Nikola streamlines strategy to compete
Hydrogen truck manufacturer refocuses on core business areas
Nikola has long billed itself as a leading designer and manufacturer of hydrogen-electric semi-trucks. But the Phoenix-based company appears to have been overtaken by rival Hyzon Motors, slipping into a pack with several other truck manufacturers such as Cummins, Hyundai, Toyota, Daimler and Volvo. Nikola has been pressured to streamline its product line in order to compete. The move follows dwindling cash reserves and the company’s share price falling to single digits—after hitting an all-time high of $93.99 in June of last year, briefly giving it a market value greater than US auto giants Ford and Fiat Chrysler—following a barrage of bad press associated with legal issues facing its founde

Also in this section
4 July 2025
Race is on to meet end-2027 deadline for 45V as Congress passes One Big Beautiful Bill Act
1 July 2025
Gas industry and EU politicians pile pressure on European Commission to provide more regulatory certainty on emissions calculations
27 June 2025
TotalEnergies’ delayed FID for its Venus project will likely set back first oil, but Windhoek has other irons in the fire
26 June 2025
Last year was one of records for renewables but also for oil, gas and coal, as the energy transition progresses in an increasingly uneven way, according to the Energy Institute’s latest annual report