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    <li>
      <p>
        Nikola, a developer of heavy-duty battery-electric (BEV) and fuel-cell electric vehicle (FCEV) trucks, has partnered with IMC, America's largest marine drayage company, to incorporate 50 FCEV trucks into IMC's fleet.
      </p>
    </li>
    <li>
      <p>
        The partnership is part of a strategic deal that has been in progress since 2023 between the two parties. Nikola has completed the delivery of 10 trucks in 2023, with plans to deliver 10 more trucks within the month and to complete the delivery of the remaining 30 trucks by the end of 2024.
      </p>
    </li>
  </ul>
  <p>
  </p>
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  <p>
    <a href="https://www.nikolamotor.com/imc-unveils-design-of-its-50-nikola-hydrogen-fuel-cell-electric-trucks-at-grand-opening-of-sustainable-facility/">
      <b>Press release</b>
    </a>
  </p>
</div>


Truck Industry Tech

PROMINENT_CATEGORY

<div>
 <p>Nikola, a manufacturer of heavy-duty battery-electric (BEV) and fuel-cell electric vehicles (FCEV), established a partnership with IMC, the largest marine drayage company in the U.S., to add 50 FCEV trucks to IMC's fleet.</p>
 <p>This collaboration is part of a strategic agreement ongoing since 2023 between Nikola and IMC. In 2023, Nikola delivered 10 trucks and intends to provide an additional 10 trucks within the month. The delivery of the remaining 30 trucks is slated for completion by the end of 2024.</p>
 
</div>

Nikola partners with IMC to launch hydrogen fuel-cell electric truck fleet

Hydrogen Economy

ANALYST_QUICK_TAKE

<div>
 
 <p>Nikola Motor Company, known for developing heavy-duty battery-electric and fuel-cell electric trucks, has announced the appointment of Thomas B. Okray as chief financial officer (CFO). Okray replaces Stephen Girsky, the CEO who had assumed the role of interim CFO since February 2024.</p>
 <p>Prior to joining Nikola, Okray held executive roles, including EVP and CFO, at Eaton Corporation. His extensive experience also spans senior positions at prominent firms such as Amazon, Advance Auto Parts, and Grainger. In addition, Okray contributes to several boards including Flowserve Corporation, The Cleveland Orchestra, and The City Mission.</p>
 <p>With over four decades in the industry, Okray holds a bachelor's degree in chemical engineering from Michigan State University and a Master of Business Administration from the University of Chicago.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> This marks Okray’s fourth CFO role as he becomes Nikola’s third CFO within the past year. The appointment also comes on the heels of the company beating expectations for its Q4 2023 earnings, which was preceded by a rocky third quarter that saw the company recall all 209 of its BEV heavy-duty trucks over concerns of coolant leaks in their battery packs.</p>

Nikola appoints Thomas B. Okray as CFO

<div>

 <p>The Nikola Motor Company, specializing in heavy-duty battery-electric and fuel-cell electric vehicles, has opened its first HYLA hydrogen refueling station in Southern California. This station aims to cater to hydrogen refueling systems for heavy-duty trucks. </p>
 <p>Every day, the HYLA station can refuel up to 40 hydrogen fuel cell electric trucks. It forms part of a broader initiative to establish up to 60 hydrogen refueling solutions, with nine planned to be set up by Q2 2024.</p>
 <p>As per Nikola's reports, upon successful setup of the proposed nine stations by mid-2024, it will own one of the largest heavy-duty hydrogen refueling networks globally.</p>

</div>

Nikola opens its first HYLA hydrogen refueling station in Southern California

INCUMBENTS_PRESENT

Nikola, a heavy-duty battery-electric (BEV) and fuel-cell electric vehicle (FCEV) trucks developer, has partnered with ZF Group, a commercial vehicles technology solutions developer. The partnership will see Nikola's Class 8 zero-emission trucks integrated with ZF's safety technologies. These include the advanced automatic emergency braking (AEB) system, OnGuardMAX, and the radar-based blind spot detection (BSD) system, OnSideALERT. OnGuardMAX can identify and respond to both moving and stationary objects while OnSideALERT aids in reducing the risk of side collisions by detecting blind spots.

Nikola partners with ZF Group to integrate safety technologies in FCEVs

DISRUPTOR_PRESENT

<div>
 
 <ul>
  <li><p>Nikola Motor Company (Nikola), a developer of heavy-duty battery-electric (BEV)&nbsp;and fuel-cell electric vehicle (FCEV) trucks, has been granted USD 165 million in an arbitration case against its former executive chairman, Trevor Milton.</p></li>
  <li><p>This award is to compensate for expenses and losses stemming from government investigations, including a December 2021 SEC settlement.</p></li>
  <li><p>Trevor Milton, who resigned from Nikola in 2020, faced legal issues and was found guilty of fraud <a href="https://www.cnbc.com/2022/10/14/nikola-nkla-founder-trevor-milton-found-guilty-of-fraud-.html"> in October 2022. </a></p></li>
 </ul>
 
</div>

Nikola wins USD 165 million in arbitration proceedings with founder Trevor Miltion

The Nikola Motor Company (Nikola), known for its electric vehicle trucks, has received a $165 million award in an arbitration case against its former executive chairman, Trevor Milton. The money is meant to cover expenses and losses related to government investigations, including a settlement with the SEC in December 2021. Trevor Milton, who left Nikola in 2020, has faced legal troubles and was recently found guilty of fraud in October 2022 (source: <a href="https://www.cnbc.com/2022/10/14/nikola-nkla-founder-trevor-milton-found-guilty-of-fraud-.html">CNBC</a>).

<div>
    <ul>
        <li>
            <p>Nikola Motor Company (Nikola), a developer of heavy-duty battery-electric (BEV) and fuel-cell electric vehicle (FCEV) trucks, has commercially launched its hydrogen FCEV at its manufacturing facility in Arizona.</p>
        </li>
        <li>
            <p>The Nikola FCEV truck has a range of up to 500 miles and is claimed to be one of the longest range zero emission Class 8 trucks available.</p>
        </li>
        <li>
            <p>The company has received 223 non-binding orders for FCEV trucks to date from 23 customers including <a href="https://sp-edge.com/updates/20702"> J.B. Hunt </a>, AJR Trucking, Biagi Bros., and Total Transportation Services Inc (TTSI).</p>
        </li>
    </ul>
</div> <p><b>Analyst QuickTake: </b> Nikola commenced the serial production of its FCEVs in July 2023. The commercial launch is in line with the company’s <a href="https://sp-edge.com/updates/20745"> plans </a> to commence customer deliveries in September.</p>

Nikola launches FCEV truck commercially

Nikola Motor Company has officially launched its hydrogen fuel-cell electric vehicle (FCEV) truck, which has a range of up to 500 miles. The company has received 223 non-binding orders for the FCEV trucks from 23 customers, and it plans to start customer deliveries in September. Nikola began serial production of its FCEVs in July 2023.

Nikola Motor Company has partnered with ITD Industries to expand its dealer network in Canada. ITD will integrate Nikola's electric trucks into its product lineup and promote them through its sales channels. This partnership will allow Nikola to take advantage of Canada's zero-emission vehicle-friendly environment. ITD is a qualified dealer under the iMHZEV Program, offering incentives toward the purchase or lease of zero-emission vehicles. Nikola will also be eligible for Clean BC Go Electric Rebates in British Columbia, providing incentives for the purchase or lease of fuel-cell or battery-electric trucks.

All Updates

Nikola partners with IMC to launch hydrogen fuel-cell electric truck fleet

Nikola appoints Thomas B. Okray as CFO

Nikola opens its first HYLA hydrogen refueling station in Southern California

Nikola partners with ZF Group to integrate safety technologies in FCEVs

Nikola wins USD 165 million in arbitration proceedings with founder Trevor Miltion

Nikola wins USD 165 million in arbitration proceedings with founder Trevor Miltion

Nikola launches FCEV truck commercially

Nikola launches FCEV truck commercially

Nikola partners with ITD industries to expand dealer network into Canada

Stephen Girsky appointed as Nikola’s CEO; Michael Lohscheller steps down from the role