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Nikola says damaged truck reignites at its headquarters
  + stars: | 2023-07-24 | by ( ) www.reuters.com   time to read: 1 min
July 23 (Reuters) - An electric truck which was previously damaged reignited at Nikola's (NKLA.O) Phoenix, Arizona headquarters on Sunday afternoon but there were no injuries, the electric-truck maker said in a statement. "At approximately 2 pm today at Nikola HQ, one of the trucks that was previously damaged reignited. This comes after last month's fire when Nikola reported a fire around its headquarters and said it suspects foul play behind the incident that affected multiple trucks but caused no injuries. The damaged trucks were kept at the company's Phoenix site for "safety monitoring and the ongoing investigations." Reporting by Juby Babu and Akash Sriram in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Persons: Nikola, Juby Babu, Akash Sriram, Nivedita Organizations: Nikola, Thomson Locations: Phoenix , Arizona, Bengaluru
Britain's Skupski wins Wimbledon doubles with Koolhof
  + stars: | 2023-07-15 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Tennis - Wimbledon - All England Lawn Tennis and Croquet Club, London, Britain - July 15, 2023 Britain's Neal Skupski and Netherlands' Wesley Koolhof celebrate with their trophies after winning the men's doubles final against Spain's Marcel Granollers and Argentina's Horacio Zeballos... Read moreLONDON, July 15 (Reuters) - Centre Court fans celebrated a home champion as Neal Skupski and Dutch partner Wesley Koolhof won the Wimbledon men's doubles title with a 6-4 6-4 win against Spain-Argentina duo Marcel Granollers and Horacio Zeballos on Saturday. A clash lasting little more than an hour ended with Koolhof holding serve to love. The 33-year-old Skupski, who collapsed to the ground after match point, is the first British man to win the men's doubles at Wimbledon since Jonathan Marray played alongside Frederick Nielson in 2012. Skupski adds the men's doubles crown to the mixed doubles titles he won in 2021 and 2022. It was the second time that Granollers and Zeballos had fallen at the final hurdle at Wimbledon, having been beaten in 2021 by Nikola Mektic and Mate Pavic.
Persons: Britain's Neal Skupski, Wesley Koolhof, Spain's Marcel Granollers, Argentina's Horacio Zeballos, Neal Skupski, Marcel Granollers, Horacio Zeballos, Jonathan Marray, Frederick Nielson, Skupski, Zeballos, Nikola Mektic, Mate Pavic, Martyn Herman, Clare Fallon Organizations: Lawn Tennis, Croquet Club, Court, Wimbledon, Spain, Koolhof, Granollers, Thomson Locations: London, Britain, Netherlands, Argentina
July 14 (Reuters) - Shares of Nikola Corp (NKLA.O) jumped 14% on Friday, a day after a short squeeze sent the electric-truck maker's shares soaring in their busiest trading session on record. The stock surged nearly 61% to a more than four-month high on Thursday after Nikola entered a deal to sell 50 EVs to BayoTech and purchase low-carbon hydrogen from the firm. The short squeeze in Nikola, after short sellers rushed to exit bearish bets due to a rise in the stock's price, led to a record 317 million shares traded on Thursday. For the week, Nikola shares have surged 57%. About 22.7% of Nikola shares were in short position on July 12, according to analytics firm Ortex.
Persons: Nikola Corp, Nikola, Lucas Mantle, Peter Hillerberg, Medha Singh, Shinjini Organizations: Nikola, Vanda Research, Thomson Locations: Bengaluru
The planned investment was one billion euros more than earmarked in its previous investment plan for 2021-2024, the statement added. Bosch expects one in five new trucks weighing six metric tons or more would feature fuel-cell powertrains by 2030, it said. Bosch said production of its fuel cell power module - a fuel cell system generating electricity in vehicles from hydrogen, primarily used in commercial long-distance applications - has begun in its Stuttgart-Feuerbach plant in Germany and in Chongqing, China. Daimler Truck (DTGGe.DE) plans to bring a hydrogen truck to market in the second half of the decade, forming a joint venture with Volvo (VOLVb.ST) to develop the zero-emissions technology. Automaker Stellantis said this year it would begin deliveries in Europe of its first medium-sized vans powered by hydrogen fuel cells by the end of 2021.
Persons: Bosch, Stefan Hartung, Feuerbach, Stellantis, Victoria Waldersee, Ilona Wissenbach, Emelia Sithole Organizations: Bosch, Nikola Corporation, Daimler, Volvo, Volkswagen, Thomson Locations: BERLIN, Stuttgart, Germany, Chongqing, China, American, Europe
Retail investors aren't slowing down in the current market environment. Elon Musk 's Tesla beat Wall Street expectations for vehicle deliveries by about 20,000 units on Monday, with analysts forecasting 445,925. The stock rose about 7% on the news and also lifted peer EV stocks Rivian and Lucid higher. Meanwhile, net retail purchases of Tesla stock soared to $1.2 billion over the past five trading sessions, according to the note. About 13% of the total trading volume for Rivian stock has been retail investors over the past five sessions, the note added.
Persons: that's, Lucas Mantle, Mantle, Elon Musk, Nikola, Tesla Organizations: VandaTrack Weekly, EV Locations: TSLA
Electric heavy-truck maker Nikola will find out later Thursday whether its shareholders have approved its plan to raise money by selling more stock. Nikola first put the plan to its shareholders at its annual meeting in June. While 77% of those who voted were in favor, there weren't enough total shares voted to pass the proposal. This isn't the first time that Nikola has had to adjourn a shareholder meeting to drum up more votes for a proposal to sell new stock. Last year's annual meeting was adjourned three times before Nikola won enough votes to raise its total shares outstanding to 800 million from 600 million.
Persons: Nikola, adjourn Organizations: California Transportation Locations: Delaware, California
Electric truck maker Nikola is still short of winning shareholder approval to issue new stock and has once again adjourned its annual meeting to try to win more support, the company said on Thursday. Nikola had adjourned its June 6 annual meeting until Thursday to try to drum up more support for the proposal. Current law in Delaware, where Nikola is incorporated, requires approval from owners of at least 50% of the company's outstanding shares to pass a share increase proposal. The company is expected to launch the long-awaited hydrogen fuel cell version of its Tre electric semitruck later this month. Nikola will report its second-quarter results before the U.S. markets open on Aug. 4.
Persons: Nikola Locations: Delaware, Delaware's, U.S, Canada
Nikola Production Declines After Fire at Headquarters
  + stars: | 2023-07-05 | by ( Ben Glickman | ) www.wsj.com   time to read: 1 min
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Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/nikola-production-declines-after-fire-at-headquarters-1ea296aa
Persons: Dow Jones
The company said retail sales of its trucks doubled to 66 in the quarter, while wholesale figure rose to 45 from 31. They fell before the bell after the company announced on Monday it would start liquidating assets of Romeo Power less than a year after buying the battery maker. Nikola agreed to buy Romeo Power in August for about $144 million, as it looked to jump-start efforts to make battery packs. EV makers Tesla (TSLA.O) and Rivian (RIVN.O) also beat market estimates for second-quarter deliveries. Nikola, which went public in 2020, produced 33 trucks during the second quarter, compared with 63 trucks in the preceding quarter.
Persons: Nikola, NKLA.O, Romeo, Trevor Milton, Tiyashi Datta, Maju Samuel Organizations: Romeo, Tesla, Thomson Locations: Coolidge , Arizona, North America, Bengaluru
Arrival, Nikola signal more pain for EV startups
  + stars: | 2023-07-03 | by ( ) www.reuters.com   time to read: +2 min
July 3 (Reuters) - Arrival SA will terminate plans to merge with a blank-check firm and Nikola Corp will offload its newly acquired battery unit, the companies said on Monday, amplifying concerns over the struggles electric vehicle (EV) startups face in building scale. Meanwhile, Nikola Corp (NKLA.O) will liquidate the assets of Romeo Power, an EV battery maker it acquired less than a year ago, to energize the business. In contrast, electric vehicle behemoth Tesla (TSLA.O) and California-based Rivian Automotive (RIVN.O) beat market estimates for second-quarter deliveries. Arrival had in April bet that the second reverse merger would release $283 million of cash held in trust before redemptions. The EV startup in May reported a 37% slump in cash and cash equivalent at the end of the first three months of the year, from the preceding quarter.
Persons: Nikola Corp, Romeo Power, Tesla, Van, Akash Sriram, Sriraj Organizations: Nikola Corp, Kensington Capital, Corp, Romeo, EV, CIIG Merger Corp, United Parcel Service, Thomson Locations: British, Kensington, California, Charlotte , North Carolina, Bengaluru
July 3 (Reuters) - Nikola Corp (NKLA.O) will start liquidating the assets of battery maker Romeo Power, the electric truck maker said on Monday, less than a year after buying it. Nikola in August agreed to buy Romeo Power for about $144 million in stock, as it looked to jump-start efforts to make battery packs. "Nikola is discontinuing its operations with Romeo Power and has commenced a proceeding under the California Assignment for the Benefit of Creditors (ABC) statutory scheme," a company spokesperson said in a statement on Monday. In contrast, market leader Tesla (TSLA.O) topped market expectations for second-quarter deliveries, after price cuts and U.S. federal credits helped make its electric vehicles more affordable. Romeo Power is one of the battery suppliers for Nikola's prototype electric trucks along with LG Energy Solution (373220.KS) and Proterra Inc (PTRA.O).
Persons: Nikola Corp, Romeo Power, Nikola, Romeo, Tesla, Power, Nathan Gomes, Akash Sriram, Sriraj Organizations: Nikola, EV, Lordstown Motors, LG Energy, Proterra Inc, Thomson Locations: California, Bengaluru
Shares of Rivian Automotive jumped more than 16% in early trading Monday after the electric vehicle maker beat Wall Street expectations for quarterly deliveries. Rivian on Monday reported 12,640 vehicle deliveries during the second quarter, up 59% from the previous quarter and topping analyst expectations of 11,000 vehicles, according to estimates compiled by FactSet. Rivian produced roughly 23,400 vehicles through the second quarter, including electric delivery vans and consumer models. Rivian's results come a day after EV leader Tesla said it delivered 466,140 vehicles globally during the second quarter, also topping analyst expectations. Shares of embattled EV startups such as Lucid , Nikola and others rose after Tesla and Rivian reported delivery numbers.
Persons: FactSet, Rivian, Tesla, Nikola Organizations: of Manhattan, Rivian Automotive Locations: Meatpacking, New York City
Stan Smith’s 1972 Wimbledon cup sits alongside his 1971 United States Open winner’s prize in a trophy case inside his Hilton Head Island, S.C., home. “Once you’ve won it you always want to win it again.”But in 1973, Smith decided not to play. Instead, he and 80 other players voted to boycott the tournament just before the first matches in support of the player Nikola Pilic. It was when its members banded together, flexed their muscles and walked out on the most prestigious tournament in tennis, with ramifications that are still being felt today. Among them: greater communication between the players and the tournaments, and wider distribution of prize money at all levels of the pro game.
Persons: Stan Smith’s, Smith, , , John Newcombe, Ilie Nastase, you’ve, Nikola Pilic, Pilic, Billie Jean King Organizations: United, Wimbledon, International Lawn Tennis Federation, Davis, Women’s Tennis Association, Association of Tennis Professionals Locations: Yugoslavia
[1/2] A Lordstown Motors sign is seen outside the Lordstown Assembly Plant in Lordstown, Ohio, U.S., June 21, 2021. REUTERS/Rebecca Cook/File PhotoNEW YORK, June 27 (Reuters) - U.S. electric truck manufacturer Lordstown Motors (RIDE.O) filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan's Foxconn (2354.TW). Lordstown contends Foxconn is balking at purchasing additional shares of its stock as promised and misled the EV maker about collaborating on vehicle development plans. Lordstown accused Foxconn in that regulatory filing of engaging in a "pattern of bad faith" that caused "material and irreparable harm" to the company. GM agreed to sell the plant to a newly-formed entity called Lordstown Motors founded by the former top executive at an electric truck maker called Workhorse Group.
Persons: Rebecca Cook, Taiwan's Foxconn, Thomas Hayes, Tesla, Lordstown, Foxconn, Edward Hightower, Donald Trump, Mary Barra, Nikola, Stephen Burns, Burns, Elon Musk's Tesla, Mike Spector, Joseph White, Dietrich Knauth, Ben Blanchard, Sarah Wu, Chavi Mehta, Nick Zieminski, Dhanya Ann Thoppil, David Evans Organizations: REUTERS, Lordstown Motors, Foxconn, Hai Precision Industry, General, Reuters, Endurance, EV, Biden, Detroit, GM, Lordstown, U.S . Justice Department, Ford Motor, Stellantis, Thomson Locations: Lordstown, Lordstown , Ohio, U.S, Ohio, Delaware, Foxconn, United States, Northeast Ohio, New York, Detroit, Taipei, Bengaluru
[1/2] A Lordstown Motors sign is seen outside the Lordstown Assembly Plant in Lordstown, Ohio, U.S., June 21, 2021. REUTERS/Rebecca Cook/File PhotoNEW YORK, June 27 (Reuters) - Lordstown Motors (RIDE.O) filed for bankruptcy protection on Tuesday and put itself up for sale after the U.S. electric truck manufacturer failed to resolve a dispute over a promised investment from Taiwan company Foxconn. Lordstown contends Foxconn is balking at purchasing additional shares of its stock as promised, and misled the EV maker about collaborating on vehicle development plans. Even in May, Lordstown warned it might be forced to file for bankruptcy amid uncertainty over the Foxconn investment. GM agreed to sell the plant to a newly-formed entity called Lordstown Motors founded by the former top executive at an electric truck maker called Workhorse Group.
Persons: Rebecca Cook, Lordstown, Foxconn, Edward Hightower, Donald Trump, Mary Barra, Nikola, Stephen Burns, Burns, Elon Musk’s Tesla, ” Lordstown, Mike Spector, Joseph White, Dietrich Knauth, Nick Zieminski Organizations: REUTERS, Lordstown Motors, U.S, Foxconn, Hai Precision Industry, General, Lordstown, Reuters, Endurance, EV, Biden, Detroit, GM, DiamondPeak Holdings, U.S . Justice Department, Ford Motor, Stellantis, Thomson Locations: Lordstown, Lordstown , Ohio, U.S, Taiwan, Ohio, Delaware, Foxconn, United States, Northeast Ohio, New York, Detroit
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/nikola-suspects-foul-play-in-fire-behind-phoenix-headquarters-58ebcf72
Persons: Dow Jones, nikola
Companies Nikola Corp FollowJune 23 (Reuters) - Electric-truck maker Nikola (NKLA.O) on Friday reported a fire around its Phoenix, Arizona headquarters and said it suspects foul play behind the incident that affected multiple trucks but caused no injuries, sending its shares down 7%. "Foul play is suspected as a vehicle was seen in the area of the affected trucks just prior to the incident and an investigation is underway," the company said in a tweet. loadingIt did not immediately respond to a request on the number of affected trucks. loadingNikola made 63 Tre battery electric trucks and delivered 31 to dealers in the first three months of the year. It paused production at its factory in Coolidge, Arizona, and was set to resume making trucks in July, the company said last month.
Persons: Nikola, Akash Sriram, Shinjini Organizations: Nikola Corp, Phoenix Fire Department, Thomson Locations: Phoenix , Arizona, American, Coolidge , Arizona, Bengaluru
CNN —Nikola, a startup company that makes electric and hydrogen-powered semi trucks, said in a tweet Friday morning that several of its trucks had been damaged in a fire at the company’s Phoenix, Arizona headquarters. “Foul play is suspected as a vehicle was seen in the area of the affected trucks just prior to the incident and an investigation is underway,” the tweet said. A Nikola spokesperson reached by CNN said more information would be released as it became available. The first report of a fire was around 4:30 am MT, Phoenix Fire Department captain Todd Keller said. The trucks were among more than 30 stored at the headquarters facility, Keller said.
Persons: CNN — Nikola, Todd Keller, Keller, Nikola Organizations: CNN, Nikola, Phoenix Fire Department, Phoenix, Hindenburg Research Locations: Phoenix , Arizona
CNN —It marks the dawn of a new generation of basketball talent; the NBA draft is here and its more exciting than ever. How to watchThe 2023 NBA draft takes place on Thursday, June 22 at Barclays Center in Brooklyn, New York, and is scheduled to begin at 8 p.m. To see who is selected by which team, fans can watch the draft on ABC, ESPN or via the NBA league pass. Two-time NBA MVP Jokić is what all general managers are stiving for, a late round pick who blossoms into a superstar player. First round draft orderHere is who will pick where in the first round of the 2023 NBA draft:1.
Persons: Victor Wembanyama, Wembanayama, he’s, , , ” Wembanyama, Wembanyama, Gregg Popovich, Brandon Miller, Scoot Henderson, Henderson, Miller –, Miller, Damian Lillard, Lillard, Thompson, Ausar Thompson, Amen Thompson, Dale Zanine, Cam Whitmore, Jarace Walker, Taylor Hendricks, Nikola Jokić, Jokić Organizations: CNN, NBA, Barclays Center, ABC, ESPN, San Antonio Spurs, Spurs, Morning, of Fame, Charlotte Hornets, Portland Trail Blazers, Miami Heat, AP, City, G League, City Reapers, USA, Sports, Reuters, Villanova, UCF, Denver Nuggets, Houston Rockets, Detroit Pistons, Orlando Magic, . Indiana Pacers, Washington Wizards, Utah Jazz, Dallas Mavericks, Oklahoma City Thunder, Toronto Raptors, New Orleans Pelicans, Atlanta Hawks, Los Angeles Lakers, Golden State Warriors, Brooklyn Nets, Sacramento Kings, Memphis Grizzlies, Indiana Pacers, LA Clippers Locations: Brooklyn , New York, Europe, “ San Antonio, , Morning America, San Antonio, Alabama, LaMelo, Portland, Houston, Serbian
Violations were found in 25-50% of audits reviewed, depending on the audit standard at issue, the SEC said. "Marcum neglected its essential gatekeeper function in service to its own growth," said SEC Chair Gary Gensler in a statement. The SEC found the deficiencies were not limited to Marcum's SPAC clients. In addition to the civil penalty, settlement requires Marcum undertake remedial actions including hiring an independent consultant to review its policies procedures and to abide by certain restrictions when taking on new clients. Reporting by Chris Prentice; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Marcum, Nikola, Gary Gensler, Chris Prentice, Conor Humphries Organizations: Nikola, U.S . Securities, Exchange Commission, SEC, SPACs, Marcum, DraftKings Inc, Thomson
Interbreeding with Homo sapiens helps to explain why millions can't straighten their fingers. There is also a Neanderthal gene variant that increases the risk of somebody dying from COVID-19. The study evidences that "intermingling" from Neanderthals and our Homo sapiens ancestors is consequential in examining the prevalence of certain diseases, researchers said. No more than 7% of the human genome is unique to Homo sapiens, according to a study published in the journal Science Advances. Brain development and function are what sets Homo sapiens apart, experts explained.
Persons: sapiens, , Hugo Zeberg, Nikola Solic, Zeberg Organizations: Service, British Society for Surgery, Karolinska Institute, Times Locations: COVID, Europe, Finland, Africa, Sweden, Asia
June 16 (Reuters) - Electric-vehicle startup Faraday Future Intelligent Electric (FFIE.O) said on Friday it was planning a reverse stock split, as it looks to regain compliance with Nasdaq's minimum bid price requirements. Faraday Future closed at $0.45 on Friday. So far this year, electric-truck maker Nikola (NKLA.O) has said it may execute a reverse stock split, while Lordstown Motors (RIDE.O) has also announced a reverse stock split to meet Nasdaq listing norms. Faraday's reverse stock split proposal includes a range between 1-for-2 and 1-for-90 shares of outstanding common stock. Last November, Faraday Future raised doubts about its ability to continue as a "going concern".
Persons: Faraday, Nikola, Samrhitha, Krishna Chandra Organizations: Nasdaq, Companies, Lordstown Motors, FF, Futurist Alliance, Thomson Locations: Angeles, Bengaluru
Electric-truck maker Nikola to lay off 270 employees
  + stars: | 2023-06-16 | by ( ) www.reuters.com   time to read: 1 min
Companies Nikola Corp FollowJune 16 (Reuters) - Electric-truck maker Nikola (NKLA.O) said on Friday it would lay off 270 employees. Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
Persons: Nikola, NKLA.O, Niket, Krishna Chandra Organizations: Nikola Corp, Thomson Locations: Bengaluru
REUTERS/Dado Ruvic/Illustration/File PhotoJune 16 (Reuters) - U.S. electric-vehicle startups were set for massive weekly gains on Friday after a searing rally in their shares over the past few sessions nearly doubled the value of companies such as Nikola (NKLA.O). Other big gainers such as Nikola and Workhorse Group (WKHS.O) have short interests of 21.7% and 23.9%, respectively. Reuters GraphicsUsed-car retailer Carvana (CVNA.N), another highly shorted stock, has also posted strong gains that have pushed up its value by nearly $1.38 billion this week. "Carvana probably kick-started this, it is up more than 100% in a couple of weeks on a short squeeze. Nikola and Lordstown have drawn a flurry of bullish options activity in recent days as traders place bets on further gains.
Persons: Dado Ruvic, Nikola, Dennis Dick, Carvana, Tesla, Lordstown, Aditya Soni, Akash Sriram, Saqib Iqbal Ahmed, Shounak Dasgupta Organizations: REUTERS, Lordstown, S3 Partners, Reuters, Triple, EV, U.S, Nasdaq, Thomson Locations: Morgan, Bengaluru, New York
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