Friday, July 12, 2024

Nikola picks Michael Lohscheller to become its new top executive

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Electric Truck Manufacturer Nikola announced on Wednesday that Michael Lohscheller will become chief executive officer replacing Mark Russell who retires on January 1 next year.

Lohscheller himself joined the company in February, will take over as CEO from Russell and soon join Nikola’s board, the company said.

Lohscheller was credited with playing an important role in the production of the Tre battery electric truck and the development of the Tre fuel cell electric truck, the company said.

Nikola himself targets the production of Tre electric trucks at 300 and 500 this year. Last week the company announced second-quarter earnings that exceeded analysts’ forecasts.

Prior to taking on the role of president of Nikola Motor, Lohscheller briefly served as CEO of Vinfast, before resigning for personal reasons.

Lohscheller is credited with improving communication and speeding decision-making at Nikola Motor, Chairman Stephen Girsky said in a statement.

Mark Russell, who is retiring on January 1 next year, replaces Founder Nikola Trevor Milton in 2020, who has been accused of defrauding investors by lying about the company.

Nikola agrees acquires Romeo Power for $144 million, to produce its own EV batteries in-house

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