: Nikola to recall trucks after battery issue; stock sinks

by | Aug 14, 2023 | Stock Market

Nikola Inc. is conducting a voluntary recall of more than 200 of its electric vehicles after an investigation into their battery packs. The company announced late Friday that it would recall about 209 Class 8 Tre battery-electric vehicles (BEV) “as a precautionary measure.” Nikola
NKLA,
-0.51%
also will pause new BEV sales “temporarily,” though the company’s move doesn’t impact production of its hydrogen fuel-cell electric vehicles (FCEV), which have a different design.

Nikola said that Exponent, a third-party investigator, deemed a coolant leak inside a battery pack to be the likely cause of a June 2023 truck fire. See also: Rivian, Lucid and XPeng make the list of 20 EV companies expected to grow sales most quickly through 2025 “Internal investigations from Nikola’s safety and engineering teams indicate a single supplier component within the battery pack as the likely source of the coolant leak and efforts are underway to provide a field remedy in the coming weeks,” the company continued. Nikola shares were off about 15% in Monday’s premarket action. Don’t miss: 20 EV stocks that are expected to soar at least 38%, even after this year’s rebound The company said that Tre BEV trucks could remain in operation, though Nikola recommends that customers and dealers place the Main Battery Disconnect in the “on …

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[mwai_chat context=”Let’s have a discussion about this article:nnNikola Inc. is conducting a voluntary recall of more than 200 of its electric vehicles after an investigation into their battery packs. The company announced late Friday that it would recall about 209 Class 8 Tre battery-electric vehicles (BEV) “as a precautionary measure.” Nikola
NKLA,
-0.51%
also will pause new BEV sales “temporarily,” though the company’s move doesn’t impact production of its hydrogen fuel-cell electric vehicles (FCEV), which have a different design.

Nikola said that Exponent, a third-party investigator, deemed a coolant leak inside a battery pack to be the likely cause of a June 2023 truck fire. See also: Rivian, Lucid and XPeng make the list of 20 EV companies expected to grow sales most quickly through 2025 “Internal investigations from Nikola’s safety and engineering teams indicate a single supplier component within the battery pack as the likely source of the coolant leak and efforts are underway to provide a field remedy in the coming weeks,” the company continued. Nikola shares were off about 15% in Monday’s premarket action. Don’t miss: 20 EV stocks that are expected to soar at least 38%, even after this year’s rebound The company said that Tre BEV trucks could remain in operation, though Nikola recommends that customers and dealers place the Main Battery Disconnect in the “on …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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