Nikola’s roller coaster week; Tesla hit with another lawsuit: This week in EVs
Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Milestones and management changes at Nikola; Tesla in hot water over “Diversion Team”.
As always, InvestingPro users get EV headlines at lightning speed. Never miss another opportunity to secure an edge for your portfolio.
Electric truck maker Nikola (NASDAQ:NKLA) underwent a hectic week of big share-price movements, beginning with an 18% surge Monday after the company said it had entered a purchase agreement with JB Hunt Transport Services (NASDAQ:JBHT).
According to the agreement, struck via Nikola's EV brand, HYLA, JB Hunt will acquire 13 Nikola zero-emission Class 8 trucks — 10 battery-electric and three hydrogen fuel cell electric trucks — with the first deliveries scheduled for this month.
Shares continued surging after, just two days later, Nikola proudly revealed it had surpassed 200 sales orders for its Class 8 Nikola hydrogen fuel cell electric vehicles, attracting orders from 18 different end customers.
«This remarkable demand for our hydrogen fuel cell electric truck confirms the industry's trend toward sustainable transportation solutions,» said Nikola CEO Michael Lohscheller.
But then, on Friday, the stock erased most of its weekly gains after Nikola said Lohscheller was stepping down immediately due to a family health matter.
Chairman Steve Girsky was appointed to the position, and despite his impressive 30-year experience in the industry, some investors expressed concerns about the stability of Nikola's management team, as this represented the fourth CEO transition in as many years.
Lohscheller will stay on as an advisor until the end of September before he returns to Europe. One of his final
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