Michael Lohscheller becomes CEO at Nikola

The German automotive expert takes over the management of the electric truck start-up, which has recently had to battle serious accusations.

The German automotive expert Michael Lohscheller is to become the next CEO of Nikola, an electric truck start-up from the USA. He will officially take over at the turn of the year. Mark Russell, the current CEO, will step down but remain on the board.

Lohscheller was CEO of Opel from 2017 to 2021. The 54-year-old then moved to the Vietnamese car manufacturer VinFast, which he left after a short time. At Nikola, he will oversee the introduction of hydrogen and battery-powered electric trucks in the future. "I am honored and excited to succeed Mark as the next CEO of Nikola as we continue our journey as a pioneer in zero-emission transportation and infrastructure solutions. [...] We are well positioned to capitalize on the growth opportunities ahead and accelerate our strategic initiatives," said Lohscheller.

The past two years have been difficult for Nikola as the company's founder and former CEO Trevor Milton was accused of fraud. He allegedly misled investors about the company's developments and technologies. Nikola's share price has fallen as a result. The presumption of innocence applies.