Nikola Corporation Reports Third Quarter 2022 Results

Nicola Corporation (Nasdaq: NKLA), a global leader in zero-emission transportation, energy supply and infrastructure solutions, today reported results for the quarter ended September 30, 2022.

“We continued to produce and deliver the Nikola Tre BEV to our dealers and customers in the third quarter. We have announced our intention to develop access to the station and have collaborated with E.ON in Europe.”

News of energy business
We are on October 20th, has announced its intention to develop access to up to 300 tons of hydrogen per day (TPD) and up to 60 dispense stations by 2026, bolstering the potential impact from the Inflation Reduction Act to its business model. emphasized its advantages.This supply is expected to be supported by previously announced projects referenced below. These projects are developed with partners.

We are negotiating a strong portfolio of hydrogen supply opportunities across North America. Details will be announced after implementation.

On September 29, we acquired land in Buckeye, Arizona with the intention of building a hydrogen production hub with our partners. We have received zoning and permit requirements and have ordered equipment with long lead times, including electrolyzers and liquefiers.

we are on the 4th of august announced the location of three hydrogen refueling stations in California.Stations will be located to serve the Ports of Colton, Ontario and Long Beach. California is Nicola’s launch market, and these stations are intended to support key customers and further the state’s efforts to decarbonize the transportation sector.

We are September 16th, Announced collaboration with E.ON It aims to establish hydrogen supply and related infrastructure to meet the demand of European customers. E.ON is one of Europe’s largest operators of energy networks and energy infrastructure. This strategic partnership is expected to provide customers with integrated mobility solutions to accelerate the use of hydrogen. Both parties have signed terms underpinning the collaboration and are negotiating a final agreement to finalize the terms.

Good performance at IAA
On September 19, as part of a joint venture with the Iveco Group, European versions of Tre BEV and FCEV Beta released At the IAA main stage. There has been a high level of interest in our FCEV, which we believe further confirms our business plans and the role we will play in the global transition to a hydrogen economy. Production of the EU version Tre BEV is scheduled to start in the second half of 2023 and the EU version of the Tre FCEV in the second half of 2024.

Tre FCEV update
During the third quarter, we continued our FCEV pilot with TTSI and began pilot testing with Walmart. To date, the trucks have logged 9,700 miles each and he over 5,500 miles. In Q3, 6 Beta his trucks were completed. Beta track development testing has started at various locations. By the end of the fourth quarter, he expects to complete 17 Beta trucks for the full year.

Tre BEV Update
We produced 75 Nikola Tre BEVs in the third quarter, of which 63 were delivered to dealers. Both SAIA and Walmart have started pilot testing and to date have logged 1,600 miles each and he’s 2,700. Announced on November 2nd Zeem Solutions has executed an order for 100 Nikola Tre BEVs.

Coolidge, Arizona Manufacturing Facility
Coolidge currently produces 3 trucks per shift and has the capacity to produce 5 trucks per shift. We plan to complete the second phase of the assembly expansion by the end of Q1 2023, at which point our production capacity will be up to 20,000 units per year. Once Phase 2 is complete, the facility will be able to produce BEVs and his FCEVs on the same line, in addition to Bosch fuel cell power modules.

Acquisition of Romeo Power completed
We are October 14th, Acquisition of Romeo Power Completedfurther reinforcing our commitment to transforming the transportation industry.

Third quarter financial highlights

sauce: Nicola