FreedomWorks senior economist Steve Moore discusses President Biden’s pricey electrical car push on ‘The Backside Line.’
Lower than a 12 months after taking the job, electrical truckmaker Nikola stated on Friday that chief govt Michael Lohscheller will step down on the finish of the month.
Lohscheller might be changed by Stephen Girsky, who’s presently the corporate’s chairman. He might be Nikola’s fourth CEO in as a few years. Lohscheller’s determination to step down from the place is due to a household well being matter in Europe.
Stephen “Steve” Girsky, vice chairman of Basic Motors Co., gestures throughout a joint information convention with PSA Peugeot Citroën in Brussels, Belgium, on Thursday, January 24, 2013. (Jock Fistick/Bloomberg through Getty Photographs / Getty Photographs)
Though Lohscheller will return to Europe, he’ll stay in an advisory capability by the top of September.
VOLKSWAGEN GROWING MARKET SHARE IN CHINA THROUGH PARTNERSHIPS WITH XPENG, SAIC
Shares of Nikola fell greater than 14% in noon buying and selling.
Individually, Nikola reported a narrower second-quarter loss as decrease manufacturing of its Tre battery-electric vans within the April-June interval helped maintain prices in examine.
Nikola has been burning by money to ramp up manufacturing of its vans.
Michael Lohscheller, president of Nikola Corp., in the course of the unveiling of the Nikola Tre FCEV truck on the IAA Transportation present in Hanover, Germany, on Monday, September 19, 2022. (Krisztian Bocsi/Bloomberg through Getty Photographs / Getty Photographs)
US REGULATORS INVESTIGATE 280K TESLA MODELS FOR STEERING ISSUE: ‘SERIOUS SAFETY HAZARD’
The electrical car maker introduced Tuesday that it received a further $16.3 million grant to help seven hydrogen refueling stations underneath its Hyla model.
A Nikola Tre battery-electric heavy-duty truck on the Nikola Corp.-Iveco SpA three way partnership electrical truck plant in Ulm, Germany, on Wednesday, Sept. 15, 2021. (Andreas Gebert/Bloomberg through Getty Photographs / Getty Photographs)
FORD SALES CLIMB IN JULY, EVS STRUGGLE TO GAIN TRACTION
Nikola stated it has now obtained $58.2 million in awards to construct the hydrogen stations in California’s South Coast Air High quality Administration District, the San Diego County Air Air pollution Management District, and Mojave Desert Air High quality Administration District.
CLICK HERE TO READ MORE ON FOX BUSINESS
Reuters contributed to this report.
