PHOENIX, Sept. 28,
2023 /PRNewswire/ -- Nikola Corporation (Nasdaq:
NKLA), a global leader in zero-emissions transportation and energy
supply and infrastructure solutions, via its HYLA brand, achieved a
significant milestone today as it celebrated the commercial launch
of the Nikola hydrogen fuel cell electric vehicle at its
state-of-the-art manufacturing facility in Coolidge, Ariz.
The ceremony was attended by fleet customers, dealers from
Nikola's sales and service network, government officials, prominent
Phoenix business and community
leaders and the dedicated Nikola team, all of whom played a pivotal
role in making this achievement possible. The event also included
remarks from Nikola executives and Sandra
Watson, President and CEO of Arizona Commerce Authority,
truck and hydrogen demonstrations, sustainability impact overviews,
production line tours and informal technology Q&As with Nikola
engineers on hydrogen safety, the HYLA ecosystem and the Nikola
human machine interface system.
"Today, we mark the official commercial launch of our advanced
technology hydrogen fuel cell electric trucks into the North
American marketplace. It's a testament to the relentless `can do'
attitude of our team and is a step closer to realizing our vision
of sustainable and efficient transportation," said Steve Girsky, Nikola
President and Chief Executive Officer. "As we head into the
fourth quarter, we are focused on delivering our trucks at scale
and securing our position as pioneers in the hydrogen refueling
ecosystem to support our customers."
Nikola's ground-breaking hydrogen fuel cell electric truck
features a range of up to 500 miles and an estimated fueling time
as low as 20 minutes.* This truck is expected to have among
the longest ranges of all commercially available zero tailpipe
emission Class 8 trucks, with versatile applications ranging from
drayage and intermodal to metro-regional truckload and
less-than-truckload to certain specialized hauling use
cases.
Progressing steadily towards its strategic goals, Nikola and its
dealers have received 223 non-binding orders for its hydrogen fuel
cell electric trucks from 23 customers. Notable fleet
operators such as J.B. Hunt, AJR Trucking, Biagi Bros. and TTSI, are among the growing list
of customers committing to the future of sustainable trucking.
The completion of Phase 2 assembly expansion at the Coolidge manufacturing facility sets the stage
for a new era in transportation. With a versatile mixed-model
production line capable of manufacturing both hydrogen fuel cell
and battery-electric trucks, the facility stands ready to achieve
an annual production capacity of approximately 2,400 trucks across
three shifts.
Progress is also evident on the fuel cell power module assembly
line in Coolidge, scheduled for
completion in Q4 of this year, with Bosch supplying these critical
modules.
"We are proud to celebrate the launch of Nikola's innovative
hydrogen fuel cell electric vehicle production facility
in Coolidge," said Sandra
Watson, President and CEO of the Arizona Commerce
Authority. "Nikola's investment in Arizona's electric vehicle supply chain and
their partnership with leading suppliers are driving further
economic growth. We look forward to supporting Nikola's success as
the company continues to shape the future of transportation from
Coolidge."
Available Incentives
In addition to production
milestones, the latest state and federal incentives nationwide make
it even more economically viable to be a Nikola customer. Nikola
trucks are eligible for the California Air Resources
Board Hybrid and Zero-Emission Truck and Bus Voucher Incentive
Project, opening up access to incentives starting at $120,000 and ranging up to $288,000 per truck. Additionally, the recently
reopened Innovative Small e-Fleet program in Calif. offers
incentives to small fleets starting at $240,000 and ranging up to $408,000 per vehicle.
Furthermore, the New York Truck Voucher Incentive Program, the
federal Incentives for Medium- and Heavy-Duty Zero-Emission
Vehicles Program (iMHZEV) in Canada and the Clean BC Go Electric Rebates in
the province of British Columbia,
which is stackable with the iMHZEV federal incentive, all offer
additional incentives for Nikola
Class 8 zero-emission vehicles.
Nikola customers will also benefit from a $40,000 clean commercial vehicle tax credit per
vehicle from the federal government due to the passage of
the Inflation Reduction Act.
Powered by HYLA
As Nikola accelerates toward its goal
of mass-producing hydrogen fuel cell electric trucks, the HYLA team
is committed to securing a reliable hydrogen supply to meet the
demands of 2023 and beyond by collaborating with partners who share
in the vision for a sustainable and efficient future.
The company has been awarded potential grant funds to help
facilitate the ongoing development of hydrogen refueling stations
along key Calif. freight corridors and with the previously
announced joint effort with Voltera to establish up to 50 HYLA
stations across North America over
the next five years.
"As we receive these significant grants and form strategic
partnerships, we're forging ahead on our mission to build a
comprehensive zero-emission transportation solution," said
Joe Cappello, Nikola President of Energy. "The support from
state agencies, such as California, incentives in Canada, and others, underscores our combined
commitment to help fleets meet climate goals and improve air
quality in the most critical areas. It's a testament to the
strength of HYLA's vision for an integrated hydrogen ecosystem that
supports not only our hydrogen fuel cell electric trucks but also
lays the foundation for a scalable energy business."
With these awards and collaborations, Nikola is firmly on track
to create an open network of commercial hydrogen refueling
stations, initially in Calif., and expanding across North America, with HYLA also working to
deploy a fleet of hydrogen mobile fuelers to provide flexible
infrastructure where it may be required.
EVENT MEDIA ASSETS
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, covering supply, distribution and
dispensing.
Nikola headquarters is based in Phoenix, Arizona with a manufacturing facility
in Coolidge, Arizona.
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 Company's beliefs regarding the ability to deliver trucks
at scale and secure a position as a pioneer in the hydrogen
refueling ecosystem; the FCEV truck's ability to meet is range and
fueling time targets; the ability to turn non-binding orders into
binding orders; the benefits of various government incentives; the
ability to meet the hydrogen fueling demands of Company customers;
and the ability to realize the benefits of certain awards or
partnerships to help create an open network of commercial hydrogen
refueling stations. These forward-looking statements generally are
identified by words such as "believe," "project," "expect,"
"anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," and
similar expressions. 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 the factors, risks
and uncertainties regarding the Company's business described in the
"Risk Factors" section of the Company's quarterly report on Form
10-Q for the quarter ended June 30,
2023 filed with the SEC, in addition to the Company's
subsequent filings with the SEC. These filings identify and address
other important risks and uncertainties that could cause the
Company's 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
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
* Refueling time estimate depends on the characteristics of
the hydrogen fueling location, including fueling hardware and
software protocol, fuel quantity, and fueling conditions.
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