EV maker Nikola names Michael Lohscheller as next CEO

Nikola Corp. said Michael Lohscheller will take over as the electric-truck maker's CEO when Mark Russell retires on Jan. 1.

Lohscheller will assume Russell's president title and will join the Nikola board effective immediately. He will become CEO on Russell's retirement, the company said on Wednesday.

Russell joined Nikola as president in 2019 and became the CEO in 2020.

Lohscheller was CEO of the German automaker Opel under three different parent companies: General Motors, PSA Group and Stellantis.

For his turnaround of Opel, a chronic money loser, Lohscheller was awarded an Automotive News Europe Eurostar Brand CEO award in 2019.

He joined Nikola this year after a short stint as CEO of VinFast Global, the automotive arm of Vietnamese conglomerate Vingroup.