Please ensure Javascript is enabled for purposes of website accessibility

Nikola Hires Industry Executives to Lead Energy and Manufacturing

By Howard Smith – Jun 11, 2020 at 7:14PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Former Tesla Director of Manufacturing joins electric-truck startup that recently entered public markets.

Hydrogen fuel cell and battery electric-vehicle maker Nikola Corp. (NKLA -4.66%) announced the addition of two new executives today to lead the energy and manufacturing areas. The company, which went public a week ago, said former Caterpillar Inc. executive Pablo Koziner will be president of Nikola Energy, leading the hydrogen fueling and battery charging business. Mark Duchesne will become global head of manufacturing. Duchesne has spent time at Toyota Motor, Tesla, and most recently, Chinese electric-vehicle maker Byton. 

Nikola, founded by Trevor Martin in 2015, went public through a combination with special-purpose acquisition company (SPAC) VectoIQ last week, and its market capitalization briefly touched $30 billion, eclipsing the value of Ford Motor

Nikola Corp. electric semi truck driving on highway

Image source: Nikola Corp.

Koziner spent more than 18 years with Caterpillar as president of solar turbines and most recently as vice president of Caterpillar's electric-power division. Duchesne spent 22 years in various manufacturing roles with Toyota prior to joining Tesla and eventually became director of manufacturing. He left Tesla in 2016 and spent four years with Byton in senior manufacturing roles. 

Nikola has yet to produce a vehicle but is breaking ground on a new manufacturing facility in Arizona. It's working to launch its Class 8 Nikola Tre BEV in Ulm, Germany with joint venture partner IVECO. The company expects to generate revenue by 2021 from the heavy-duty semi-truck Tre BEV, with a buildout of hydrogen fueling stations to serve its customers. 

Howard Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Nikola Corporation Stock Quote
Nikola Corporation
$3.89 (-4.66%) $0.19
Ford Motor Company Stock Quote
Ford Motor Company
$12.31 (-3.60%) $0.46
Tesla, Inc. Stock Quote
Tesla, Inc.
$275.33 (-4.59%) $-13.26
Toyota Motor Corporation Stock Quote
Toyota Motor Corporation
$137.28 (-1.27%) $-1.77
Caterpillar Inc. Stock Quote
Caterpillar Inc.
$164.24 (-3.70%) $-6.31

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/25/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.