In its development, the startup Nikola Corp went through a number of serious troubles, and due to a lack of funds, it decided to focus on producing trucks with hydrogen fuel cells for the US market. At the automaker's quarterly earnings conference, it was stated that of the 42 hydrogen trucks produced, 35 were sent to American dealers for delivery to customers.
According to Nikola, it has become the first supplier of long-haul tractors in North America to use hydrogen as fuel. In special cells, it allows the generation of electricity to power the power plant, and such vehicles produce water vapor as exhaust. The company kept seven trucks from the first batch for demonstration purposes and testing. On the North American continent, she already has about six clients from among transport companies. One of them even managed to make a 1,386 km trip in such a truck with only one gas station along the route.
Last year, Nikola had to recall all of its Tre series battery-powered trucks to replace their traction batteries with safer ones that are less prone to fire. It expects to complete this work by the end of the first quarter, and expects to return all the upgraded trucks to customers during the second quarter or the beginning of the third. Only after this will it begin to modernize Nikola Tre battery trucks from those stored in its own warehouses. In the future, they will be sold until the end of 2024.
Directly speaking about the financial results of the quarter, it should be noted that Nikola Corp’s revenue more than doubled to $11.5 million, while the result for the entire 2023 was worse than the revenue in 2022: $35.8 million versus $49.7 million, respectively. Net losses at the end of the last quarter were reduced from $222 to $153.6 million, but at the end of the entire 2023, Nikola’s net losses increased to $966 million.
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