Nikola (NKLA) Sharpens Focus, Reduces Cash Spend

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Go back to Nikola (NKLA) Sharpens Focus, Reduces Cash Spend

NIKOLA SHARPENS FOCUS, REDUCES CASH SPEND

June 16, 2023 4:04 PM EDT

Annual cash usage expected to decrease to under $400M by 2024Reorganizing workforce around new areas of focus and eliminating non-essential spendContinuing to take actions geared toward optimizing and protecting ongoing operationsQ3 launch of the hydrogen fuel cell electric truck on scheduleHYLA hydrogen energy business making strong progress with multiple partnerships, first-mover infrastructure advantage

PHOENIX, June 16, 2023 /PRNewswire/ --... More