Nikola inventory falls 14 % after CEO downplays Badger truck plans

A large pickup truck gradually vanishes.

Enlarge / The entrance half of the Nikola Badger. (credit score: Aurich Lawson / Nikola Motor Company)

Nikola CEO Mark Russell downplayed the corporate’s Badger pickup truck in feedback to the Monetary Instances on Thursday.

“The Badger was an fascinating and thrilling venture to some shareholders, however our institutional shareholders are largely centered on the marketing strategy,” Russell mentioned. “Our core marketing strategy since earlier than we grew to become publicly listed all the time centered on heavy vans and hydrogen infrastructure.”

Russell’s feedback had been revealed after markets closed on Thursday. Nikola’s inventory value plunged on Friday morning and is presently down about 14 % for the day.

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Cruise will quickly hit San Francisco with no arms on the wheel

Cruise has been testing its self-driving cars, with safety drivers, in San Francisco for about five years.

Enlarge / Cruise has been testing its self-driving automobiles, with security drivers, in San Francisco for about 5 years. (credit score: Andrej Sokolow | Getty Pictures)

Final week, Waymo, the self-driving-vehicle developer owned by Alphabet, expanded a first-of-its-kind service providing rides to paying passengers round Phoenix—with nobody behind the wheel. Movies shared by Waymo and others present its minivans navigating extensive, sunny streets with ease.

Now rival Cruise, a Normal Motors subsidiary, has taken a step towards working its personal self-driving-taxi service—on the hilly, winding, pedestrian-swarmed streets of San Francisco. On Thursday, Cruise mentioned the California Division of Motor Autos had granted it a allow to check as much as 5 of its modified Chevy Bolts with out anybody behind the wheel. In a weblog submit, Cruise CEO Dan Ammann mentioned actually driverless automobiles would function within the metropolis earlier than the top of the yr.

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