US electric truck maker Nikola's net loss widened to $169.09 million in the first quarter of this year, compared to a loss of $152.94 million in the same period a year earlier. Due to low demand for its electric trucks, Nikola decided to suspend production in order to streamline its assembly line at its Coolidge plant, Arizona and cut costs.
Nikola Suspends Production After Q1 Losses
US electric truck maker Nikola's net loss widened to $169.09 million in the first quarter of this year, compared to a loss of $152.94 million in the same period a year earlier.
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