Stock Market News
Nikola posts wider quarterly loss as production costs rise
2022.05.05 16:20
U.S. Nikola’s logo is pictured at an event held to present CNH’s new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca
(Reuters) – Nikola Corp reported wider quarterly losses on Thursday, with the electric-truck maker incurring higher costs as it ramped up production of its electric semi trucks.
Net loss widened to $152.9 million, or 37 cents per share, in the quarter ended March 31 from $120.2 million, or 31 cents per share, a year earlier.
The company also said it shipped 11 Tre battery electric trucks in April, marking its first ever shipment to customers.
