Nikola has postponed the Nikola World event. This means that the unveiling of the electric pick-up Badger is also delayed. The event cannot go ahead, according to Nikola, due to the restrictions imposed by the state of Arizona around Covid-19. No new date has been announced yet.
Nikola World should have taken place from December 3rd to 5th. That will take a while, but apparently Nikola already thought it necessary to cancel the event. According to an email that Bloomberg people who have bought tickets can get their money back. They can also choose to save them for when a new date is announced. Nikola’s stock price did not fall extremely due to the news. So it seems investors are confident in a happy ending.
However, the question is whether Nikola will announce a new date for the event. The company has recently been in dire straits thanks to a report from research firm Hindenburg Research. That even led to founder and CEO Trevor Milton to leave. As a result, the company’s stock price made a dive, but it is now recovering.
For the Badger, Nikola has a partnership with General Motors, with GM supplying the powertrains for the pickup and taking care of the assembly. Despite all the fuss, GM has not pulled out of the deal. If everything goes according to plan, the first Badger should roll off the production line at the end of 2022.