Electric truck maker Nikola Corp (NASDAQ:NKLA) is recalling 72 battery-electric trucks citing concerns that the instrument panel may fail to display critical safety information, the National Highway Traffic Safety Administration (NHTSA) said on Saturday.
What Happened: The recall population includes model year 2022- 2023 battery-electric trucks made by the company. The instrument panel in the vehicles may go black, preventing the driver from seeing necessary information such as speed and range and increasing the risk of a crash, the auto safety regulator said.
As for a solution, the company's dealers will replace the instrument panel, free of cost to the customer, it added.
The company is not aware of any injuries or property damage associated with the issue.
Why It Matters: Nikola initially began delivering battery electric trucks before its hydrogen fuel cell electric trucks. However, following a few fire incidents, the BEV trucks were subsequently recalled in August 2023. The company is now returning the recalled battery electric trucks to customers with improved battery packs, renamed BEV 2.0.
Late last month, during Nikola's third-quarter earnings call, company CFO Tom Okray said that while the company has returned 78 trucks that were part of the recall back to customers and dealers, it is yet to deliver another 81 trucks that were part of the recall.
Nikola reported third-quarter revenue of $25.18 million, missing analyst estimates of $37.23 million. The EV maker reported a third-quarter adjusted loss of $2.75 per share, missing estimates for a loss of $2.35 per share.
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Image Courtesy of Nikola Corporation
