Saturday, November 21, 2020 1:22:10 PM
Nikola’s $12 Billion Nasdaq Debut Is A Boost For Hydrogen Trucks–And Founder Trevor Milton’s Fortune
Jun 4, 2020,05:55pm EDT
Interest in the company has been rising in recent months, and not just from investors ahead of the Nasdaq listing, Milton says. “We're now talking with almost every major OEM in the world,” he tells Forbes. In part, that’s due to the addition of Steve Girsky, a former vice chairman of General Motors GM +0.5%, to Nikola’s board. (Rather than an IPO, Nikola’s speedy Nasdaq listing resulted from its reverse merger with Girsky’s publicly traded VectoIQ that was completed on June 2.
“It’s interesting, the groups that have been more open to working with us are ones you’d probably not expect,” he said, hinting that announcements may be coming in the weeks ahead. Currently, Nikola is partnered with European commercial vehicle maker CNH / Iveco to build battery-electric versions of its trucks for that market starting in 2021. It’s also working with Bosch, Meritor and several other manufacturers specializing in the commercial vehicle space.
Nikola has secured truck orders worth $10 billion from companies led by Anheuser-Busch, which wants 800 of the company’s non-polluting behemoths. So far, Nikola hasn’t generated much revenue but estimates sales will jump from $150 million in 2021 to $3.2 billion by 2024 as it ramps up productions. In 2024, it expects to sell or lease 7,000 battery-powered units and 5,000 hydrogen fuel cell trucks, according to its filing.
https://nikolamotor.com/about
https://investorshub.advfn.com/NIKOLA-MOTORS-Nkla-37678/
Jun 4, 2020,05:55pm EDT
Interest in the company has been rising in recent months, and not just from investors ahead of the Nasdaq listing, Milton says. “We're now talking with almost every major OEM in the world,” he tells Forbes. In part, that’s due to the addition of Steve Girsky, a former vice chairman of General Motors GM +0.5%, to Nikola’s board. (Rather than an IPO, Nikola’s speedy Nasdaq listing resulted from its reverse merger with Girsky’s publicly traded VectoIQ that was completed on June 2.
“It’s interesting, the groups that have been more open to working with us are ones you’d probably not expect,” he said, hinting that announcements may be coming in the weeks ahead. Currently, Nikola is partnered with European commercial vehicle maker CNH / Iveco to build battery-electric versions of its trucks for that market starting in 2021. It’s also working with Bosch, Meritor and several other manufacturers specializing in the commercial vehicle space.
Nikola has secured truck orders worth $10 billion from companies led by Anheuser-Busch, which wants 800 of the company’s non-polluting behemoths. So far, Nikola hasn’t generated much revenue but estimates sales will jump from $150 million in 2021 to $3.2 billion by 2024 as it ramps up productions. In 2024, it expects to sell or lease 7,000 battery-powered units and 5,000 hydrogen fuel cell trucks, according to its filing.
https://nikolamotor.com/about
https://investorshub.advfn.com/NIKOLA-MOTORS-Nkla-37678/
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