You might also like
Nikola Corporation (NKLA) is a technology-driven company focused on decarbonizing the trucking industry through innovative energy and transportation solutions. The company designs, manufactures, and sells heavy-duty battery-electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) for the short, medium, and long-haul trucking sectors. Additionally, Nikola develops hydrogen fueling infrastructure and offers related energy services to support its vehicles and promote sustainable transportation.
-
Truck Sales - Manufactures and sells Class 8 battery-electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) designed for environmentally friendly and cost-effective trucking solutions.
- Tre BEV - A battery-electric truck for short and medium-haul applications, with commercial production starting in Q1 2022.
- Tre FCEV - A fuel cell electric truck for long-haul applications, with commercial production starting in Q3 2023.
-
Service and Other - Provides charging products, regulatory credits, hydrogen sales, and service parts and labor to support its vehicles and energy ecosystem.
-
Hydrogen Ecosystem - Develops hydrogen production, procurement, distribution, storage, and dispensing infrastructure under the HYLA brand to support FCEV operations and promote clean energy adoption.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Stephen J. Girsky ExecutiveBoard | President and CEO | Board member at Brookfield Business Partners, Viaduct, and Monro, Inc. | Stephen J. Girsky has been CEO since August 2023 and a board member since January 2018. He has extensive experience in corporate strategy and governance, particularly in the zero-emissions sector. | View Report → |
Britton M. Worthen Executive | Chief Legal Officer and Secretary | None | Britton M. Worthen has been with Nikola since October 2015, guiding the company through its transition to a public entity and managing legal and regulatory compliance. | |
Dirk Ole Hoefelmann Executive | President of Energy | None | Dirk Ole Hoefelmann became President of Energy in February 2024. He has over 30 years of experience in hydrogen and energy infrastructure. | |
Mary S. Chan Executive | Chief Operating Officer | Board member at Magna International, SBA Communications, and CommScope | Mary S. Chan joined as COO in October 2023. She has a strong background in automotive and technology sectors, with leadership roles in several global companies. | |
Thomas B. Okray Executive | Chief Financial Officer | Board member at Monro, Inc. and Flowserve Corporation | Thomas B. Okray became CFO in March 2024. He has held CFO roles at Eaton, Grainger, and Advance Auto Parts, and has extensive financial leadership experience. | |
Andrew M. Vesey Board | Board Member | President and CEO of USA Fortescue Holdings Inc. | Andrew M. Vesey has been a board member since October 2022. He has over 40 years of experience in the energy industry and clean energy solutions. | |
Bruce L. Smith Board | Board Member | Chairman and CEO of Detroit Manufacturing Systems LLC | Bruce L. Smith has been a board member since October 2020. He has over 30 years of leadership experience in manufacturing operations. | |
Carla M. Tully Board | Board Member | Board member at Pattern Energy Group; Senior Advisor to CPP Investments | Carla M. Tully joined the board in February 2024. She has extensive experience in renewable energy and scaling energy businesses. | |
John C. Vesco Board | Board Member | Principal Business Consultant at V&J Consulting; Adjunct Professor at Aurora University | John C. Vesco joined the board in August 2023. He has over three decades of experience in transportation, logistics, and emerging technologies. | |
Jonathan M. Pertchik Board | Board Member | Board member at Lenkbar, LLC | Jonathan M. Pertchik joined the board in December 2023. He has over two decades of leadership experience in trucking, automotive, and real estate. | |
Mary L. Petrovich Board | Board Member | Senior Operating Executive at The Carlyle Group; Chairman of DealerShop and Traxen | Mary L. Petrovich joined the board in December 2020. She has extensive experience in strategic planning and risk management in the transportation sector. | |
Michael L. Mansuetti Board | Board Member | President of Bosch North America; Board member at MEMA and OESA | Michael L. Mansuetti has been a board member since June 2020. He brings expertise in advanced manufacturing and hydrogen fuel technology. | |
Steven M. Shindler Board | Chairman of the Board | Board member at Roundtrip EV Solutions and NII Holdings; Partner at RIME Communications Capital | Steven M. Shindler has been Chairman since August 2023 and a board member since September 2020. He has extensive experience in finance and corporate strategy. |
- Given your current cash burn rate and the statement that existing cash only funds operations into Q1 2025, what specific steps are you taking to secure additional capital, and how confident are you in obtaining it without unfavorable terms?
- With the fuel cell electric vehicle market still developing and adoption rates uncertain, how realistic is your guidance of delivering 300 to 350 fuel cell trucks this year, and what are the main risks that could prevent you from achieving this target?
- Competitors are advancing in fuel cell technology, such as testing 200-kilowatt fuel cell trucks; how is Nikola ensuring its technology remains competitive, and what are your plans for R&D investment given your limited cash runway?
- Can you provide more clarity on the unit economics of your fuel cell trucks, specifically the breakeven point in terms of production volume, and what progress have you made in reducing costs to improve profitability?
- Considering the challenges with the BEV recalls and returns, how are you managing inventory and demand forecasting to prevent similar issues in the future, and what is your strategy for marketing BEVs versus fuel cell vehicles moving forward?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Romeo Power, Inc. | 2022 | Nikola’s acquisition of Romeo Power, Inc. was an all‑stock transaction worth approximately $144 million (a 34% premium), with Romeo stockholders receiving 0.1186 shares each, resulting in about 4.5% ownership post‑transaction. It strategically brought in‑house battery pack engineering to achieve significant cost savings and operational synergies, with interim liquidity support and regulatory approvals leading to completion in October 2022. |
No recent press releases or 8-K filings found for NKLA.