Nikola's Q2 Deliveries Surge, Boosting Investor Confidence
Electric vehicle startup Nikola reported a significant increase in second-quarter deliveries, with retail sales of its trucks doubling to 66 and wholesale figures rising to 45. This positive development comes as Nikola faces financial challenges and intense competition in the market. The company's shares rose nearly 3% in morning trading, despite recent news of its decision to liquidate assets of battery maker Romeo Power. Nikola, like other smaller EV firms, has been grappling with cash constraints and supply chain issues, leading to production delays and cost-cutting measures.