Zero hedge
By Tyler Durden – August 13, 2023
Struggling electric vehicle maker Nikola announced a recall of its battery-powered electric trucks after a third-party investigation revealed a “thermal event” was the probable cause for a June 23 truck fire at the company’s Phoenix, Arizona, headquarters. Nikola previously suggested the fire was the result of ‘foul play.’
Nikola released the details about the “voluntary recall of approximately 209 Class 8 Tre battery-electric vehicles (BEVs)” late Friday evening after the US equity cash session was closed. However, there were still 30 or so minutes left in the after-hours session, and shares of the company slid 5%.