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Nikola loses fuel-cell development head, shares fall

Ken Williams by Ken Williams
April 7, 2021
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Nikola mentioned on Wednesday its fuel-cell growth head, Jesse Schneider, has left the corporate to pursue alternatives within the hydrogen business, sending shares of the electric-truck maker down 5%.

The departure comes simply over a month after Nikola disclosed particulars on its hydrogen fuel-cell-powered product lineup that may embrace automobiles with a driving vary of as much as 900 miles.

Schneider, who spent three years on the startup as an govt vice-president, oversaw the event of its gasoline cell and hydrogen group, Nikola mentioned in an announcement.

The corporate has been within the limelight ever since a short-seller accused it of fraud in September final yr, resulting in the resignation of founder Trevor Milton. Nikola had publicly rejected all accusations.

In February, nevertheless, Nikola disclosed that the corporate and Milton had made a number of statements that have been partially or fully inaccurate, after an inside evaluation.

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