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Nikola Corp (NASDAQ: NKLA) mentioned it is moving its battery producing from Cypress, California, to its Arizona manufacturing facility.
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The transfer will carry Nikola’s truck assembly, gas mobile ability module assembly, and battery module and pack output underneath 1 roof.
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It also will include battery line automation to enhance excellent and enhance efficiencies.
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The business intends to maintain producing operations in Cypress via the end of Q2 2023 when it functions by means of a changeover program.
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Also Read through: Allison Transmission Associates With Nikola For EV Testing
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A battery engineering existence is anticipated to keep on being in California at a independent facility to focus on the growth of Nikola’s following-generation battery management process computer software and modules.
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“This final decision reinforces our determination to finding methods to optimize our expense construction and create a sustainable organization product,” mentioned CEO Michael Lohscheller.
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The shift is predicted to be comprehensive by the early third quarter.
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Value Action: NKLA shares are trading better by .86% at $2.53 on the previous test Friday.
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