cell trucks wholesaled in Q3, 200 in 2024 On October 2, Nikola Corp. announced a record quarter by wholesaling 88 Class 8 Nikola hydrogen fuel cell electric trucks, firmly within truck sales guidance of between 80 and 100 fuel cell units for the quarter. For the first three quarters of 2024, Nikola wholesaled 200 hydrogen fuel cell trucks, and 235 total since the truck went on sale in Q4 of 2023. "This is ...

News  Updated at: 2024/10/03

Nikola sells 20 more Tre FCEV trucks to J.B. Hunt for California operations On September 27, J.B. Hunt Transport Services Inc. announced that it has added 20 Nikola Tre fuel cell electric vehicles (FCEVs) to expand sustainability solutions for customers with freight needs along the U.S. West Coast. Fueling and infrastructure support will be provided by Nikola via its HYLA brand. J.B. Hunt purchased three Nikola FCEVs in 2023 that are currently su...

News  Updated at: 2024/10/01

Nikola former CEO Trevor Milton ordered to pay USD 167.7 million to Nikola On September 9, former Nikola CEO Trevor Milton was ordered by U.S. District Judge Diane Humetewa in Phoenix, Arizona to pay Nikola, the company he founded, USD 167.7 million for false and misdealing statements to the public.  Milton was convicted by jurors in New York in October 2022 on two counts of wire fraud and two counts of securities fraud. Prosecutors then argued ...

News  Updated at: 2024/09/17

Nikola awarded Sourcewell cooperative contract for U.S. public agency purchases Nikola Corporation announced that it was awarded a Sourcewell contract, which grants public agencies in the U.S. easier access to the company’s Class 8 battery-electric and hydrogen fuel-cell zero-emission trucks. Sourcewell is a self-funded government organization that has created a cooperative purchasing program with more than 50,000 participating agencies. Source...

News  Updated at: 2024/08/30

Nikola strengthens California hydrogen infrastructure with new HYLA station On August 12, Nikola Corp. announced that it continues to deliver HYLA refueling solutions to support volume ramp-up for its Class 8 hydrogen fuel cell electric trucks in Southern Calif, with the opening of the latest one off the 5 Freeway in Santa Fe Springs. This strategic location, together with its Ontario and Long Beach stations, now forms a robust network that spans...

News  Updated at: 2024/08/13

Nikola Corp. narrows losses with higher revenues in Q2 2024 On August 9, Nikola Corp. reported revenue of USD 31.32 million in Q2 2024, up 318% from Q1 and an increase of 103.9% from the USD 15.36 million in the same period in 2023, resulting in a net loss of USD (133.67) million and adjusted EBITDA of USD (109.37) million. In Q2, Nikola exceeded the high-end of the guidance range by delivering 72 hydrogen fuel cell electric vehicles (FCEVs) to i...

News  Updated at: 2024/08/10