Nikola Corp., the electric truck startup that went public via a SPAC, is coming closer to commercial activity after a history of over-promising, missed deadlines and investigations into its founder for lying to investors.
In its fourth-quarter earnings report released Thursday, Nikola ticked off a number of recent milestones and, critically, its plans to begin series production of its electric big rigs.
For investors, the developments may be little more than cold comfort after much of Nikola’s value was lost on the public markets since its mid-2020 highs. Still, the public company is very much working toward, as CEO Mark Russell wrote in its Q4 digest, “delivering vehicles and generating revenue.”
The beleaguered company, which has suffered from supply chain constraints that caused delays and investigations by securities regulators, said it will begin series production of its electric trucks in March. Nikola said it plans to deliver between 300 and 500 of the production-ready Tre battery-electric …
