Michael Lohscheller becomes CEO at Nikola

The German automotive expert takes over as CEO of the electric truck start-up, which recently had to fight serious allegations.

Detusche automotive expert Michael Lohscheller will be the next CEO of Nikola, an electric truck start-up from the US. Officially, he is to take over at the turn of the year. Mark Russell, the current chief executive, will step down, though he will remain on the board.

Lohscheller was Opel's CEO from 2017 to 2021. After that, the now 54-year-old moved to Vietnamese automaker VinFast, which he left again 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 Nikola's next CEO 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," Lohscheller said.

The past two years have been difficult for Nikola, with company founder and former CEO Trevor Milton 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.