Nikola Corporation (NKLA) News

Worth posting again.

Plug Power CEO Expects Softening of U.S. Treasury Guidance on Clean Hydrogen

Green Stocks Research
Posted Aug 9, 2024

Plug Power CEO Andy Marsh expects a softening of the US Treasury's proposed guidelines on clean hydrogen production after the democratic convention.

Thanks for sharing this and not just the link.

IMHO California is the make or break for NKLA as they have to get the sales in place to get volume up and costs down and all the major fleets have significant presence in the state to support the first 1000+ FCEVs. Getting the govt to continue and extend their support will help the sales case and they only then need to focus on the HYLA infrastructure for one state.

The activity in Canada is being pushed by the trucking association there more than NIkola and if they can contain it to the current geography they get some exposure for what would be their next real target in mid 2025.

As for the other emerging opportunities I hope they arent too distracted by them and ensure they keep margins in mind if asked to set up NY or Georgia based oprtations

Nikola LinkedIn post.
Posted 15hr ago.
https://www.linkedin.com/posts/nikola-motor-company_nikola-leaders-spent-the-week-on-a-northern-activity-7232857706213097472-xvP0

Nikola leaders spent the week on a Northern California tour. Not only did they meet with customers, dealers, and fleets, but they also spent time with leaders from Governor Newsom’s Office of Business and Economic Development, California Air Resources Board, and the California State Senate to discuss programs and policies that promote battery-electric and hydrogen fuel cell electric vehicle development.

There’s so much that can be done in California, and our team was able to explain the need for a fully funded Hybrid and Zero Emission Truck Voucher Incentive Project (HVIP) in 2025, other funding programs for vehicles and infrastructure, and streamlined permitting processes for hydrogen refueling stations. We also shared our accomplishments with our zero-emissions trucks on roads today and the modular hydrogen refueling stations to support them. California is an important market for our trucks and we thank everyone for their time and effort to push forward!

The only one I use that perhaps fits your criteria is the California HVIP Voucher Map and Data updated at the end of each month at the following link https://californiahvip.org/impact/#deployed-vehicle-mapping-tool

Do any of you use tools to always get news at your fingertips that may not show up in the broker's newsfeed?

Cummins CEO talks alternative fuel: ‘Hydrogen has to be a part of the answer’
Aug 1 2024
https://www.cnbc.com/2024/08/01/cummins-ceo-talks-alternative-fuel-hydrogen-has-to-be-a-part-of-the-answer.html

Key Points
- In a Thursday interview with CNBC’s Jim Cramer, Cummins CEO Jennifer Rumsey explained why hydrogen plays a role in the company’s strategy.
- “We need hydrogen, hydrogen has to be a part of the answer,” she said. “And the reason is, you’ve got renewable energy that we need to convert into some kind of fuel, transport, and have it available when we need it.”

DNU, I don't know for sure. The links in my previous post make it sound as if money is allocated annually for this program, and every year they decide whether or not to continue it and how many funds to make available for it.

Did u or someone or the company note that there is about 250MM "left"

Of interest is the update from November 2023 u posted talked to 500 MM "left"

cool
"they" can still make requests

and then - its all dependent on money available and if the GOV sets any "priority or such order"

all good news

thank you for the detail

I hope we see this in the SALES INCOME for Q3

DNU, per the following article "Private fleets of more than 50 vehicles remain eligible to request HVIP vouchers until January 1, 2025, postponing by a year the policy set in the FY 2022-23 Funding Plan" (Source https://californiahvip.org/news/hvip-fy23-24-funding-and-policy-changes/).

The "Fiscal Year (FY) 2024-25 Funding Plan" hasn't been posted yet, when finalized it'll be posted at the following link https://ww2.arb.ca.gov/our-work/programs/low-carbon-transportation-incentives-and-air-quality-improvement-program/funding

Thank you for sharing. That was great to read!

Yeah I didn’t find anything more either but hope it’s true

I hope so
but I followed all the links in that news clip and none talked about 20 more

that would double the stock PPS in one day - IMO - if it is substantiated

current pre market is ---- up three pennies

Thank you

Is there a time limit or total dollar limit on this incentive?

(or maybe just for large fleets?)

I am looking for some sort of deadline to incent the actual purchase (or whatever brings in the CASH)

Walmart Canada orders 20 FCEVs!!! From the nikola Comunity board on X

Walmart Canada is building its sustainability game by purchasing 20 hydrogen-powered trucks from Nikola. These innovative trucks will significantly reduce carbon footprints and enhance efficiency across their supply chain.

Link: https://t.co/laichFv89t— World Transportation Services (@shipwts) August 20, 2024

The California HVIP voucher database Unredeemed filter is now working. Below is a snapshot of Unredeemed Nikola vouchers for July 31, 2024, compared to June 30, 2024. The data shows a net increase of 11 Unredeemed vouchers for BEV trucks, and a net increase of 31 for the hydrogen FCEV truck. The 31 increase for the hydrogen FCEV truck represent a significant increase compared to the net increase of 11 from the end of May to end of June 2024.
https://californiahvip.org/impact/#deployed-vehicle-mapping-tool

End of July 2024 data


End of June 2024 data:

for sure - could be the crash they are talking about is a crash into the trees

but the way the sentence is written -- to me -- it seems there was a CRASH first and then the truck ran off the road into the trees

now you know how my wife must feel

it says it started with a crash --- when the big rig went off the road

That does not say what crash or why a big rig would go off the road

Was there an accident type crash and then

Was there smoke and then a crash and

Sorry but I can be very focused on what any article says v implies these days

Don't they have lane assist? NKLA has. That should have alerted the driver well before crashing off the road.
Could have been electromagnetic radiation (see tesla board )
More likely a deer jumped out in front of them..

The crash was at 3 AM , so maybe the driver fell asleep, and it wasn't vehicle related?

DNU, I think the quote I posted was clear, the truck crashed into trees, no injuries were reported, and the crash likely caused the battery fire.

Tesla semi-truck fire prompts I-80 closure in California as hazmat response halts Sierra Nevada freeway traffic
August 19, 2024
https://www.cbsnews.com/amp/sacramento/news/i80-sierra-big-rig-fire-closure-emigrant-gap/

Key quote:

"The incident started as a crash when the big rig went off the roadway and into the trees. No injuries were reported, CHP says."

I hope no one was hurt

The article does not make it clear exactly what happened --- " started as a crash" explains zero

With no one hurt --- I do hope it was the batteries

Tesla semi-truck fire prompts I-80 closure in California as hazmat response halts Sierra Nevada freeway traffic
August 19, 2024
https://www.cbsnews.com/amp/sacramento/news/i80-sierra-big-rig-fire-closure-emigrant-gap/

Key quote:

"The incident started as a crash when the big rig went off the roadway and into the trees. No injuries were reported, CHP says."

EBZ and DNU, thank you for the feedback. I'm hoping for some positive catalysts to materialize near term: 1) final rules on IRA 45V for $3/kg clean hydrogen production tax credit (preferably relaxed relative to the preliminary rules), 2) Nikola announcing major order(s) for either truck (but most likely for the hydrogen FCEV truck), 3) DOE loan approved for Phoenix Hydrogen Hub (https://www.prnewswire.com/news-releases/phoenix-hydrogen-hub-llc-project-invited-into-phase-ii-of-us-department-of-energy-1-3-billion-loan-application-process-301691240.html) although sold to Fortescue Future Industries (https://www.hydrogenfuelnews.com/hydrogen-hub-nikola-ffi/8560001/).

It depends. At some point a couple weeks ago it was in the 9's...which would put it in the 8's now

burn rate next quarter --- assuming it is in normal path with a forecast for more sales and deliveries the next quarter ------ will be very interesting and as always important

I never feel there is enough "certainty" or pattern to Q over Q to "model" but I would love to model say 40 Million growth in sales and 30 Million ? drop in cash burn each quarter

Not fast enough but if we see that then one can start to do NPV modeling - or at least analysts can start to do that and talk about x quarters until no cash burn

the credits - if they are serious dollars are pure cash and some income from HYLA can accelerate the race to no cash burn

Hard to buy now - even at this price - if I expect 300M or so more dilution or more --- with no idea the price per share of the stock - even with a clear path to free cash flow

Yes 160M in convertible...80M of it was today. Then a 500M dollar shelf

Both items are dollars which will equal shares at x per share.

Again, is this a good buying opportunity? Anyone?

Nikola Stock Falls 10% On Fundraise Plans: Retail Investors Turn ‘Extremely Bearish’
August 19, 2024
https://stocktwits.com/news/markets/equity/nikola-stock-falls-on-fund-raising-plans/c7vVYfBRTA

So now on Marketwatch - a story about 160M convertible

80M up now

Anyone know if this is separate from the 500M shelf or part of it

And anyone know the conversion limits and details

https://www.marketwatch.com/story/nikolas-stock-falls-as-ev-maker-looks-to-raise-money-via-convertible-debt-deal-76d144ed?mod=mw_quote_news

??

what is 80M dollars - more convertible sales and cash but dilution

I saw the 500M shelf

80M dollars?

80 Million or 500 million dollars

two different items ?

Haha...it happens...either way the other half of the $160M and the $500M will double the share count, correct?

Added more shares to my position.

Ooops silly me - its Monday morning need caffeine!

America facing largest hydrogen deployment in history: 14 GW, 24 states and billions of dollars
by D. García 08/19/2024
https://www.ecoticias.com/en/america-largest-hydrogen-deployment-history/5519/

Not 80 million shares. 80 million dollars. The stock has already adjusted.

I think the size of the offering is taking people by surprise. We knew they would be coming to the market (and wil every quarter) but 80m shares is almost double the current outstanding shares. Being convertible delays the impact somewhat, I hope they can find other funding sources as discussed in their earnings calls and other interviews for future raises

CALSTART Projects 460K+ Annual Zero-Emission Truck Sales in 11 States by 2030
19th August 2024
https://eletric-vehicles.com/nikola/calstart-projects-460k-annual-zero-emission-truck-sales-in-11-states-by-2030/

Nikola Corporation Awarded Sourcewell Cooperative Contract
Cooperative purchase program allows public agencies to more easily purchase Arizona-assembled Class 8 zero-emission trucks
Published August 19, 2024
https://www.nikolamotor.com/nikola-corporation-awarded-sourcewell-cooperative-contract

PHOENIX — August 19, 2024 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, continues its efforts to decarbonize the trucking industry with a Sourcewell Awarded Contract.

Public agencies can click HERE to access Nikola Corporation contract 032824-NKA.

Nikola secured a Sourcewell contract following a rigorous request for proposal (RFP) process, ensuring compliance with local procurement requirements, and delivering exceptional value and service. This partnership grants any public agency access to purchase from Nikola Corporation through a ready-to-use, Sourcewell-vetted contract, streamlining the public purchasing process.

Sourcewell, a self-funded governmental organization established in 1978, facilitates a cooperative purchasing program that harnesses the collective purchasing power of more than 50,000 participating agencies. By streamlining procurement with pre-negotiated, competitive contracts, Sourcewell enables government, educational, and nonprofit organizations to secure cost-effective and efficient purchasing solutions.

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 commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem.

Nikola headquarters 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.


MEDIA INQUIRIES
press@nikolamotor.com

Link to SEC Filings https://www.nikolamotor.com/sec-filings

Is this a buying opportunity? I added a little this morning.

I have 2 items on my news feed.

- Mixed shelf of offering up to 500 million

- And Nikola enters into 160 million dollar securities purchase agreement for senior convertible notes. 80 Million dollar sale to take place Aug. 19.

This is all I could find, no access to it though. https://thefly.com/landingPageNews.php?id=3971147&headline=NKLA-Nikola-files-M-mixed-securities-shelf&test2

Just announced a shelf offering.

and 10% of daily volume in 2 minutes ?

hopefully - one big seller - (who does not know anything non public)

I just looked - 1 minute ago - saw the negative - looked at a marketwatch pre market chart and indeed it fell off a cliff

?

Uhhhh...what just happened in premarket? Just went from 8.20 to 7.40's in no time.

Plug Power CEO Expects Softening of U.S. Treasury Guidance on Clean Hydrogen

Green Stocks Research
Posted Aug 9, 2024

Plug Power CEO Andy Marsh expects a softening of the US Treasury's proposed guidelines on clean #hydrogen production after the democratic convention.

He expects 'gigawatt scale' projects will then need another 12-18 months to get to FID.

Nikola to Unveil New California Hydrogen Station, Aiming for 14 by Year-End
16th August 2024
https://eletric-vehicles.com/nikola/nikola-to-unveil-new-california-hydrogen-station-aiming-for-14-by-year-end/