Nikola exits European joint venture to focus on hydrogen trucks in North America

Electric heavy truck maker Nikola said Tuesday that it’s “refocusing the company on North America” as it exited a European joint venture with its chassis supplier,

The news came as the company reported its first-quarter results. Here are the key numbers, together with Wall Street estimates as reported by Refinitiv…

Nikola said it will temporarily suspend production of the battery-electric truck while it reconfigures its assembly line to build both the battery-electric and fuel cell trucks. While it expects the fuel cell truck to become its primary product, it will continue to build battery-electric trucks to order after production of the fuel cell truck begins, it said.

“As we move forward, we will be focusing on the North American market, hydrogen fuel cell trucks, the HYLA hydrogen refueling business, and autonomous technologies,” CEO Michael Lohscheller said. “We have the right products at the right time.”