Nikola sinks further and further.
Nikola stock craters after cancellation of major garbage truck order:
Another established company has backed away from struggling electric truck maker Nikola, sending the latter's stock price down by 18 percent over two days of trading. Nikola's stock value is down more than 80 percent from its all-time peak in June.
Back in August, trash company Republic Services placed an order with Nikola for 2,500 electric garbage trucks with an option to take 5,000 more. At the time, Nikola was flying high, having just entered public markets in June. According to the Arizona Republic, the trucks were slated to have a range of 150 miles and capacity for 1,200 cans of garbage.
The garbage trucks were supposed to be variants of the Nikola Tre, a battery electric truck that Nikola is building with help from Italian truckmaker Iveco. Testing of the garbage trucks was supposed to begin in 2022, with the first trucks delivered a year later.
But on Wednesday, Nikola said that the two companies were ending their partnership. Nikola blamed "longer than expected development time and unexpected costs."
"This was the right decision for both companies given the resources and investments required," said Nikola CEO Mark Russell.
Related Stories
Electric vehicle startup Nikola Corp. has announced it had filed for Chapter 11 bankruptcy:
Nikola now joins a line of EV startups that fell into bankruptcy over the past year. While the Biden-Harris administration went full-speed ahead with a vision of EVs replacing gas-powered vehicles, electric-vehicle production has become a bad bet for the companies that jumped into the vision head-first. Consumers just never got on board with the plan.
With Trump planning to end federal EV mandates and legislation seeking to stop tax credits for the purchase of new EVs, the list of failed EV startups might continue to grow.
[...] The company went public in 2020, according to Bloomberg, through a deal with a special-purpose acquisition company. Nikola's stock went up after the transaction was closed, but shortly after, Bloomberg revealed its founder, Trevor Milton, had overstated the capability of the company's debut truck. He was later convicted on fraud charges.
"Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate," Nikola president and CEO Steve Girsky said in a recent statement on the company's bankruptcy filing.
Previously:
- Nikola Stock Craters After Cancellation of Major Garbage Truck Order
- Nikola Stock Falls 14 Percent after CEO Downplays Badger Truck Plans
- Nikola's Deal With GM Was Supposed to Close Today—It Didn't
- Nikola Founder Bought Truck Designs From Third Party
- Nikola Stock Plunges 26% after Fraud Claims Complicate Hydrogen Plans
- New Report Claims Widespread Deception by Nikola Motor and Founder Trevor Milton
(Score: 0) by Anonymous Coward on Tuesday December 29 2020, @06:00PM (5 children)
> Another established company has backed away from struggling electric truck maker Nikola,
Another established company has backed away from scammer Nikola which has faked just about everything having to do with making electric trucks,
FTFY
If it's too good to be true, it's probably false. These "established companies" need to trust their internal engineers more (or hire some) and pay less attention to pie-in-the-sky promoters.
(Score: 4, Interesting) by bzipitidoo on Tuesday December 29 2020, @06:54PM (4 children)
Yeah, "pie in the sky" is the phrase I was thinking. Been there, done that. It's sad how common delusional thinking is. It's one thing to be optimistic. Stepping over the line into total bull and outright lying is another. Lot of business leaders do that, and get away with it, for a while. Reality eventually catches up.
Garbage truck is, I suspect, too much for current battery tech. Takes a lot of energy to run a garbage truck, and they are on long duty cycles. Can't down a garbage truck for half a day so it can recharge.
(Score: 2) by corey on Tuesday December 29 2020, @11:11PM (3 children)
But I thought the garbage truck duty cycle of 4-5hrs in the morning with constant stopping and starting would suit an EV well. Compared to long trips with constant battery utilisation for a standard car or long haul truck. The garbage trucks stopping by my house always have the most squeaky brakes and they are constantly using them, such a waste of energy.
Nikola seems to get pretty negative press. I don’t know much about them, and they could be ridden with bad executive decisions but for the sake of humanity I hope they are successful in making EV trucks.
(Score: 2) by bzipitidoo on Wednesday December 30 2020, @04:02AM (2 children)
The problem is, first, that trucks are heavy. Second, many kinds of trucks use a great deal of power for other than traveling-- concrete trucks have mixers, refrigerated trailers have refrigeration equipment, and garbage trucks have trash compactors.
Think also about that 5 hour duty cycle. 60 mph for 5 hours is 300 miles, near the limit of a Tesla's range, and all it is doing is carrying itself and a few passengers, no big load, no heavy structure for holding such loads. I guarantee the Tesla won't go 300 miles on 1 charge if it is loaded down, with, say 4 people who each weigh 250 lbs, and another 250 lbs of luggage. True, the garbage truck is much slower, and that saves energy. But all the other factors more than balance that. Long haul trucks have much longer duty cycles, with drivers trading off so that the truck can keep moving.
Battery electric just isn't good enough for trucks, not yet.
(Score: 0) by Anonymous Coward on Wednesday December 30 2020, @10:08PM (1 child)
Keep a diesel engine on the truck tuned for constant speed operation, install a large high voltage generator in place of the transmission, install electric motors either in place of the driveshaft or integrated into the drive axles. The diesel runs the hydraulics if mechanical pump driver, and the generator which can charge buffer caps for peak loads (accelerating, which is very little of the average garbage truck's workload), then you don't need batteries, you cut down on the emissions from the garbage trucks, because the majority of them are during the acceleration/deceleration cycle of the engine, you run that urea solution+particulate filters, and you get the best of both worlds.
The fact that people are retardedly pushing for all electric, rather than making the best use of decoupled engine electrified drive boggles my mind. The current biggest weakeness, danger and pollution aspect for electric cars is the battery. While a decoupled system would have a major weight/space issue on consumer sized vehicles, for industrial vehicles like garbage trucks the wasted space is usually already there, and the weight increase from duplicating the generator and one or more electric motors would not make a large difference in vehicle range, although it MIGHT make a big difference in both emissions and fuel economy.
(Score: 2) by bzipitidoo on Wednesday December 30 2020, @11:44PM
In other words, you propose a hybrid. Sure, it's a great idea. Train engines have been that way for decades.
Yes, the sheer scope of the willful disregard for fuel savings is mind boggling. There's a lot of low hanging fruit that truck manufacturers, buyers, and users have simply ignored. Aerodynamics is a big one. So easy to add vortex generators to the trailing edges of trailers, but they can't be bothered. It's only relatively recently that they've added spoilers to the undersides. They have been using those rounded hoods on top of the cabs for a good while now.
(Score: 0, Offtopic) by fakefuck39 on Tuesday December 29 2020, @06:31PM (29 children)
is this like marketing pr from the loser to save face?
an automaker that is 6 years old, with 1 million dollars "projected" revenue, has not sold one single thing, apparently worth 23 billion somehow. and this "automaker" seems concerned about stock price. so it's an enron wannabe. inflate the stock, dump the stock, bbye suckers.
in high school, sophomore year i believe, i was dating a girl. she dumped me for a dude with long flowing blonde hair. and a car. and sheer pantyhose. and black lipsstick and nails. and a marilyn manson tatoo. like Mark Russell, i told everyone it was a mutual and right decision for both parties.
in retrospect, it was the right decision for me, that she made. because within a year, she dumped that dude, started dating a fat lesbo with tatoos and stopped shaving her legs, and within two years blew up into a cow. Oh Sarah, how are you doing? Living in a small house with woodchip on the wall? Do you recall? What are you doing sunday baby? Would you like to meet me maybe? Be there, 2 o'clock, by the fountain down the road.
That young lady taught me where the clitoris was.
(Score: 0, Flamebait) by Anonymous Coward on Tuesday December 29 2020, @06:39PM (5 children)
Another installment in the life of the oh-so-interesting "dryhump39".
(Score: 1, Troll) by fakefuck39 on Tuesday December 29 2020, @06:44PM (4 children)
not all of us were involuntarily saving our man-cherry via getting through high school being stuffed inside a locker... how old are you now autism-boy? isn't it time you just hire a prostitute?
(Score: 0) by Anonymous Coward on Wednesday December 30 2020, @12:14AM (3 children)
Since dryhump39 asked, senior year I was working with a Trans-AM racing team, helping build their car...nearly every night 'til about 1am. Conveniently the AP classes I was taking started around 11am, so I set up a permanent late note and motorcycled into school in time for that first class. My public school was cool with that, they got their state aid ($$/pupil-day) as long as I checked in at the office before 11.
Never spent any time at my locker. Stage crew, including my hs gf, hung out (unsupervised) in the auditorium between classes. This also meant we could avoid the zoo scene in the cafeteria.
A few days before graduation there was a whole-senior-class assembly at ~8am. I came into my assigned homeroom on time at 7:30 and the teacher asked me who I was...I hadn't been there since the first few days of school.
(Score: 1, Flamebait) by fakefuck39 on Wednesday December 30 2020, @02:06AM (2 children)
so, lemme get this straight - you were a high school student, a nerd in AP classes, building cars for a famous racing team in your spare time, and let you skip half of school on a permanent late note, somehow managing to give you a diploma despite not having enough credits as required by federal law to graduate, since you missed half your classes.
then, at some point between then and now, you went from from the trans-am to the trans-woman team, who is 60 w/ some kids, and spends her time on soylent posting from 20 different tabs, using insults that sound like a high school unpopular kid makes, when they're sitting alone at lunch at 17, giving angry looks at the jocks and their girlfriends across the lunchroom.
is that about right? cool story bro.
(Score: 0) by Anonymous Coward on Wednesday December 30 2020, @03:47AM (1 child)
> is that about right?
Suuuuure...except you have me (logged in, usually posting AC) and all the details crossed up, completely. Your assumptions are wrong on every count. Congratulations dryhump39, you are batting 1000!
Back then the schools did something in middle school for kids that were doing well on their school work. The top 5-10% were "accelerated", nearly the same as skipping a grade. As a result, I had almost enough credits to graduate HS by the end of my junior year. Senior year was easy and, as noted, the AP classes were luckily scheduled to match my sleep schedule--I had no early morning classes.
All the members of my immediate family are straight (so far...who knows what the future will bring?)
One SN tab open is usually enough. I did open a second tab the other day when the Journals were temporarily missing from the front page--it was fun to keep up with the comments on Ari's latest essay On Nihilism.
The race car experience turned out to be a big plus on the extra-curricular activity part of engineering college applications, although that wasn't on my radar when I started helping them for fun.
(Score: 1, Troll) by fakefuck39 on Wednesday December 30 2020, @05:47AM
hey buddy. i didn't read any of that and no one else did either, since it's too deep in the thread. when you get boring, I just skip it. you keep those 20 AC tabs open, you keep refreshing them every few minutes, stay on it for when I'm in the mood to read it. when i feel like taking a dump in your mouth again, it's good to know you always got it open for me. but keep replying just in case i'm in the mood, and definitely keep refreshing all those tabs.
(Score: 2, Offtopic) by barbara hudson on Tuesday December 29 2020, @07:14PM (15 children)
So you were so awful you turned her into a lesbian?
We can believe it. But would rather not think of it.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by fakefuck39 on Tuesday December 29 2020, @07:23PM (14 children)
correct. as a 15 year old virgin, I was terrible in bed - in fact, I did not know what a clitoris was, as I mentioned. she didn't finish, i didn't finish, and after an hour we got frustrated and ordered a pizza. the fact that autism-boy here think this is some kind of an insult means you think a virgin being bad in bed is a bad embarrassing thing.
this is very clear virtue signaling. for you, as a 30-40 yo man, an old incel niceguy, it is in fact embarrassing. For a high school kid - he just got laid and his friends are high-fiving him at a party. A party is somewhere you get invited by people who want to hang out with you, because you're not an autistic weird social reject.
(Score: 3, Interesting) by barbara hudson on Tuesday December 29 2020, @08:40PM (13 children)
Autism isn't an excuse. You're an adult, and like most people who claim to be autistic, or aspire, you use that to avoid personal responsibility for your behaviour.
You're comfortable playing the victim and not doing anything about it. Otherwise you'd be making efforts to change it. Same as somebody out of job would try to find something constructive to do if they don't enjoy watching the grass grow, such as learn new skills, sharpen skills they haven't used in a while, volunteer, do SOMETHING to improve their lot.
Like I said before - if you're incapable of helping yourself, get outside help. Before the pandemic. 1 out of 5 people were struggling with a mental health issue, and that has certainly gone up.
And yet most people would rather bitch and moan about how unfair it all is than seek help. They're acting against their best interests. Probably out of fear.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 1, Troll) by fakefuck39 on Tuesday December 29 2020, @09:49PM (12 children)
well, since I'm over 40 and currently enjoying traveling around europe with my wife, I'm gonna assume that's some more virtue streaming, autism-boy. Or complete lack of reading comprehension, which again, is due to your autism.
The only one complaining here about anything is you, that I turned a girl into a lesbo. See, the reason you're an old virgin incel is not because of the lesbians. It's because of your looks, and because of your autism. Don't be mad at me dude. Make peace with what you are and just fuck a dude.
(Score: 2) by barbara hudson on Tuesday December 29 2020, @10:04PM
Boy are you barking up the wrong tree. I would LOVE to be 30-40 again. And incels don't have kids, and I do, so you're projecting again.
Tell us some more lies. Lockdown is boring.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by barbara hudson on Wednesday December 30 2020, @12:46AM (10 children)
And I'm in my mid-sixties, have kids, and my birth certificate says female.
I was outed as a trans woman on the Internet back in 2006. Silly troll wannabe , I was trolling back when you were being deservedly stuffed into school lockers.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by fakefuck39 on Wednesday December 30 2020, @01:16AM (9 children)
this asshole unfortunately did the locker stuffing, usually of smaller kids. it was unfortunate, and i regret it. but i do miss the feeling. thank you for letting me do it online to you here.
I'm not interested in discussing your pronouns. save that for some sjw subreddit dude. question though, if you're a 60yo woman why do you sound like a lonely incel sitting in the basement, pretending he just got over menopause?
(Score: 2) by barbara hudson on Wednesday December 30 2020, @02:28AM (7 children)
Now it's only the ignorant like you who make an issue of not respecting a persons legal sex. Because you're an asshole.
Nobody else blinks an eye today. Ellen Page becoming Elliott Page. Only heard congratulations. Eddie Izzard says her pronouns are she and her? Not a ripple (most people had already figured it out, but still).
As for the rest, that's just you projecting. That's what assholes do. BTW, there's a growing consensus that there's no such thing as autism; just losers who were able to manipulate Shitty parents and now expect the rest of the world to similarly accept their bullshit at face value.
Time to grow up. But you won't, because you are so used to being fucked up that you can't leave your comfort zone. Autism? You've been watching "The Good Doctor " too much. It's fiction, fool.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by fakefuck39 on Wednesday December 30 2020, @02:33AM (2 children)
just letting you know, i didn't bother reading any of that. have a good relaxing sleep, don't forget to shower in the morning. you should shower daily.
(Score: 2) by barbara hudson on Thursday December 31 2020, @06:40AM (1 child)
You read it. Everyone knows you read it. We have your number , if you will.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by fakefuck39 on Thursday December 31 2020, @09:55AM
I'm sure I did read it - whatever you want to believe. this is the same everyone trump refers to all the time, right? I'm guessing this "everyone" is you and your other 10 AC posts that keep on talking to each other? If you take the pills the doctor told you to take, the voices in your head will stop.
(Score: 1, Interesting) by Anonymous Coward on Wednesday December 30 2020, @02:58AM (3 children)
Before I begin, fakefuck39 is a complete asshole who needs psychiatric help but is far too arrogant to admit that he needs it. There are a lot of similarities between him and APK, particularly before APK totally lost grasp of reality.
However, I dispute your statement about autism not being real. There is evidence of actual differences in the development of the brains in autistic versus non-autistic people. It's possible that autism is overdiagnosed, but I consider it highly unlikely that autism isn't real at all. Neither would I accept that other disorders like Asperger's Syndrome aren't real, either. It may be that there are problems in the diagnosis of such disorders, but I strongly disagree that they don't exist. The neurological differences between people who have autism and those who do not strongly indicate that autism is a real disorder.
(Score: 1, Flamebait) by fakefuck39 on Wednesday December 30 2020, @05:50AM (1 child)
summary: you were diagnosed with autism and are talking to yourself again.
(Score: 0) by Anonymous Coward on Thursday December 31 2020, @12:13AM
Don't worry, you're just a regular asshole in need of therapy.
(Score: 2) by barbara hudson on Thursday December 31 2020, @06:37AM
The biggest researcher refused to release his data, but people were able to track down enough of his subjects to be able to prove he faked their histories.
It's like chiropractors or homeopathy - people believe what they need to believe. All these bad behaviours in kids couldn't possibly be caused by shitty parents - but we know know that there are a LOT of shitty parents. Think Munchausen Syndrome by Proxy.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 0) by Anonymous Coward on Wednesday December 30 2020, @02:52AM
Seek professional help, APK, Jr., because you really need it. Life can't be pleasant when you feel the need to spend much of it being an asshole to random people on the internet. I hope you get the psychiatric help you greatly need.
(Score: 0) by Anonymous Coward on Tuesday December 29 2020, @08:15PM (6 children)
*sigh* You know your shtick is getting boring and repetitive, right?
(Score: 2) by barbara hudson on Tuesday December 29 2020, @08:47PM
I don't know. How often does an incel admit they turned a woman into a lesbian? (See other post).
it was a joke on Roseanne way back when. I guess life imitating art …
At least he didn't quitclaim his house to a catfish, get ghosted, and decide to take revenge on the Internet for enabling it by blowing himself up in his van in front of an At&T building. At least not yet …
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 1, Troll) by fakefuck39 on Tuesday December 29 2020, @09:51PM (4 children)
you know it's very clear you're talking to yourself, right? close the 20 tabs you refresh for replies every 5 minutes, uninstall your vpn client, take your meds, and get some sleep.
(Score: 0) by Anonymous Coward on Tuesday December 29 2020, @10:39PM (2 children)
your insecurities are leaking
(Score: 2) by barbara hudson on Wednesday December 30 2020, @12:51AM (1 child)
No kidding! There's a thing called a box that shows messages. I guess you don't know about and are assuming that because you have 20 tabs open and keep hitting refresh, everyone must be doing the same.
Is strong with this one , the projection is, ObiWan.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by fakefuck39 on Wednesday December 30 2020, @01:09AM
or, you know, you have about 20 anonymous posts per posts from your actual account. kinda like a teenager who sits at a computer all day but thinks he'll look cool if people online see he's having a conversation with people. so he becomes 20 people, talks to himself, and me, well in real life you can't laugh at the disabled - it's inappropriate. but so enjoyable. so i'm literally here because of you. because i can do this freely here.
or, you know, i'm wrong. and while it doesn't look like it to me, who knows. who cares? you're giving me opportunity to shit on you while you stand there and take it, with comebacks equivalent to that of a trained poodle, and that works for me too.
that fixation on one thing though - that's an actual an illness. enjoy your hole.
https://youtu.be/mf3e1F1a0Hg?t=41 [youtu.be]
and it's great that you have it. and it's great there's a place like here where assholes like myself can point a finger and laugh at the ill.
(Score: 0) by Anonymous Coward on Tuesday December 29 2020, @11:35PM
*ho-hum* Same old shit.. Now with "I know you are, but what am I?"
please, man.. it's over. come back when you can teach us the chiropractic arts
(Score: 3, Funny) by FatPhil on Tuesday December 29 2020, @06:51PM (9 children)
We have zero evidence of that presently. They rolled a chassis down a slope, but if that counts, then every 5 year old kid is a car manufacturer.
It smelt scammy from the start. CEO's cashing out everything he can - he doesn't give a shit, he's made his millions.
Sorry, what came over me? Where's capitalist FatPhil gone? I'll try again...
Oooh, shares have dipped, you say - value stock! - buy the dip!
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 2) by barbara hudson on Tuesday December 29 2020, @07:10PM
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by Farkus888 on Tuesday December 29 2020, @07:55PM (7 children)
Correct me if I'm wrong... Publicly traded stock. The company wilfully misled investors in a way that materially affected the price. Where is the SEC? This case should be a done deal.
(Score: 0) by Anonymous Coward on Tuesday December 29 2020, @08:03PM (4 children)
They're out partyin'... And we'll see if the fed can stuff the goose for another year
(Score: 1) by fustakrakich on Tuesday December 29 2020, @08:07PM (3 children)
Weird, I was logged in when I posted that.
La politica e i criminali sono la stessa cosa..
(Score: 0) by Anonymous Coward on Tuesday December 29 2020, @08:13PM (1 child)
Switching between accounts will likely cause such issues from time to time.
(Score: 1) by fustakrakich on Tuesday December 29 2020, @08:17PM
:-) only got one
La politica e i criminali sono la stessa cosa..
(Score: 2) by barbara hudson on Tuesday December 29 2020, @08:55PM
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 2) by FatPhil on Tuesday December 29 2020, @08:32PM
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 2) by barbara hudson on Tuesday December 29 2020, @10:09PM
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 1, Informative) by Anonymous Coward on Tuesday December 29 2020, @07:22PM
It wasn't a (garbage truck) order, it was a garbage (truck order)