--- title: "Another Brand of Electric Trucks Keeps Catching on Fire" description: "Hydrogen and electric truck maker Nikola Motor is running into some serious issues with developing its battery-powered trucks." date: "2023-09-11" modified: "2023-09-11" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/nikola-electric-trucks-keep-catching-fire" categories: - "Advanced Transport" tags: - "electric semi truck" - "nikola" - "tesla" - "the digest" --- # Another Brand of Electric Trucks Keeps Catching on Fire ![Hydrogen and electric truck maker Nikola Motor is running into some serious issues with developing its battery-powered trucks.]() *\Image: Nikola Motor\* ## Truck Fire Hydrogen and electric truck maker Nikola Motor is running into some serious issues with its battery-powered trucks. As [*Reuters* reports](), a pre-production version of one of the company's semi truck caught fire near Nikola's headquarters in Phoenix, Arizona last week, the second incident involving the company's trucks within a matter of days. That means there have been a total of four fires involving the company's Class 8 [Tre Battery Electric Vehicle (BEVs]()) trucks to date. The first fire occurred [back in June](), when a truck caught fire at the company's headquarters due to a coolant leak. Then a second truck burst into flames due to a malfunction in August, [triggering a recall]() of all the company's trucks at the time. In other words, adding two more fires to the tally following the recall isn't exactly confidence-inducing. And investors aren't impressed, with shares of the already-troubled carmaker dropping more than 50 percent over the past month alone. ## Rolling Start The company's already had a turbulent couple of years, to put it lightly. Back in 2020, former CEO Trevor Milton had a [public spat]() with Tesla CEO Elon Musk over the viability of hydrogen fuel cell-powered semi trucks, with Musk mocking him and calling the idea "[staggeringly dumb]()." Then later that year, Nikola got caught [rolling a hydrogen-powered prototype truck down a hill]() in a promotional video, indicating the truck [wasn't able to move on its own accord](). The stunt led to [several]() [fraud charges](), with Milton [stepping down weeks later](). In October 2022, a federal court [found him guilty]() of three of four counts of fraud. ## Semi-Retired Despite the major headwind, Nikola started producing its Tre electric semi trucks in 2021 under new leadership. By August 2022, the company had managed to [deliver 48 vehicles]() to dealers. So what about its hydrogen-powered trucks? Interestingly, the fuel cell variant was not affected by the August recall. Last month, the company [announced]() it had 202 orders for the fuel cell variant, indicating there is at least some appetite for a much faster-recharging truck that has an advertised range of up to 500 miles. But where the latest four electric truck fires leave the company in 2023 remains to be seen. By all indications, the last three years have been a serious wake-up call for the once-hyped hydrogen truck startup. At below $1 a share today, the company has wiped out a tremendous amount of value. Just over three years ago, its market valuation [ballooned to $31 billion](), sending it soaring past car giants Ford and Fiat Chrysler — but now its market capitalization is languishing under a billion dollars. **More on Nikola:** *[Nikola's Fake Hydrogen Truck Was Actually Plugged In During Demo, According to Lawsuit]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()