Losses at truck maker Nikola more than halved year on year in the third quarter as a result of record sales, cost cutting and the absence of expenses incurred in the year-ago period.

“Despite overall market headwinds, Nikola remains focused on our mission to pioneer solutions for a zero-emission world, and we’re doing it one truck at a time,” CEO Steve Girsky said.

Polestar named Michael Lohscheller its new CEO as the electric vehicle maker seeks to stem deepening losses and fix ongoing operational problems.

Nikola Corp. reported a 103% revenue increase but wider losses in the second quarter as electric vehicle sales gained momentum, the company announced Aug. 9.

Losses at Nikola in the first quarter narrowed year-over-year, and executives are more bullish than in previous quarters about the truck maker’s prospects even as production costs soar.

Nikola Corp. produced 43 and wholesaled 40 Class 8 hydrogen fuel cell electric vehicles in the first quarter of 2024, the truck maker said.

Class 8 truck maker Nikola Corp. appointed Thomas Okray as chief financial officer March 4, ending a three-month stint where CEO Steve Girsky wore both hats.

Losses at Class 8 vehicle manufacturer Nikola Corp. narrowed 30.8% year-over-year in the fourth quarter of 2023 as research and development costs plummeted.

Nikola Corp. rejected a slate of nominees for its board of directors proposed by an entity it said was controlled by founder Trevor Milton, arguing none were fit for the role.

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