Special purpose acquisition company executives who brought Nikola Corp. public now oversee three top roles at the electric truck maker.
Twin SPAC backer ArcLight Capital is investing $50 million in a truck-as-a-service business that handles Class 1-8 vehicles.
Hedge funds and retail investors led the takeoff in transportation SPACs that are barely staying aloft. Guess who gets the better end of that deal?
Nikola’s top five executives are taking $1-a-year salaries with huge stock payouts ahead if they restore lost share value.
As a love affair with electric vehicle companies fades, self-driving truck startups appear to be the new courtship objects of blank check companies.
With recent financing from major fleets, TuSimple eschewed the blank check company frenzy to chart its own course to public trading.
FreightWaves Truck Talk is a weekly newsletter adding perspective, context and commentary to industry news and trends.
In today’s edition of The Daily Dash, congestion and gate restrictions from rail partners hampered J.B. Hunt’s intermodal growth in Q4. Plus, stopping a ransomware attack is not as simple as it sounds, and business-to-business activity is booming.
Autonomous trucking company TuSimple establishes a high-powered executive advisory board; takes equity investments from Werner Enterprises and Schneider.
Here is the first issue of FreightWaves Truck Talk, a weekly newsletter adding perspective, context and commentary to industry news and trends.
Nikola is recasting its board of directors to make crisis management and business expertise available to management as the electric truck startup seeks to regain credibility lost after a stratospheric beginning as a public company.
Nikola Corp. founder Trevor Milton can sell his 92 million shares on Monday, creating a glut of stock that could drive the already volatile share price lower.
Nikola Corp. appoints a veteran financial executive to its board of directors, replacing a retiring board member with close ties to departed founder Trevor Milton.
A week after renewing confidence in embattled Nikola Corp. and indicating its deal to manufacture the startup’s electric pickup truck was on track, General Motors has dropped its supportive language.
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.
Nikola founder Trevor Milton is out as executive chairman of the electric truck startup, the latest fallout from a brutal report by a short seller accusing him of lying about the company’s technology.
General Motors Co. (NYSE: GM) will become an 11% owner of electric truck startup Nikola Motors Corp. (NASDAQ: NKLA) and build the battery-electric Badger pickup as well as providing the fuel cells for Nikola’s Class 7 and 8 full-size trucks, the companies said Tuesday. GM, which plans its own electric pickup truck, also recently invested […]
Startup electric truck maker Lordstown Motors takes trendy reverse merger route to public ownership, and a $1.6 billion valuation.
Owners of low-priced warrants for new shares and pre-merger discount buyers registered to cash out of electric truck startup Nikola leading to an after hours selloff on Friday, July 17.
High-flying Nikola Corp. (NASDAQ: NKLA) came back to earth Thursday as early investors in the electric truck startup sold discounted shares at a handsome profit. With lockup provisions lifted, investors in a private investment in public equity (PIPE) with VectoIQ were allowed to sell most of the 53.3 million shares purchased for $10 each before […]
Battery electric and fuel cell startup Nikola Corp., which surprised the trucking industry by having a “blank check company” back its bid to go public, expects its shares to begin trading under its own name on the NASDAQ later this week.
With a June 2 merger vote that would make fuel cell electric truck maker Nikola a public entity, the company’s book value has quadrupled to $12 billion in the last week.
Nikola Corp. filled VectoIQ’s $230 million public shell company after former Wall Street analyst and General Motors executive Steve Girsky shopped more than 100 smart transportation companies and signed 75 nondisclosure agreements and six letters of intent.
By providing leases that include hydrogen and maintenance for its fuel cell electric trucks for seven years, Nikola projects it will generate $3 billion in revenue by 2024.
