A day after Tesla chose Austin, Texas, for its next U.S. Gigafactory, its new competitor in the manufacture of zero-emission vehicles, Nikola Corporation opened its first production facility in Arizona, bringing its vision of making heavy hydrogen trucks closer. Reality.
Nikola plans to start generating hydrogen trucks from his Plant in Coolidge, Arizona, by the time of 2023.
Its first truck will be produced in Europe in 2021 at the Iveco plant in Ulm, Germany, from an alliance with CNH Industrial.
The $600 million plant in Arizona will first produce the Nikola Tre and Nikola Two trucks. In full production, the plant will be able to manufacture around 35,000 games consistent with the year.
For Nikola, hydrogen trucks and 100 percent battery electric trucks are complementary use cases, the company said in a presentation at Deutsche Bank’s global automotive virtual convention last month. Hydrogen cars will have an estimated diversity of 500 to 750 miles and can be used in long-distance transportation, while BEV trucks with a diversity of up to 300 miles will be used for shorter transport routes, Nikola said.
The company, founded in 2015, has yet to sell a vehicle and earn revenue, however, it was indexed on the NASDAQ last month after its merger with special purpose vehicle company VectoIQ Acquisition Corp. and had a market capitalization of $12.25 billion at the close. July 23.
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Analysts and the media see Tesla and Nikola as rivals in the zero-emission vehicle market. But Trevor Milton, founder and CEO of Nikola, says the real competitor is diesel trucks, and enthusiasts and developers of cars with batteries and hydrogen want to focus on replacing diesel and avoiding hating others.
But his new electric van, Badger, can rival Tesla’s Cybertruck. The Badger will have an estimated diversity of up to six hundred miles, one hundred miles more than the estimated maximum diversity of Tesla’s Cybertruck.
Nikola has not yet manufactured, sold or leased BEV and FCEV trucks, however, he expects the first revenue to start flowing next year when he plans to sell six hundred sets of BEV trucks, the company said in a presentation to the SEC of the prospectus for its listing. In 2024, Nikola aims to sell or lease 7,000 BEV trucks and 5,000 FCEV trucks with 24 hydrogen stations completed so far.
To fund the deployment of hydrogen batteries and trucks, Nikola will probably want to raise another $700 million in equity funding between late 2021 and early 2022, he said in the SEC file. The company also plans to factor out loans over the next five years to operate and finance hydrogen station production appliances and appliances.
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Regarding the rivalry between FCEV and BEV, Milton de Nikola wrote in a LinkedIn article the month:
“BEV vs FCEV. What other people don’t perceive is that they don’t compete with others. They complement each other.”
“No length is suitable for all programs and in this situation, the FCEV is less expensive than the BEV for long-distance transport,” nikola’s founder says, concluding:
“It’s not FCEV vs. BEV, it’s FCEV – BEV. Now let’s avoid hating each other and focus on getting rid of diesel trucks by providing a solution for drivers to settle for replacing them with joy.”
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