
Nikola shifts focus to North America as Iveco takes full control of European joint venture.
Nikola is exiting its European joint venture with Iveco Group to focus on North America and hydrogen fuel cell trucks. The company reported a Q1 net loss of $169.1m, with adjusted loss per share of 26 cents. Nikola produced 63 battery-electric trucks and delivered 31 to dealers in the quarter, with 33 sold to end customers. The company will temporarily suspend production of the battery-electric truck while it reconfigures its assembly line to build both the battery-electric and fuel-cell trucks. Nikola currently has orders for a total of 140 fuel-cell trucks for 12 fleet customers.
