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Earnings/results
Nikola to begin trial production in June; secures 100 more preorders in Q1 2021
Truck Industry Tech
May 7, 2021
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Truck Industry Tech

Truck Industry Tech

May 7, 2021

Nikola to begin trial production in June; secures 100 more preorders in Q1 2021

Earnings/results

  • Nikola Motor Company (Nikola), a developer of heavy-duty battery-electric vehicle (BEV) and fuel cell electric vehicle (FCEV) trucks, reported its Q1 2021 results today and revealed that the company is nearing completion of its manufacturing facility in Ulm, Germany, which started as a joint venture (JV) with the Italian alternative fuel-powered vehicle manufacturer, IVECO. The company plans to begin trial production in June this year while also developing another facility in Coolidge, Arizona.

  • The company has commissioned and validated testing of its first batch of five beta Nikola Tre BEVs produced at its German facility in Q1 2021. The second batch of beta Nikola Tre BEVs is nearing completion at the same facility, with plans to ship them to the company's headquarters in Arizona for testing. The company has also started assembling Nikola Tre FCEV alphas at its two facilities in Germany and Arizona this quarter.

  • Nikola also announced a collaboration with Total Transportation, a California-based port trucking company, for vehicle trials at the Port of Los Angeles and Long Beach and signed a letter of intent (LOI) to order 100 Nikola BEV and FCEV semi-trucks. 

  • Nikola develops hybrid (battery-electric and hydrogen electric-powered) heavy-duty trucks, as well as energy infrastructure solutions. The company has announced several zero-emissions vehicle design concepts since 2016, including Nikola One, Nikola Two, Nikola Tre, and Nikola Reckless.

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