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.
Though Lohscheller will return to Europe, he’ll stay in an advisory capability by the top of September.
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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.
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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.
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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.
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Reuters contributed to this report.