Truck maker Nikola recently reduced staffing levels as it seeks to control costs.

Hydrogen fuel cell electric vehicles may be envisioned as the future workhorse of a decarbonized longhaul freight sector, but their development has proceeded at a measured pace.

Losses at truck maker Nikola more than halved year on year in the third quarter as a result of record sales, cost cutting and the absence of expenses incurred in the year-ago period.

“Despite overall market headwinds, Nikola remains focused on our mission to pioneer solutions for a zero-emission world, and we’re doing it one truck at a time,” CEO Steve Girsky said.

Polestar named Michael Lohscheller its new CEO as the electric vehicle maker seeks to stem deepening losses and fix ongoing operational problems.

Nikola Corp. reported a 103% revenue increase but wider losses in the second quarter as electric vehicle sales gained momentum, the company announced Aug. 9.

Losses at Nikola in the first quarter narrowed year-over-year, and executives are more bullish than in previous quarters about the truck maker’s prospects even as production costs soar.

Nikola Corp. produced 43 and wholesaled 40 Class 8 hydrogen fuel cell electric vehicles in the first quarter of 2024, the truck maker said.

Class 8 truck maker Nikola Corp. appointed Thomas Okray as chief financial officer March 4, ending a three-month stint where CEO Steve Girsky wore both hats.

Losses at Class 8 vehicle manufacturer Nikola Corp. narrowed 30.8% year-over-year in the fourth quarter of 2023 as research and development costs plummeted.