Two More Nikola Trucks Are On Fire!

The recent incidents involving two more Nikola electric vehicles catching fire are undoubtedly troubling for the startup. These events occurred at different locations in Arizona, luckily without causing any injuries.

The first one happened at the Tempe facility earlier last week, and then another occurred at Nikola's HQ in Phoenix on Friday, September 8th. Nikola mentioned that the second incident involved a pre-production electric truck that was undergoing battery fire investigation and testing.

These fires are the third and fourth such incidents this summer, which have dealt a blow to Nikola's reputation. Initially, the company suspected foul play in the first fire in June, but subsequent investigations didn't support that claim.

Later on, Nikola admitted that a coolant leak likely caused the fire and initiated a recall of its Tre transport truck. These challenges have had a notable impact on Nikola's stock, with a 15 percent drop following the recent fires and a total decline of 55 percent since the recall announcement in August.

It's a tough situation for the company as it navigates these issues and strives to rebuild trust while addressing safety concerns.