Nikola Motors – Founder still wreaking havoc


July 14, 2022

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Nikola Motors – Founder still wreaking havoc

The battery-electric Nikola Tre BEV, © Nikola

The battery-electric Nikola Tre BEV, © Nikola

The expansion of the company is proceeding according to plan. Prototypes will be delivered so that customers can familiarize themselves with the vehicles (battery-electric and hydrogen-powered). The first successes can be reported: ten MCTs (Mobile Charging Trailers) have already been delivered (1.9 million USD in sales), which can fully charge battery-electric trucks in a hundred minutes.
Ten Tre BEV units have already been delivered, and 40 in total produced. All for testing by customers and sales partner companies. TTSI (Total Transportation Services Inc.) has already covered over 11,000 miles with the trucks in daily use. Ten Tre units were confirmed for the subsidy program in California – at least 150,000 USD per truck subsidized. Since the end of March, 134 of the trucks have been requested through this alone. So 510 Tre BEVs are now in the order books – full utilization of the current capacity until the end of the year, if all are delivered.

With the hydrogen-powered Tre FCEV (FCEV = fuel cell electric vehicle), major customer Anheuser-Busch is already carrying out test runs and has already put 12,000 miles on it in daily operation. And 19 test vehicles are to be on the road. Series production will then begin in the second half of 2023. Through letters of intent, Nikola already has 1,010 trucks in the books.


In addition, Nikola is building the first H2 stations (refueling time under 20 minutes) and has set itself on self-production of hydrogen, since the company not only wants to sell trucks, but also earn money from the energy source. TC Energy supplies 60 tonnes of hydrogen per day. The next goal is 150 tonnes per day, with Nikola itself also investing in the production (waste-to-hydrogen).

Nikola is now represented in 27 US states at 127 locations (sales partners). The building up of capacity is going according to plan: 2,500 units can now be supplied per year from Coolidge – first, battery-electric and then, from 2023, hydrogen-powered as well. By 2023, the capacity should already be increasable to 20,000 units.
The figures for the second quarter: The quarterly loss amounted to 152.9 million USD. However, in this was included stock-based compensation in the amount of 44.8 million USD, so it is not the operating loss. And legal fees in the amount of 14.1 million USD from the legal dispute with former CEO Milton. Here is still a chance that Nikola recovers the amount from the settlement with the SEC (US Securities and Exchange Commission).[…]


… Read this article to the end in the latest H2-International

Each investor must always be aware of their own risk when investing in shares and should consider a sensible risk diversification. The FC companies and shares mentioned here are small and mid cap, i.e. they are not standard stocks and their volatility is also much higher. This report is not meant to be viewed as purchase recommendations, and the author holds no liability for your actions. All information is based on publicly available sources and, as far as assessment is concerned, represents exclusively the personal opinion of the author, who focuses on medium- and long-term valuation and not on short-term profit. The author may be in possession of the shares presented here.

Author: Sven Jösting, written June 11th, 2022

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