(Reuters) – Nikola posted a wider loss in the third quarter on Thursday, after the electric truck maker suspended sales and recalled its battery-electric heavy duty trucks.
The company in August recalled all the 209 battery-powered electric trucks that it had delivered and suspended sales after an investigation into recent fires found a coolant leak inside a battery pack as the cause.
It said cost of the recall and repair is expected to be $61.8 million, which includes the cost to re-engineer, validate and retrofit trucks with an alternative battery solution.
Net loss for the quarter ended Sept. 30 stood at $425.8 million, compared with $236.2 million a year earlier.
Nikola said it shipped three trucks in the third quarter, compared with 63 battery-electric trucks in the same period last year.
(Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)
