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Summarize this content to 100 words Infamous start-up Nikola has recalled more than 200 electric trucks due to a faulty battery component that may have caused a coolant leak. The company made this decision after an external investigation.In June, a battery malfunction and subsequent overheating caused a fire in a truck parked outside Nikola’s headquarters in Phoenix. The startup assumed that the car was set on fire. However, the firm hired to investigate the incident said it was unlikely.The recalled vehicles will make up about 60% of the trucks produced by Nikola in 2022 – almost all of them shipped to customers. Electric trucks are available from dealers or used by commercial transport companies. The rest of the cars are parked in the startup’s parking lots.The manufacturer said it is filing a recall notice with the National Highway Traffic Safety Administration and is halting sales of electric vehicles. The company is reducing production of battery-powered trucks as it ramps up production of hydrogen fuel cell electric vehicles. The recall will not affect the production of the latter, Nikola assured.Hydrogen trucks have been the main focus of the startup since its founding in 2015. About a year ago, Nikola started making battery electric trucks known as the Tre BEV model. Demand for BEVs has been weak, and small-scale production has been costly for the company, which has struggled in recent months to earn enough cash to start production.In August, Nikola reported a loss for the second quarter of 2023 of $217.8 million, compared to $173 million for the same period in 2022. The startup’s revenue fell from $18.1 million to $15.4 million. The company’s shares continue to fall.Last week, Nikola CEO Michael Loscheller was replaced by Steve Girsky. The new chairman of the startup previously served as the CEO of General Motors and also chaired the board of Nikola.Nikola security and engineers also discovered a coolant leak in a battery-powered truck parked at the startup’s plant in Coolidge, Arizona. The company reported that specialists are working on eliminating the problem.Last fall, Nikola founder Trevor Milton was found guilty of deceiving investors about the company’s technical achievements. He was also charged with securities fraud and wire fraud. The businessman faces up to 20 years in prison, Milton will be sentenced in September this year
Startup Nikola has recalled more than 200 electric trucks due to leaking coolant
Infamous start-up Nikola has recalled more than 200 electric trucks due to a faulty battery component that may have caused a coolant leak. The company made this decision after an external investigation.
In June, a battery malfunction and subsequent overheating caused a fire in a truck parked outside Nikola’s headquarters in Phoenix. The startup assumed that the car was set on fire. However, the firm hired to investigate the incident said it was unlikely.
The recalled vehicles will make up about 60% of the trucks produced by Nikola in 2022 – almost all of them shipped to customers. Electric trucks are available from dealers or used by commercial transport companies. The rest of the cars are parked in the startup’s parking lots.
The manufacturer said it is filing a recall notice with the National Highway Traffic Safety Administration and is halting sales of electric vehicles. The company is reducing production of battery-powered trucks as it ramps up production of hydrogen fuel cell electric vehicles. The recall will not affect the production of the latter, Nikola assured.
Hydrogen trucks have been the main focus of the startup since its founding in 2015. About a year ago, Nikola started making battery electric trucks known as the Tre BEV model. Demand for BEVs has been weak, and small-scale production has been costly for the company, which has struggled in recent months to earn enough cash to start production.
In August, Nikola reported a loss for the second quarter of 2023 of $217.8 million, compared to $173 million for the same period in 2022. The startup’s revenue fell from $18.1 million to $15.4 million. The company’s shares continue to fall.
Last week, Nikola CEO Michael Loscheller was replaced by Steve Girsky. The new chairman of the startup previously served as the CEO of General Motors and also chaired the board of Nikola.
Nikola security and engineers also discovered a coolant leak in a battery-powered truck parked at the startup’s plant in Coolidge, Arizona. The company reported that specialists are working on eliminating the problem.
Last fall, Nikola founder Trevor Milton was found guilty of deceiving investors about the company’s technical achievements. He was also charged with securities fraud and wire fraud. The businessman faces up to 20 years in prison, Milton will be sentenced in September this year
