Nikola cites strong demand for battery-electric trucks
Nikola announced it doubled retail deliveries of its Tre battery-electric trucks in the second quarter, bringing the year-to-date total to 99 trucks.
It has sold 76 trucks this year through wholesale channels and has built 96 trucks. The company will release financial results Aug. 4.
“It is not easy being a pioneer in the zero-emission Class 8 truck space, but we are witnessing a remarkable surge in momentum,” Nikola CEO Michael Lohscheller said in a delivery update. “We take great pride in our current achievements and the influx of orders coming in for our soon-to-be-produced hydrogen-fuel-cell-electric truck. I believe there has not been a better time to be at Nikola as we move forward, together.”
Nikola recently announced a business optimization plan that involved stronger focus on North American zero emissions truck production and its Hyla hydrogen fueling business. It plans to launch a Class 8 hydrogen-fuel-cell-electric truck in the third quarter and says it has 178 sales orders from 14 customers.
The company consolidated production activities at its Coolidge, Ariz., plant so it can build both hydrogen and battery-electric trucks on one assembly line.
It also trimmed headcount by about 150 people in Europe and 120 in North America.
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I think the short sellers of Nikola stock should put a pause on it and give the company a chance like every other and just let the justice system take care of Mr Milton.