The EV company Nikola, once declared dead after fraud allegations, achieved significant success with the introduction of its zero-emission hydrogen fuel cell truck to the North American market.
• Nikola launches commercial hydrogen fuel cell truck
• The new truck is expected to revolutionize the market for zero-emission Class 8 trucks
• Nikola begins delivering its trucks on a large scale
Nikola unveiled its commercial hydrogen fuel cell truck at its manufacturing facility in Coolidge, Arizona, in late September. According to the company, this truck will have one of the longest driving ranges of any commercially available Class 8 heavy-duty, zero-emission truck. With a full tank and an estimated refueling time of just twenty minutes, the vehicle has a range of 500 miles (approx. 800 kilometers). The new truck offers a wide range of possible applications, from metro-regional to intermodal transport, says Nikola.
Nikola aims for high volumes
According to company information, Nikola and its dealers have already received 223 non-binding orders for their hydrogen fuel cell electric trucks from 23 customers.
“Today we mark the official commercial launch of our advanced hydrogen fuel cell trucks into the North American market. It is a testament to our team’s relentless can-do attitude and a step closer to realizing our vision of sustainable and efficient Transport,” said Steve Girsky on the occasion of the product launch. Nikola President and CEO continued: “As we approach the fourth quarter, we are focused on delivering our trucks at scale and solidifying our position as pioneers in the hydrogen fueling network to support our customers.”
Expansion of the charging network
As Nikola continues to advance its goal of mass-producing hydrogen fuel cell electric trucks, the HYLA team is committed to ensuring a reliable hydrogen supply for needs starting in 2023 and beyond. Over the summer, Nikola in California received a total of $58.2 million in funding to build hydrogen fueling stations along busy freight routes in California. The company plans to create an open network of commercial hydrogen fueling stations, initially in California and later across North America. Up to 50 HYLA stations are to be built in North America over the next five years.
Numerous turbulence in Nikola shares
Nikola can make good use of its recent success, as the company has been in severe turbulence for some time: Nikola made the headlines in 2020 due to allegations of fraud. As it turned out, company founder Trevor Milton had made false statements about, among other things, the functionality of his own fuel cell trucks. This scandal scared off both investors and partners and the company was declared dead by many.
But Nikola survived, but repeatedly made negative headlines – including this year: Just a few weeks ago, after battery fires in its electric trucks, the company apparently asked dealers and customers to return their vehicles to the Nikola factory in Coolidge, Arizona . After these battery fires became known, Nikola shares were punished on the stock market and temporarily even fell below the one US dollar mark, which is a particularly critical level for the truck manufacturer. At the end of May it was reported that the group was threatened with delisting from the US stock exchange NASDAQ because it did not meet the minimum requirements for the offer price. Nikola shares traded below one US dollar per share for 30 consecutive trading days. Recently, however, the share was able to recover again and thus save its stock market listing.
Editorial team finanzen.net
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