Nikola Corporation, a designer and manufacturer of heavy-duty commercial hydrogen-electric and battery-electric trucks, has reported a net loss of $281.4 million for the six months ended June 30, 2024. The company, which started commercial production of its Tre BEV trucks in 2022, faced a voluntary recall due to battery pack thermal events. Nikola has accrued $62.9 million for recall campaign costs, with $22.0 million incurred as of June 30, 2024. The company's ability to continue operations is dependent on raising additional capital, as current financial resources are projected to last only until the fourth quarter of 2024. Nikola's common stock is listed on the Nasdaq Global Select Market under the symbol 'NKLA', with a closing price of $7.80 on August 8, 2024. The company's future success hinges on the trucking market's adoption of FCEV and BEV trucks, the development of hydrogen fueling infrastructure, and the ability to manufacture trucks at scale.

Nikola Corporation, a designer and manufacturer of heavy-duty commercial hydrogen-electric and battery-electric trucks, has reported a net loss of $281.4 million for the six months ended June 30, 2024. The company, which started commercial production of its Tre BEV trucks in 2022, faced a voluntary recall due to battery pack thermal events. Nikola has accrued $62.9 million for recall campaign costs, with $22.0 million incurred as of June 30, 2024. The company's ability to continue operations is dependent on raising additional capital, as current financial resources are projected to last only until the fourth quarter of 2024. Nikola's common stock is listed on the Nasdaq Global Select Market under the symbol 'NKLA', with a closing price of $7.80 on August 8, 2024. The company's future success hinges on the trucking market's adoption of FCEV and BEV trucks, the development of hydrogen fueling infrastructure, and the ability to manufacture trucks at scale.