Nikola Corporation (NKLA)

[srm4u]

Nikola Building $600 Million Plant In Arizona Desert To Get Hydrogen Big Rigs Rolling By 2023

The new Coolidge factory will assemble battery packs used in the trucks but fuel cell power modules, supplied by partners such as Bosch will be shipped in, Milton said. Production of Tres starts in Germany in 2021 with partner CNH/Iveco, with some units to be exported to the U.S., prior to the U.S. factory opening. Nikola has also designed a battery and fuel cell electric pickup, the Badger, that is to be produced by an as-yet unnamed automaker.


Nikola is at the cutting edge of a push by companies including Hyundai Motor, Toyota, Daimler, and Volvo Trucks to commercialize hydrogen fuel for heavy-duty vehicles–as well as interest in the EU, California and South Korea to use it grid-level energy storage–to help bring down carbon emissions. It will compete head-to-head with Tesla TSLA +3.8% in battery-powered trucks, and thinks it can outdo Elon Musk’s company in the long-haul semi market with vehicles offering more range and that can be refueled in about the same amount of time as a diesel truck.
https://www.forbes.com/sites/alanohnsman/2020/07/23/nikola-building-600-million-plant-in-arizona-desert-to-get-hydrogen-big-rigs-rolling-by-2023/#cba5415536ef


#1851 Trevor Milton

Trevor Milton founded Nikola Motor in 2014 to build semi trucks powered by batteries and hydrogen.
The Phoenix, Arizona-based company raised $600 million from investors. In June 2020 it merged with listed firm VectoIQ, now called Nikola Corp.
Anheuser Busch has ordered 800 trucks, which Nicola aims to start delivering in 2021.
Milton grew up in Utah and has had a fascination with vehicle technology since childhood.
He dropped out of Utah Valley University after just one semester.
https://www.forbes.com/profile/trevor-milton/#3adb09388616

Mark Russell

Russell has been building and managing companies in the manufacturing industry for over 20 years, helping them grow profitably while building significant value for investors. Most recently, Russell served as president and chief operating officer of Worthington Industries (NYSE: WOR) from 2012 to 2018, and prior to that served as president of WOR subsidiary Worthington Steel since 2007.
https://nikolamotor.com/press_releases/mark-russell-named-nikola-president-57