Nikola Corporation for their 9 months in 2021 had not made any revenue, and currently facing a 500,000 USD loss. However, the brand is still valued at 3.2 billion USD. Recently, VinFast’s former CEO has been appointed to President of Nikola Motor.

Nikola Corporation, a specialist in zero-emission vehicles and energy infrastructure solutions, has announced the appointment of Michael Lohscheller as President of Nikola Motor. He will be responsible for the expansion of Nikola’s global truck business.

Mr. Michael Lohscheller was born in 1968, Germany. During his 20 years in the automotive industry, Mr. Michael Lohscheller held key management positions such as Executive Vice President and Chief Financial Officer at Mitsubishi Motors Europe; Executive Vice President and CFO at Volkswagen USA; Opel Global General Manager…

Mr. Michael Lohscheller is one of the leading experts in the automotive industry in the world. His legacy had led Opel to steady profit growth after years of losses and converted Opel to an electric vehicle brand.

For Nikola Corporation, the group’s financial statements show that 2019 revenue was $482,000. In 2020, the revenue was only 95,000 USD. Notably, during the first 9 months of 2021, they did not earn any money and has had no revenue for 5 consecutive quarters. For this reason, Nikola Corporation reported a loss of about half a million USD in the period. In 2019 and 2020, this group also reported losses. Even so, on Nasdaq, this business has a market capitalization of about $3.2 billion.

Before becoming Chairman of Nikola Motor, Michael Lohscheller worked for about 4 months at Vingroup. Specifically, at the end of July 2021, he was appointed General Director of VinFast to expand business activities and promote VinFast to the world. By early September 2021, Mr. Lohscheller officially started working at VinFast.

At the Los Angeles Auto Show in mid-November 2021, Mr. Lohscheller appeared to introduce VinFast’s electric vehicles, including VF e34, VF e35 and VFe36 (these models were later renamed to VF7, VF8, VF9).

However, just over a month later, at the end of December 2021, Vingroup announced the appointment of Ms. Le Thi Thu Thuy as the General Director of VinFast globally, replacing Mr. Michael Lohscheller.

Source: autopro.com.vn