Nikola Corp Stock Price, News & Analysis

Nikola's Director of Fuel Cell Vehicle Code and Standards, Antonio Ruiz, has been appointed to lead a three-year hydrogen fueling global standardization project for the International Standardization Organization's Technical Committee 197. This initiative aims to develop international standards and fueling protocols to boost the adoption of heavy-duty fuel-cell electric trucks. The committee comprises hydrogen and fuel-cell experts from around the world, focusing on creating protocols for fueling processes, vehicle-station communication, and high-flow fueling standards.

Nikola Corporation (NASDAQ: NKLA) will release its fourth quarter and full year 2020 financial results on February 25, 2021, after market close. The management team will hold a conference call and webcast at 4:30 p.m. ET to discuss the company's financial performance and future outlook.

This event highlights Nikola's commitment to transparency and engagement with investors as it continues to develop its zero-emissions transportation solutions.

TuSimple, a leading self-driving technology company, has established an Executive Advisory Board comprising industry leaders and regulatory experts to enhance its strategy for the autonomous freight market. The board includes notable figures like Jeff Denham and Eric Fuller. Their guidance aims to accelerate the deployment of autonomous trucks, focusing on critical areas such as technology, regulation, and logistics. Cheng Lu, TuSimple's CEO, emphasized the board's vital role in shaping market strategies and public policy efforts to ensure the safe introduction of self-driving trucks.

Nikola Corporation (NASDAQ: NKLA) has secured a competitive electric rate schedule with Arizona Public Service Company (APS) approved by the Arizona Corporation Commission (ACC). This initiative aims to enhance hydrogen-based fueling solutions for zero-emission transportation, particularly along the I-10 corridor between Los Angeles and Phoenix. The lower electric rates are expected to support Nikola's hydrogen production at market-leading prices, thus advancing the hydrogen economy in Arizona and creating job opportunities.

Nikola Corporation (NASDAQ: NKLA) announced the appointment of Mary L. Petrovich as an independent director and the expansion of Pablo Koziner's role to president of the Energy and Commercial Division. Petrovich, an experienced leader in automotive and technology, brings 30 years of expertise, having previously served as executive chairman of AxleTech and in senior roles at Dura Automotive and General Motors. Koziner, who joined Nikola in June 2020, will now lead both energy responsibilities and commercial vehicle business development. These leadership changes aim to enhance Nikola's strategic goals and shareholder value.

Nikola Corporation (NASDAQ: NKLA) has signed a non-binding Memorandum of Understanding (MOU) with General Motors for a global supply agreement involving GM's Hydrotec fuel-cell technology in Nikola's Class 7 and Class 8 semi-trucks. This MOU replaces a previously announced transaction from September 2020. Nikola aims to test production-engineered prototypes by late 2021 and beta prototypes in early 2022. The agreement excludes GM's equity stake in Nikola and the Nikola Badger program. Nikola will refund prior deposits for the Badger.

Labaton Sucharow is investigating Nikola Corporation (NASDAQ:NKLA) for potential securities fraud. The inquiry follows a report by Hindenburg Research, which accused Nikola of being an 'intricate fraud' involving false claims about its technology and misleading investors regarding its order book. The US Department of Justice is reportedly looking into these allegations. As a result, shares of Nikola saw a decline of approximately 9% on September 10, 2020, following the damaging report.

Nikola Corporation (Nasdaq: NKLA) announced its third-quarter 2020 results, showcasing key developments in its zero-emissions vehicle initiatives. The company completed the assembly of its first Nikola Tre BEV prototype at IVECO's facility in Germany, with plans to finish four additional prototypes by year-end. Nikola maintains a robust cash position of $908 million, bolstered by warrant redemptions. Despite facing losses, the company is pushing forward with its manufacturing facility in Coolidge, Arizona, aiming for trial production in mid-2021. Strategic discussions with General Motors are ongoing.

Nikola Corporation (NASDAQ: NKLA) appointed Bruce Smith as an independent director on its board. Smith brings over 30 years of leadership experience in manufacturing, previously serving as CEO of Detroit Manufacturing Systems, with around $1 billion in annual revenue. His expertise encompasses driving business performance and overseeing large-scale operations. Chairman Steve Girsky expressed confidence in Smith's ability to enhance the board's strategic direction. Smith aims to contribute to Nikola's vision of transforming the trucking industry with innovative technologies and infrastructure.