PHOENIX, April 4,
2024 /PRNewswire/ -- It was a productive Q1 for
Nikola Corporation (Nasdaq: NKLA), a global leader in
zero-emissions transportation and energy supply and infrastructure
solutions, via the HYLA brand, as the company produced 43 and
wholesaled 40 Class 8 Nikola hydrogen fuel cell electric vehicles.
In addition, the Nikola team has commenced the return
process for the BEV "2.0" trucks to customers.
"We are on track for a successful 2024 by continuing the
momentum set in 2023," said Nikola CEO Steve Girsky. "It's about more than just setting
goals. It's about following through on our commitments. This
includes not only the production and sale of our hydrogen fuel cell
electric trucks but also the start of returns for our
battery-electric trucks to customers."
All trucks wholesaled to Nikola dealers are destined for end
customers. The three remaining hydrogen fuel cell electric trucks
in finished goods inventory at the end of the quarter have already
been allocated and will be delivered in early April.
"We anticipate further sales growth in future quarters as our
HYLA hydrogen fueling solutions come online. This includes our
recently celebrated first modular refueling station in Ontario, Calif., as well as our first
Canadian refueling station in Edmonton,
Alberta," continued Girsky. "It's rewarding for our team to
see us out on the field, leading the effort for the decarbonization
of the industry."
The Nikola hydrogen fuel cell and battery-electric vehicles are
assembled in Coolidge, Ariz.
NOTE: Nikola has not completed its quarterly review process
or the preparation of its financial statements for the first
quarter ended March 31, 2024. Nikola
will announce information regarding Q1 2024 financial results
soon.
ABOUT NIKOLA CORPORATION
Nikola Corporation's mission is clear: pioneering solutions for a
zero-emissions world. As an integrated truck and energy company,
Nikola is transforming transportation and over-the-road freight
services. With our Class 8 vehicles, including battery-electric and
hydrogen fuel cell electric trucks, and our energy brand, HYLA, we
are driving the advancement of the complete hydrogen refueling
ecosystem. This encompasses supply, distribution, and dispensing,
reflecting our commitment to sustainable practices and a cleaner
future.
Nikola is based in Phoenix,
Ariz. with a manufacturing facility in Coolidge, Ariz.
Experience our journey to achieve your sustainability goals
at nikolamotor.com or engage with us on social media
via Facebook @nikolamotorcompany,
Instagram @nikolamotorcompany,
YouTube @nikolamotorcompany,
LinkedIn @nikolamotorcompany or
Twitter @nikolamotor.
FORWARD-LOOKING STATEMENTS
This press release
contains certain forward-looking statements within the meaning of
federal securities laws with respect to Nikola Corporation (the
"Company"), including statements relating to: the belief that the
Company is on track for a successful 2024; the Company's plans to
follow through on its commitments, including the production
and sale of hydrogen fuel cell electric trucks and the start of
returns for battery-electric trucks to customers; expectations
relating to trucks that are wholesaled and remaining hydrogen fuel
cell electric trucks, including expected timing of deliveries
thereof; and expectations relating to sales growth. Forward-looking
statements are predictions, projections, and other statements about
future events based on current expectations and assumptions and, as
a result, are subject to risks and uncertainties. Many factors
could cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: completion of the Company's review of its first quarter
results; changes to assumptions underlying vehicle sales and
deliveries; the ability of the Company to access sufficient capital
to meet its requirements and fund its business; manufacturing
delays and difficulties; risks related to the rollout of the
Company's hydrogen fueling infrastructure and the timing thereof;
construction risks and delays; the availability of access to
hydrogen refueling facilities; the level of and cancellation of
customer orders; risks associated with manufacturing batteries and
fuel cell power modules; variations in and characteristics of the
hydrogen fueling location, including but not limited to fueling
hardware and software protocol, fuel amount, and fueling
conditions, any of which may affect refueling times; the Company's
ability to remain listed on Nasdaq; and the factors, risks and
uncertainties described in the "Risk Factors" section of the
Company's annual report on Form 10-K for the year ended
December 31, 2023 filed with the SEC,
as amended, in addition to the Company's subsequent filings with
the SEC. These filings identify and address other important risks
and uncertainties that could cause actual events and results to
differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and, except as required by law, the
Company assumes no obligation and does not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise.
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SOURCE Nikola Corporation