Sign In  |  Register  |  About Livermore  |  Contact Us

Livermore, CA
September 01, 2020 1:25pm
7-Day Forecast | Traffic
  • Search Hotels in Livermore

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

EV maker Nikola CEO Michael Lohscheller stepping down

Electric truck maker Nikola said Friday that CEO Michael Lohscheller will step down and be replaced by Stephen Girsky, the company's chairman, at the end of the month.

Less than a year after taking the job, electric truckmaker Nikola said on Friday that chief executive Michael Lohscheller will step down at the end of the month.

Lohscheller will be replaced by Stephen Girsky, who is currently the company's chairman. He will be Nikola's fourth CEO in as many years. Lohscheller’s decision to step down from the position is because of a family health matter in Europe.

Although Lohscheller will return to Europe, he will remain in an advisory capacity through the end of September.

VOLKSWAGEN GROWING MARKET SHARE IN CHINA THROUGH PARTNERSHIPS WITH XPENG, SAIC

Shares of Nikola fell more than 14% in midday trading.

Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Nikola has been burning through cash to ramp up production of its trucks.

US REGULATORS INVESTIGATE 280K TESLA MODELS FOR STEERING ISSUE: 'SERIOUS SAFETY HAZARD'

The electric vehicle maker announced Tuesday that it won an additional $16.3 million grant to support seven hydrogen refueling stations under its Hyla brand.

FORD SALES CLIMB IN JULY, EVS STRUGGLE TO GAIN TRACTION

Nikola said it has now received $58.2 million in awards to build the hydrogen stations in California’s South Coast Air Quality Management District, the San Diego County Air Pollution Control District, and Mojave Desert Air Quality Management District.

CLICK HERE TO READ MORE ON FOX BUSINESS

Reuters contributed to this report. 

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Livermore.com & California Media Partners, LLC. All rights reserved.