Nikola Corporation (NASDAQ:NKLA) disclosed on Friday that there was a thermal incident with one engineering validation battery-electric truck near the company’s headquarters in Phoenix. “This pre-production truck was outside and undergoing battery fire investigation and testing,” read a statement from Nikola. The truck was noted to be a pre-production unit that was undergoing battery fire investigation and testing. Nobody was injured during the incident.
The electric truck fire was the second of the week for Nikola (NKLA) and appears to be the fourth overall. Last month, Nikola (NKLA) cited a coolant leak inside a battery pack as the cause of ones of the fires that it originally alleged could have been caused by foul play. The company recalled 209 of its Tre battery-electric trucks due to the determination of a coolant issue. Sales of battery-electric trucks were halted at the time.
Shares of Nikola (NKLA) fell 15.38% on Friday and are more than 60% lower for 2023. Short interest on the stock is still over 20%, despite the sharp drop in share price.
What to watch: Nikola Corporation (NKLA) CEO Steve Girsky will hold a fireside chat and Q&A session for stockholders on September 13. Nikola (NKLA) will utilize a Q&A platform to allow verified retail and institutional investors to submit and upvote questions. During the event, Girsky will address a selection of questions submitted. Questions on the battery pack fires are likely to be front and center.