What follows is your unusual examination of the status of Nikola, an EV-selling startup whose founder had a lot of trouble with the government but their company is somehow alive and active, and still publicly traded. Nicola, the company reported on Wednesdaysold 66 trucks in Q2 2023, double the number of trucks sold in Q1 2023 of 33 units. The company also said it produced 33 trucks in the second quarter of 2023, which is down from 63 trucks produced in the first quarter of 2023.
Its CEO sounded upbeat in Nikola’s press release:
Michael Lohscheller, CEO of Nikola said: “It is not easy being a pioneer in the field of zero-emissions Class 8 trucks, but we are seeing a significant increase in the number of vehicles. motivation. “We are very proud of our current achievements and the incoming orders for our upcoming hydrogen fuel cell truck. I believe there is no better time to be at Nikola as we move forward together.”
Reutersa business news service that is usually extremely sober, explain the numbers as, “a positive sign for a startup struggling with cash scarcity and stiff competition.” Reuters also noted that Nikola’s stock fell before the market opened, after Nikola revealed that it was liquidating investments in a company called Romeo Power, which Nikola announced last year. that they are investing tens of millions of dollars.
Nikola’s stock rallied when the market opened on Wednesday, and it now has a market cap of about $1 billion, or a fraction of what it’s worth on paper. What’s normal for an ordinary company is sure to last for decades to come.
