Shares of Nikola Corp (NKLA) are down by double-digits after the electric truck maker announced its fourth CEO, Michael Lohscheller, is stepping down, effective immediately.
Nikola gets a new CEO amid crunchtime
Lohscheller joined Nikola as president in February 2022, taking over as CEO in August after then-CEO Mark Russell announced his retirement.
The company said the move comes due to a family health matter where Lohscheller will be returning to Europe. He will remain at Nikola as an adviser through the end of September to support the transition.
Steve Girsky, chair of the board since September 2020, has been named the new Nikola CEO. Girsky will remain a member of the board, while Steve Schindler will be promoted to chair.
Girsky will be Nikola’s fourth CEO in just a few years. After the appointment, Girsky said, “Since Nikola’s inception, I have been a champion of its mission. I am energized to take on this role and build upon the work of Michael and the team.”
Nikola also reported its second-quarter earnings on Friday, revealing growing net losses and lower production.
Nikola Q2 2023 earnings highlights (Source: Nikola Corp)
The company built 33 trucks in Q2, down from 50 in the same period last year. Shipments to dealers also fell from 48 last year to 45 in the second quarter. Nikola has now made 96 trucks this year, shipping 76 of them. Meanwhile, the company had its best retail quarter delivering 66 Tre BEV electric trucks.
On July 31, Nikola officially began serial production of its hydrogen fuel cell truck. According to the company, 18 customers have ordered over 200 units.
Nikola says the phase 2 assembly expansion is complete, with the new mixed-model line installed. The facility’s current capacity is 2,4000 trucks per year (on three shifts).
Nikola Tre BEV (Source: Nikola)
Amid the slowing deliveries, Nikola generated $15.4 million in revenue, down nearly 14% from 2022. Gross margins also slipped from 161% last year to 180% in Q2.
Overall, Nikola posted a net loss of $217.8 million, compared to a loss of $173 million in Q2 2022. The company ended the quarter with $226 million in cash, roughly unchanged from last year ($225.8 million).
Looking ahead, Nikola expects to deliver 300 to 400 trucks this year with targeted revenue between $100,000 and $130,000. Nikola is forecasting between 60 and 90 truck deliveries in Q3.
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On today’s exciting episode of Quick Charge, we don’t even mention “you know who,” focusing instead on EV news from Rivian, Lucid, Nissan, Ford, and what it takes to make a MAN in the heavy truck space. Check it out!
Sure, Nissan is pushing back production estimates on its yet-to-begin-production Nissan LEAF and Ford’s EV sales were down significantly in Q2, but there’s more to the story than the “Faux News” crowd would have you believe. Plus: some new electric success stories from Porsche and a disappointing (but still cool) dive into some new home backup battery tech.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Battery electric cars sold today in Europe produce 73% less life-cycle greenhouse gas emissions than gas cars, even when factoring in production, according to new research from the International Council on Clean Transportation (ICCT). That’s a big improvement from 2021, when the gap was 59%.
Meanwhile, hybrids and plug-in hybrids haven’t made much progress. The study confirms what clean transportation advocates have been saying for years: If Europe wants to seriously slash emissions from its dirtiest mode of transport – ICE passenger cars, which pump out nearly 75% of the sector’s pollution – it needs to go all-in on battery EVs.
“Battery electric cars in Europe are getting cleaner faster than we expected and outperform all other technologies, including hybrids and plug-in hybrids,” said ICCT researcher Dr. Marta Negri. Credit the continent’s rapid shift to renewables and the higher energy efficiency of EVs.
The makeup of the EU’s power grid is changing fast. By 2025, renewables are expected to generate 56% of Europe’s electricity, up from 38% in 2020. And that’s just the beginning: the share could hit 86% by 2045. Since cars bought today could still be on the road two decades from now, the growing use of clean electricity will only boost EVs’ climate benefits over time.
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Gas-powered cars, on the other hand, will stay mostly tied to fossil fuels as the cost and availability of biofuels and e-fuels are still uncertain.
Hybrids and plug-in hybrids only cut lifetime emissions by 20% and 30%, respectively, compared to gas cars. That’s partly because plug-in hybrids tend to run on gas more than expected. So while hybrids aren’t useless, they’re just not good enough if we’re serious about climate goals.
Countering EV myths with hard data
There’s been a lot of noise lately about whether EVs are really that green. The ICCT study takes aim at the bad data and misleading claims floating around, like ignoring how the grid gets cleaner over time or using unrealistic gas mileage figures.
It’s true that manufacturing EVs creates more emissions upfront – about 40% more than making a gas car, mostly due to the battery. But EVs make up for it quickly: that extra emissions load is usually wiped out after about 17,000 km (10,563 miles) of driving, which most drivers hit in a year or two.
“We’ve recently seen auto industry leaders misrepresenting the emissions math on hybrids,” said Dr. Georg Bieker, senior researcher at the ICCT. “But life-cycle analysis is not a choose-your-own-adventure exercise.”
ICCT’s new analysis includes emissions from vehicle and battery production and recycling, fuel and electricity production, and fuel consumption and maintenance. It even adjusts for how the electricity mix will change in the coming years – a key detail when measuring plug-in hybrid performance.
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The EV2 may be Kia’s smallest electric vehicle, but it has a big presence on the road. Kia promises it won’t feel so small when you’re inside, thanks to clever storage and flexible seating. After a prototype was spotted testing in the Alps, we are getting our closest look at the Kia EV2 so far.
Kia EV2 spotted in the Alps offers our closest look yet
Kia first unveiled the Concept EV2 during its 2025 EV Day event (see our recap of the event) in April, a preview of its upcoming entry-level electric SUV.
Despite its small size, Kia claims it will “redefine urban electric mobility” with new innovative features and more. Kia has yet to say exactly how big it will be, but given it will sit below the EV3, it’s expected to be around 4,000 mm (157″) in length. The EV3 is 4,300 mm (169.3″) in length.
Looking at it from the side, it sits much higher than you’d expect, similar to Kia’s larger EV9. During an exclusive event at Milan Design Week in April, Kia gave a sneak peek of the interior.
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Kia said the interior is inspired by a “picnic in the city,” or in other words, a retreat from the busy city life. With a flat-floor design and flexible seating, you can quite literally have a picnic in the city.
Kia Concept EV2 (Source: Kia)
Although we’ve seen the EV2 out in public testing a few times, a new video provides the closest look at Kia’s upcoming electric SUV.
The video, courtesy of CarSpyMedia, shows an EV2 prototype testing in the Alps with European license plates. There’s also a “Testfahrt” sticker on the back, which translates to “Test Car” in German.
Kia EV2 entry-level EV caught testing in the Alps (Source: CarSpyMedia)
As the prototype drives by, you can get a good look at it from all angles. Like in past sightings, the front features stacked vertical headlights with Kia’s signature Star Map lighting. Even the rear lights appear to be identical to those of the concept.
The interior will feature Kia’s next-gen ccNC (connected car Navigation Cockpit) infotainment system. The setup includes dual 12.3″ instrument clusters and infotainment screens in a curved panoramic display. Depending on the model, it could also include an added 5.3″ climate control screen.
Last month, a crossover coupe-like model was spotted on a car carrier in Korea, hinting at a new variant. The new model featured a design similar to that of the Genesis GV60.
Kia’s CEO, Ho Sung Song, also recently told Autocar that a smaller, more affordable EV was in the works to sit below the EV2. Song said the new EV, priced under €25,000 ($30,000), was “one area we are studying and developing.”
With the EV4 and EV5 launching this year, followed by the EV2 in 2026, it could be closer toward the end of the decade before we see it hit the market. Next-gen EV6 and EV9 models are also due out around then.
The Kia EV2 is set to launch in Europe and other global regions in 2026. Unfortunately, it’s not expected to make the trip to the US.
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