Trevor Milton, founder and former executive chairman and CEO of Nikola Corp., was issued a full pardon by President Trump.
Rivian Automotive is expanding its commercial electric van sales to all U.S. businesses, a shift in the company’s strategy more than a year after Rivian ended its exclusivity deal with Amazon.
Nikola’s bankruptcy is a reality check for the push toward zero-emission freight. Once hailed as the Tesla of trucking, Nikola’s failure highlights the immense challenges of replacing diesel with electric and hydrogen-powered alternatives. While policymakers and environmental advocates push for green energy solutions, the trucking industry remains bound by the need for reliability, infrastructure, and economic viability. With limited charging and hydrogen refueling networks, high costs, and performance struggles, Nikola’s downfall reinforces a hard truth, diesel isn’t going anywhere anytime soon.
Recent filings paint a stark picture of Nikola’s financial woes, with assets estimated between $500 million and $1 billion against liabilities ranging from $1 billion to $10 billion.
Nikola, a Phoenix-based manufacturer of zero-emissions trucks, announced it will pursue an auction and sale process for its assets as it grapples with ongoing financial difficulties.
A recent Bloomberg report said Nikola is considering a possible sale or partnership as it attempts to raise capital to stay afloat.
Like numerous SPAC-backed transportation startups, Hyzon Motors has run out of money and plans to shut down.
Bankruptcy filings carry a stigma but sometimes the outcomes promise new life. Proterra might be one such story.
The Freudenberg Group makes a lot of different products, from candy coatings to heavy-duty electric truck and bus batteries.
Smart label technology developed by Chorus and Kuehne+Nagel tracks packages by using Bluetooth connectivity and AirTags.
How much influence could a $250 million purchases of 500 electric trucks have on establishing the value of used trucks?
In the quest for sustainability, the transportation sector stands as one of the most significant arenas for change.
DHL is signing up for hydrogen trucks to be used in Illinois.
Nikola lays of 135 workers as it seeks to preserve its financial runway.
Xiaodi Hou was cast as a villain in the decline into irrelevance of autonomous trucking developer TuSimple. He sees it differently.
The conversation around sustainability in the transportation sector is no longer just about reducing emissions — it’s about rethinking the way we transport goods altogether.
The lanes are getting longer for autonomous trucks and the promise of greater profitability is predicted to follow.
Driverless truck developers are looking to third-party validators to back their safety claims.
Nikola Corp. announced that it has hired ousted Forward Air CEO Tom Schmitt to lead its commercial efforts.
As electrification and infrastructure startups mature, banks get interested in lending money to help the best of them grow.
With fuel cell trucks on the road, Nikola is changing the game, but will it be enough to survive?
Kodiak Robotics is delaying commercial on-highway driverless trucks to focus on autonomy in the Permian Basin.
Hyzon is focusing its fuel cell efforts in North America, cutting operations in Europe and Australia as it seeks to survive.
Sitetracker helps companies like ChargePoint automate tasks surrounding getting electric charging points up and running faster.
Nikola releases stats on hydrogen fueling that show savings over diesel and a growing business for fuel cell trucks.
Perpetually troubled electric van maker Workhorse Group may be in worse shape than it appears. Little cash and slack orders are two factors.
A newsier-than-typical Advanced Clean Transportation Expo featured the first appearance by Tesla and a single stage gathering of legacy OEMs.
Fleets have practically no idea what electric trucks will be worth when it is time to trade them, one of the reasons for cautious adoption.
The potential energy and environmental gains from autonomous trucking are laid out in a new white paper from Aurora Innovation.
A startup named for science fiction author Jules Verne is closing in on cryo-compressed hydrogen fuel for greater energy density.
The soap opera that is Nikola Corp. has been renewed for a new season with the company taking aim at convicted founder Trevor Milton.
Bosch has a cloud-based plan for load matching; Nikola’s high-pressure product and problems;, and Cummins’ creative stock buyback via spinoff
A big fine for Lordstown Motors and SuperTruck news carry the week over Work Truck Week and technology and maintenance event.
Natural gas, battery and fuel cell electric vehicles all vie to displace diesel. Which will win? Maybe all of them.
Quiet and zero tailpipe emissions battery-electric trucks are gaining popularity across the industry for parts shipment to assembly plants.
Positive developments in the hydrogen space glossed over some tough underlying issues like sky-high hydrogen prices.
The arcade game Whac-A-Mole describes state-by-state approach to rules of the driverless road while 50-state solution appears far off.
WattEV continues to roll up a lion’s share of federal infrastructure grants as it plots electric charging corridors
Nikola is in no hurry to artificially boost its stock price to ward off its second Nasdaq delisting notice in eight months.
Could electric trucks find a new power source in decommissioned power plants. Zeem Solutions plans to find out.
Hydrogen was a big topic through the mobility and transportation space at the Consumer Electronics Show in Las Vegas.
Nikola is finally putting its fuel cell electric truck in the hands of retail customers like Bill Hall of Coyote Container.
Electric trucks and charging infrastructure should advance this year without some of the growing pains that held them back in 2023.
Nikola CEO Steve Girsky knows the challenges the electric truck maker faces but points to 2024 as the company’s best year.
Nikola will send its fuel cell electric vehicles to FirstElement Fuel hydrogen stations in California, a partial fueling supply solution.
Defense attorneys offered 50 pages of reasons why convicted Nikola founder Trevor Milton should not go to prison. There may be more to say.
Torc Robotics has the autonomous truck nearly ready. Now comes the hard work of making a business from it.
Sweden’s Volvo Group was selected as the winning bidder for the battery and charging assets of bankrupt Proterra Inc.
A review of the state of SPAC-sponsored and other electrification startup shows a less-than-pretty picture.
Nikola will replace battery packs in its electric trucks following several fires. The pack is a high-cost component.
Stack AV founder Bryan Selesky is keeping most of the details of his autonomous trucking startup to himself for now.
Volvo Group had scant interest in producing fuel cell trucks five years ago. Now they play a role in the pursuit of zero-emissions trucking.
Nikola asks customers with electric trucks under recall for potential battery fires to return them to its plant.
A third Nikola battery-electric truck burst into flames inside a lithium supplier’s building, but the company says recalled trucks are still safe to drive.
Ree Automotive tested its Reecorner by-wire technology for months before getting precertification that moves it closer to production.
The governor of California appears to favor supporting autonomous trucking technology over labor objections.
Carey Mendes, a former oil executive leading’s Nikola’s pursuit of a hydrogen distribution network, has resigned.
Proterra customers are sanguine about the electric bus and battery maker’s bankruptcy reorganization. They expect deliveries to continue.
Lightning eMotors has enough parts to build electric vehicles through the end of the year, but it needs new capital soon to stay in business.
Nikola is recalling about 209 Class 8 battery electric trucks following 2 battery fires, but the trucks can stay in service pending a fix.
Moves similar to blackjack tactics describe how cash-poor transportation startups are grasping for new capital.
Electric bus and battery maker Proterra Inc. won’t fight an Aug. 17 delisting from the Nasdaq as it works on a bankruptcy reorganization plan.
Most Volvo and Mack electric trucks built since 2019 will get new batteries because of a fire risk caused by loose material in the batteries.
Could Kodiak leverage some of the work Navistar has in on a redundant chassis for a Class 8 autonomous truck?
J.B. Hunt Transport is helping Nikola reduce its inventory of battery-electric trucks and adding to the order bank for fuel cell models.
Investor confidence coincidentally clashes with an executive’s stock sales at autonomous trucking developer.
A Nikola truck damaged in a June 23 fire at company headquarters reignited, raising questions about a reported battery pack defect.
Seeking clues in TuSimple’s delayed financials; a case for an autonomous trucking slowdown; and Kodiak Robotics’ dual-use approach to autonomy.
Robert Bosch expects $5.3 billion in sales by 2030 from building equipment that makes and uses hydrogen.
Nikola is still short of votes to double its outstanding shares, but Delaware’s governor can give the company what shareholders have not.
Losers among transportation startups are rapidly being defined, It will take longer to determine the winners.
The outcome of Nikola’s bid to double the number of authorized shares in the company could determine its ability to survive.
One of the drawbacks of hydrogen adoption as a transportation fuel is the lack of infrastructure. Guess what? A network of hydrogen fueling already exists.
Nikola coined HYLA as the brand for its hydrogen business, and Biagi Brothers will make early fuel cell truck runs for Anheuser-Busch.
A $240,000 incentive from California plus other subsidies could bring parity between a Nikola fuel cell truck and a diesel rig.
How does nearly three years as a nuclear machinist’s mate in the U.S. Navy prepare someone to be CEO of Wabash?
Daimler Truck CEO Martin Daum has strong opinions on cabovers versus conventional trucks, fuel cells and other issues.
Nikola Corp. losses widened in Q2, but adjusted per share earnings and revenue topped estimates as deliveries rose.
Australia’s Tritium is making a charge in U.S. market with a move into direct current fast charging for electric trucks.
Electric trucks — battery and fuel cells — unsurprisingly overwhelmed the Advanced Clean Transportation Expo.
Truck Tech is a weekly newsletter providing perspective and context on autonomy, electrification and other technologies impacting the fleet ecosystem.
While hydrogen fuel cells offer a promising alternative to ozone-threatening diesel engines, creating an electric-friendly infrastructure will require dedication from government regulators, equipment manufacturers and industry players alike.
President of PGT Trucking said the load-matching trend doesn’t adequately respond to today’s supply chain constraints, driver shortage and polluted environment.
With globally common hoses and hardware, hydrogen fuel cell truck supporters think they have closed the gap with diesel fueling times.
Zach Strickland and Anthony Smith break down the top news of the day on this episode of Freightonomics.
As hydrogen grows as a fuel source for long-haul trucking, Nikola Motor Corp. is finding ways to bring down the cost of manufacturing the fuel.
SPAC acquisitions are cropping up with more frequency, and we can only expect more deals to go through in 2021.
Nikola’s Arizona electric truck plant is going up in phases to allow for fast movement and capital control, said Mark Duchesne, global head of manufacturing at Nikola.
The German automaker wants to put all its time and energy into R&D and building infrastructure that supports the production of EVs, such as plant improvements and equipment upgrades.
Clarendon Capital’s John Larkin talks SPAC with HCAC’s Dan Hennessy during FreightWaves’ FreightTech Venture Summit.
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Andrew, Kevin and Seth talk about the next steps for salvaging Nikola and what to expect for Tesla’s Battery Day. Thanks again to the research contributions from CarrierDirect.
Three class-action lawsuits have been filed against Nikola Corp. and its founder Trevor Milton, since short seller Hindenburg Research published its damaging report about the electric truck startup on Sept. 10.
Late Sunday night, FreightWaves broke the story of Trevor Milton voluntarily stepping down from the Nikola Motor (NASDAQ:NKLA) board. A few hours later, Nikola Motor made the resignation official in a press release: Nikola Corporation (NASDAQ: NKLA) today announced that Trevor Milton approached the Board of Directors and proposed to voluntarily step aside as Executive […]
Sources close to the embattled fuel cell truck manufacturer are reporting that founder Trevor Milton has resigned as executive chairman of Nikola Motor (NASDAQ: NKLA) and has departed the company effective immediately. He will remain as one of the company’s largest shareholders, but will not have a say in how the company is managed going […]
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, short seller Hindenburg Research continued to lob allegations of wrongdoing at Nikola Corp. Plus, OOIDA said it will renew its push for more funds for truck parking when the next Congress convenes, and TFI International expands its […]
You can find every FreightWaves podcast conveniently in one feed via the free FreightCasts channel on freightwaves.com/podcasts, iTunes, Spotify or wherever podcasts are found. Subscribe to FreightCasts and never miss a FreightWaves podcast. The full list of FreightWaves media can be streamed via the FreightWavesTV app available for your smartphone, Apple TV, Roku and Fire […]
