EV maker Nikola names Michael Lohscheller as its next CEO

Nikola Corp. said Wednesday that Michael Lohscheller is taking over as the electrical-truck maker’s chief government officer when Mark Russell retires on Jan. 1 future calendar year.

Lohscheller, who joined the business in February, will acquire above as president from Russell and join Nikola’s board helpful quickly, the organization mentioned.

Lohscheller, 53, was instrumental in Tre battery electric vehicles’ generation and in obtaining advancement milestones for the Tre fuel-cell electric automobiles, the company claimed.

Nikola, aiming to manufacture among 300 and 500 Tre battery electric trucks this year, trapped to its manufacturing concentrate on final week following its second-quarter earnings defeat estimates.

Lohscheller was the CEO of German automaker Adam Opel AG from conglomerate Stellantis’ secure and briefly served as Vietnamese car or truck maker VinFast’s worldwide top boss prior to taking on the role of Nikola Motor’s president.

Lohscheller has enhanced interaction and accelerated determination-generating at Nikola Motor, Chairman Stephen Girsky explained in a assertion.

Russell, 59, changed Nikola Founder Trevor Milton, accused of defrauding buyers by lying about the organization, as CEO in 2020.

Shares in Nikola rose 2.7 p.c before the bell on Wednesday.