PHOENIX, Oct. 14, 2021 /PRNewswire/ -- Nikola
Corporation (Nasdaq: NKLA), a global leader in zero-emissions
transportation and energy infrastructure solutions, today announced
a collaboration with PGT Trucking, Inc. (PGT), an
international multi-service flatbed transportation company, to
advance electric drive heavy-duty transport. This collaboration
includes a Letter of Intent (LOI) to lease 100 Nikola Tre
heavy-duty fuel cell electric vehicles (FCEVs) following the
satisfactory completion of a Nikola Tre FCEV demonstration program
under terms to be agreed to between the parties. The lease order
will include the Nikola Tre FCEV, scheduled maintenance and
hydrogen fueling solutions.
Deliveries of the FCEVs to PGT are anticipated to begin in 2023
when production commences at Nikola's Coolidge, Arizona manufacturing facility.
"We are excited that PGT has elected to partner with Nikola in
advancing and adopting FCEV technology," said Nikola President, Energy and Commercial Pablo
Koziner. "PGT is a highly respected leader in the flatbed
transportation industry with operating experience grounded on
safety, reliability and customer service. We believe our FCEVs will
help PGT further their objectives to continuously improve driver
experience, reduce their carbon footprint and increase the
efficiency of their operations while providing great value to their
customers. Nikola continues to make great progress to accelerate
the adoption of FCEVs through its integration of purpose-built
vehicles, energy solutions and the sales and service network
required to support customers."
Designed for longer or continuous metro-regional applications,
the Nikola Tre FCEV cabover has an anticipated range up to 500
miles and will become an innovative addition to PGT's freight
hauling fleet that serves the steel, building materials, machinery,
oil & gas, raw materials, aluminum and automotive
industries.
"For 40 years, PGT Trucking has focused on revolutionizing and
refining our core competency through technology innovation," said
Gregg Troian, President of PGT
Trucking. "It is the forward-thinking and strategic partnerships,
like we have with Nikola, that allow us to cultivate transportation
advancements. This partnership will give us the opportunity to
offer progressive transportation solutions to our customers, while
aligning with corporate-driven sustainability initiatives, and
reducing their carbon footprint using innovative energy sources.
Sustainable freight transportation will improve safety, reduce
costs and CO2 emissions, and improve economic efficiency. PGT is
proud to partner with Nikola as we evolve our fleet with a broad
focus on the future of flatbed."
ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation
industry. As a designer and manufacturer of zero-emission
battery-electric and hydrogen-electric vehicles, electric vehicle
drivetrains, vehicle components, energy storage systems, and
hydrogen station infrastructure, Nikola is driven to revolutionize
the economic and environmental impact of commerce as we know it
today. Founded in 2015, Nikola Corporation is headquartered in
Phoenix, Arizona. For more
information, visit www.nikolamotor.com or
Twitter @nikolamotor.
ABOUT PGT TRUCKING
PGT Trucking Inc., is a
multi-service transportation firm offering flatbed, dedicated,
international and specialized services. PGT operates in excess of
1,000 power units and over 1,500 trailers and is headquartered in
Aliquippa, PA. At PGT Trucking,
"Safety is Everyone's Job – All the Time." For more information
visit www.pgttrucking.com.
FORWARD LOOKING STATEMENTS
Certain statements included in this press release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as "believe," "may," "will," "estimate,"
"continue," "anticipate," "intend," "expect," "should," "would,"
"plan," "predict," "potential," "seem," "seek," "future,"
"outlook," and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These forward-looking statements include, but are not limited to,
statements regarding the potential benefits of collaboration with
PGT; the ability of Nikola's vehicles to assist customers
improve driver experience, reduce their carbon footprint and
increase efficiency of their operations; the company's expectations
regarding its business, its manufacturing timeline, the general
business model and strategy; the company's expectations for its
trucks, the trucks' anticipated performance metrics and market
acceptance of electric trucks, both BEV and FCEV; and market
opportunity. These statements are based on various assumptions,
whether or not identified in this press release, and on the current
expectations of Nikola's management and are not predictions of
actual performance. Forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from the forward-looking statements, including
but not limited to, the ultimate execution of definitive
documentation; failure to realize the anticipated benefits or
objectives of the definitive documentation; general economic,
financial, legal, regulatory, political and business conditions and
changes in domestic and foreign markets; the potential effects of
COVID-19; the outcome of legal, regulatory and judicial proceedings
to which Nikola is, or may become a party; demand for and customer
acceptance of Nikola's trucks; risks associated with development
and testing of fuel-cell power modules and hydrogen storage
systems; risks related to the rollout of Nikola's business and the
timing of expected business milestones; the effects of competition
on Nikola's future business; the availability of capital; risks
associated with changes in accounting treatment or accounting
standards; and the other risks detailed from time to time in
reports Nikola files with the Securities and Exchange Commission,
including its quarterly report on Form 10-Q for the quarter ended
June 30, 2021. If any of these risks
materialize or our assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. These forward-looking statements speak
only as of the date hereof and Nikola specifically disclaims any
obligation to update these forward-looking statements.
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SOURCE Nikola Corporation