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Nikola loses fuel-cell development head, shares fall

Nikola loses fuel-cell development head, shares fall

by admin
April 9, 2021
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Nikola stated on Wednesday its fuel-cell improvement head, Jesse Schneider, has left the corporate to pursue alternatives within the hydrogen business, sending shares of the electric-truck maker down 5%.

The departure comes simply over a month after Nikola disclosed particulars on its hydrogen fuel-cell-powered product lineup that may embody automobiles with a driving vary of as much as 900 miles.

Schneider, who spent three years on the startup as an government vice-president, oversaw the event of its gasoline cell and hydrogen workforce, Nikola stated in a press release.

The corporate has been within the limelight ever since a short-seller accused it of fraud in September final yr, resulting in the resignation of founder Trevor Milton. Nikola had publicly rejected all accusations.

In February, nonetheless, Nikola disclosed that the corporate and Milton had made a number of statements that have been partially or utterly inaccurate, after an inside evaluate.

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