PHOENIX — Nikola Corp. is temporarily pausing production of its Tre battery electric trucks at its Coolidge manufacturing facility as the company seeks to cut spending and refocus its business.
The Phoenix-based company will be focusing on the North American market, its HYLA hydrogen refueling business, autonomous technologies and hydrogen fuel-cell electric trucks, the company announced Tuesday in a first-quarter earnings report filed with the U.S. Securities and Exchange Commission.
“As we have sufficient inventory of the battery electric truck, we will temporarily pause production in Coolidge as we modify the assembly line to accommodate both hydrogen fuel-cell and battery electric builds on the same line,” Nikola said in its earnings report. “After we resume production in Coolidge, the battery electric Tre will remain in our lineup as a build-to-order product.”
Nikola (Nasdaq: NKLA) reported a net loss of $169 million in the first quarter, compared to $152.9 million in the first quarter of 2022, according to the regulatory filing.
