nikola tre

Nikola reports fire of ‘multiple’ electric trucks at HQ, foul play suspected

Credit: Nikola Corp.

Nikola Motor Corp. said this morning that a fire affecting “multiple” battery electric trucks occurred behind its headquarters in Phoenix, Arizona, and the automaker suspects foul play.

The company said in a statement that nobody was injured, but foul play is suspected to be the cause as it said, “a vehicle was seen in the area of the affected trucks just prior to the incident.”

Nikola has had a long and tumultuous story for the past few years and is still working to stabilize its operations and production.

The company posted a sizeable loss in Q1 and produced 63 units of its Tre BEV, with 31 of them making their way to dealers.

It ended up pausing production temporarily to modify its assembly line and shifted the Tre to a “built-to-order” product. This project began at the end of May 2023.

Nikola was also facing a potential delisting from NASDAQ as it had failed to maintain a closing minimum bid price of $1 per share. The company was sent a notice from the stock exchange in late May.

Nikola has recovered nicely in the past month and is up over 70 percent in the past month. The stock is currently trading at $1.32 a share.

Disclosure: Joey Klender is not a NKLA Shareholder.

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Nikola reports fire of ‘multiple’ electric trucks at HQ, foul play suspected
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