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Global Microchip Shortage Complicates EV Startup Success

Global Microchip Shortage Complicates EV Startup Success
Despite a national push towards electric vehicle implementation, the coronavirus pandemic has led to a microchip scarcity, triggering production challenges for many starting companies in the EV industry.
May 26, 2021 •
(TNS) The global semiconductor shortage that has idled plant after plant and delayed product launches by long-established automakers comes in a year when several electric vehicle startups hope to launch their own vehicles.
Lordstown Motors Corp. on Monday offered a glimpse into the impact of such pandemic-induced supply-chain constraints and their costs on these startups. Shares of the Ohio EV company were falling more than 9 percent in post-market trading after it slashed its production goals for the year if it does not receive additional funding. ....

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Nikola Corporation Reports First Quarter 2021 Results

Nikola Corporation Reports First Quarter 2021 Results
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PHOENIX, May 7, 2021 /PRNewswire/ Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation solutions, today reported financial results for the quarter ended March 31, 2021.
During the first quarter Nikola continued to deliver on our previously communicated milestones and execute on our business plan, said Mark Russell, Nikola s Chief Executive Officer. We have had continued success in commissioning and validating the Nikola Tre BEVs, and are nearing completion of both our Ulm, Germany and Coolidge, Arizona manufacturing facilities.
Progress on the Commissioning and Validation of the First Batch of Nikola Tre BEVs ....

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Nikola And Republic Services End Collaboration On Electric Refuse Truck

Nikola And Republic Services End Collaboration On Electric Refuse Truck
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The order for 2,500 Nikola Refuse trucks, based on the battery-electric Nikola Tre truck, was canceled.
Nikola Corporation announced today that its collaboration on battery-electric refuse trucks with Republic Services has come to an end.
The deal, announced in August 2020, was expected to result in the deployment of a minimum of 2,500 (up to 5,000) chassis and body (including both automated side loaders and front-end loaders), starting in 2023. This order is now canceled.
One might ask, what actually changed within those several months? After the termination of the Nikola Badger, it s actually a second closed project. Here is the official explanation: ....

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Nikola and Republic Services End Collaboration on Refuse Truck

Press release content from PR Newswire. The AP news staff was not involved in its creation.
Nikola and Republic Services End Collaboration on Refuse Truck
December 23, 2020 GMT
(PRNewsfoto/Nikola Corporation)
PHOENIX, Dec. 23, 2020 /PRNewswire/ Nikola Corporation (NASDAQ: NKLA) announced today that Nikola and Republic Services (NYSE: RSG) have discontinued their collaboration on refuse truck development.
The goal of the collaboration was to design and build an industry-first fully integrated refuse truck based on a zero-emissions battery-electric drive platform and body while also integrating multiple new systems into a new state-of-the-art vehicle.
After considerable collaboration and review, both companies determined that the combination of the various new technologies and design concepts would result in longer than expected development time, and unexpected costs. As a result, the program is being terminated resulting in the cancellation of the previous ....

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Nikola's stock crashes after announcing cancelation of contract with Republic Services for 2,500 garbage trucks – TechCrunch

Nikola’s stock crashes after announcing cancelation of contract with Republic Services for 2,500 garbage trucks
The undoing of Nikola continues. Today, the company announced the termination of its contract with Republic Services for 2,500 garbage trucks. Announced back in August, the deal had Nikola building garbage trucks in 2023 with on-road testing scheduled for 2024. This is the latest deal to unravel for Nikola as it tries to patch up following recent devastating reports.
According to Nikola, the separation of the two companies was mutual, though it’s hard to picture Nikola’s SEC troubles didn’t weigh heavily upon Republic Services.
“This was the right decision for both companies given the resources and investments required,” Nikola CEO Mark Russell said in a released statement. “We support and respect Republic Services’ commitment to achieving environmentally responsible, sustainable solutions for their customers. Nikola remains laser-focused on d ....

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