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PHOENIX, AZ (February 26, 2019) -- Nikola Corporation today announced that Mark Russell has joined its executive management team as president. JP Morgan analyst Paul Coster said in a research note Nikola is trying to "re-establish control of the narrative around the company."

Nikola shares rose as high as US$21.59 and were still up 17.5per cent at US$21.02 in afternoon trading.

Russell said talks continue to finalize an alliance with GM but declined further comment. ’s a decade ago.

Nikola CEO Mark Russell. From Los Angeles, the U.S. capital of cars and congestion, I try to make sense of technology-driven changes reshaping transportation, cities and how we get around.

Mark A Russell is President/CEO at Nikola Corp. See Mark A Russell's compensation, career history, education, & memberships. Initially, the company will source battery-electric Nikola Tre semis built in partnership with CNH’s Iveco unit in Germany for sale in Europe and the U.S. in 2021. "We needed the best. You may opt-out by, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change. Copyright© Mediacorp 2020.

Russell has been building and managing companies in the manufacturing industry for over 20 years, helping them grow profitably while building significant value for investors. Russell and Girsky on Wednesday declined to comment on probes by securities regulators or the Department of Justice. Mark's background and experience match well with the challenge to ramp up production of the extraordinary vehicles we will unveil at Nikola World on April 16 and 17," said Trevor Milton, founder and CEO of Nikola.

For more information, visit nikolamotor.com or Twitter: @nikolamotor.

The company may raise an additional $700 million between late 2021 and early 2022, according to the filing. Russell, 56, joins Nikola at a time when the company is poised to start production of several groundbreaking zero … Russell, who was president and COO at Midwestern industrial conglomerate Worthington Industries before joining Nikola in February 2019, held stock and options in …

While industrial hydrogen is typically sourced from natural gas, new methods for generating “green” hydrogen from water and electricity from solar or wind farms have made the fuel much more compelling to environmental regulators in California, Europe, Japan, South Korea and China. Find me on Twitter at @alanohnsman, © 2020 Forbes Media LLC. Russell, who was president and COO at Midwestern industrial conglomerate Worthington Industries before joining Nikola in February 2019, held stock and options in the Phoenix-based company worth a little over $1.3 billion as June 12, Forbes estimates. MEDIA CONTACT: Colleen Robar, crobar@robarpr.com, 313-207-5960. Mediacorp Pte Ltd. All rights reserved. Backed by investors that include private equity heavyweight Blackstone Group Nikola Corporation designs and manufactures electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. PHOENIX, AZ (February 26, 2019) -- Nikola Corporation today announced that Mark Russell has joined its executive management team as president. On Wednesday, Nikola stepped up its efforts to regain investor support with a lengthy statement defending its business model and technology. Hindenburg officials declined to comment. , ValueAct and European commercial vehicle maker CNH Industrial

Nikola’s founder, who left college in his freshman year, briefly worked for Russell at Worthington, which provided early-stage funding for Nikola. A potential competitor to Elon Musk’s Tesla in electric trucks (which it’s suing for design infringement), Nikola raised about $600 million prior to its Nasdaq listing to get its hydrogen semis into production at a plant in Coolidge, Arizona.

All content was current only as of the date originally presented. Russell said Nikola's success did not depend on partners, but they "increase the odds of succeeding.". (For more, see “Behind New Billionaire Trevor Milton’s $3 Billion Push To Make America Run On Hydrogen” from the September 30, 2019 issue of Forbes magazine.). It reaffirmed its timetable for launching vehicles and announcing partnerships. The Phoenix-based company, which won’t generate meaningful revenue until 2022, reported about $699 million of cash at … The information on Nikola’s website, inclusive of presentations, press releases, earnings call transcripts, reports, and all other information, may contain forward-looking statements, estimates or projections based on expectations as of the original date of those materials. There have been reports this week that Nikola's talks with energy firms, including BP Plc , had stalled. Those statements, estimates and projections are subject to certain risks and uncertainties that could cause actual results to differ materially.

Nikola said it still expects to break ground on its first commercial hydrogen station in the second quarter of 2021. Fuel cell technology, which makes electricity in a chemical reaction involving hydrogen and oxygen with only water vapor as a byproduct, has been around since the 1960s, but earlier iterations were far too costly and not durable enough for heavy daily use. He retains that title in addition to being CEO. Mark has 9 jobs listed on their profile. Russell has also been a business mentor to brash 38-year-old entrepreneur Milton. Girsky, who joined Russell in the interview, said Nikola will be as much a service provider, generating revenue from refueling and other after-sale businesses, as a manufacturer of vehicles.

ABOUT NIKOLA MOTOR COMPANY The company estimates sales will jump from $150 million in 2021 to $3.2 billion by 2024 as production ramps up.

Nikola's shares have lost more than half their value since announcing on Sept. 8 a prospective alliance with General Motors Co to produce an electric pickup and fuel cell commercial trucks. , Nikola’s speedy listing on Nasdaq this month (via a reverse merger with VectoIQ) is the most audacious Wall Street debut for a high-tech transportation startup since Tesla It’s also preparing to announce a separate production alliance with an unnamed automotive company to manufacture its Badger fuel cell pickup. Nikola’s Coolidge, Ariz. manufacturing facility is scheduled to come online in 2022 and will be capable of building up to 35,000 trucks per year at full production.

NDAQ Nikola has said it has discussed Hindenburg Research's charges with the Securities and Exchange Commission and will "fully cooperate" with the agency's inquiry. Nikola is led by its visionary CEO Trevor Milton (Twitter: @nikolatrevor), who has assembled one of the most talented teams in the country to bring the Nikola products to market.

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