Nikola Corporation

Nikola Corporation is an American hybrid truck design and manufacturing company based in Phoenix, Arizona, where it also has its research and development operations.[1] It was founded in 2014[2] in Salt Lake City, Utah.[3][4] The company is named after inventor Nikola Tesla.[5]

Nikola Corporation
Formerly
Nikola Motor Company (2014-2020) (now name of subsidiary)
Public
Traded asNASDAQ: NKLA
IndustryHybrid truck design
Founded2014 (2014) in Salt Lake City, Utah, U.S.
Headquarters
Phoenix, Arizona
,
U.S.
Key people
Trevor Milton (founder, Executive Chairman)
Mark Russell (President, CEO)
ProductsNikola One, Nikola Two, Nikola Tre, Nikola NZT, Nikola Wav, Nikola Badger
SubsidiariesNikola Motor Company
Nikola Powersports
Nikola Energy Company
Websitenikolamotor.com

Overview

In late November 2018, it announced plans for a Nikola World event for April 16–17, 2019, in nearby Scottsdale, Arizona. The two-day midweek event will include a Public Demo Day to show off the Nikola Two truck and the Nikola NZT UTV.[6][7]

In March 2019, Nikola acquired a 389-acre parcel in Coolidge, Arizona, for $23 million, with future state and local tax breaks. Nikola expects the truck factory to start construction in 2020, start building trucks in 2021, and be able to build 35–50,000 trucks per year by 2023.[8]

In March 2020, Nikola announced its plans to merge with VectoIQ Acquisition Corporation (ticker VTIQ) a publicly traded acquisition company run by former General Motors Co. executive Steve Girsky. This resulted in the combined company being listed on the NASDAQ exchange with the NKLA ticker symbol.[9] Nikola’s stock began trading on June 4, 2020, a day after it completed the merger. By June 9, the shares more than doubled since they began trading, as investors continued to bet on the growth potential of electric transportation. Nikola executive chairman Trevor Milton tweeted that the company would begin taking reservations for the pickup truck, the Badger, on June 29, with the goal of overtaking the Ford F-150, the US' highest-selling model.[10]

Models

Nikola NZT

The prototype model, the Nikola NZT, formerly referred to as the Nikola Zero,[11] is a utility task vehicle (UTV) with 72 or 107 kWh battery.[12][13][14] It has 555 hp combined from a motor at each wheel, weighs 3,500 lb (1,600 kg), and uses the same 14.5 in (370 mm) clearance suspension as the Ford Raptor.[15] It has been spun-off into a powersports product, in the Nikola Powersports division.[16]

Nikola One

The company designed an electric Class 8 truck called the Nikola One, with a 320 kWh EV battery supplying 6 traction electric motors with a combined software-limited 1,000 hp (750 kW) and 2,000 lb⋅ft (2,700 N⋅m) of torque[17] – nearly 86,000 lb⋅ft (117,000 N⋅m) after gear reduction – inspired by electric locomotives.[18] This is sufficient for keeping a speed of 65 mph (105 km/h) with a full load of 80,000 pounds (36 tonnes) on a 6% grade.[14] The energy source is 300 kW[13] hydrogen fuel cells[19][20][21] consuming 4.6 kg (10 lb) H2 per 100 km (62 mi) from tanks with 100 kg (220 lb) of hydrogen, giving a range of 1,200 mi (1,900 km). Consumption is equivalent to 15.4 mpg of diesel.[14] The truck has regenerative brakes to supplement the traditional disc brakes, decreasing stopping distance and fuel usage.[18] The hydrogen version was unveiled in December 2016 and was expected to be available by 2019.[13][17][22] In some markets, compressed natural gas to power an on-board gas turbine generator may be used instead.[19]

The first 5,000 trucks are to be built by Fitzgerald in Byrdstown, Tennessee; the company is known for its "glider trucks", which are built without engines.[13]

On May 1, 2018, Nikola Motor Company filed a lawsuit against Tesla, Inc. seeking $2 billion in damages alleging that the Tesla Semi infringes on several patents Nikola have been granted on the design of the Nikola One. Tesla has responded that the lawsuit is without merit.[23]

On May 3, 2018, Anheuser-Busch ordered up to 800 of the hydrogen-powered truck versions and Nikola claims the trucks will start being delivered in 2020.[24]

Nikola Two

The company has announced plans to build a hydrogen-powered truck called the Nikola Two,[22] with power and range estimates similar to those of the Nikola One, but without the sleeping compartment found in Nikola One.

Nikola Tre

In November 2019 the company announced the Nikola Tre, a rebadged version of the Iveco S-Way[25] truck for the European market. The Tre will also be targeted for the Australian and Asian markets.[26] Nikola Motor Company says the Tre will have 500 to 1,000 horsepower and a range of 500 to 1,200 kilometers (310 to 745 miles).[27] CEO Trevor Milton stated that production is set to begin at the same time as the US truck versions, which is 2022–2023.[28]

Nikola Reckless

The Nikola Reckless is a military grade fully-electric tactical off-highway vehicle.[29]

Nikola Badger

The Nikola Badger is a hybrid hydrogen/electric pickup truck with an estimated range of 600 miles. This was officially announced 6/8/20.

  • Nikola Two
  • Nikola Tre
  • Nikola Tre, side view
  • Nikola Reckless
  • Nikola Reckless, side view

See also
  • Tesla Semi all-electric Class 8 battery powered semi truck tractor unit
  • Cummins Aeos battery-electric and diesel range extender Class 7 semi truck tractor unit
  • Toyota Project Portal fuel cell Class 8 truck

References
  1. Ringle, Hayley (October 19, 2018). "Behind the deal: How Nikola Motor steered its trucking technology to Arizona". Phoenix Business Journal. Retrieved January 7, 2019.
  2. Hsu, Tiffany (December 1, 2016). "Nikola One Hydrogen Fuel Cell Electric Semi-Truck Debuts". Trucks.com. Retrieved June 12, 2020.
  3. Hall-Geisler, Kristen. "Nikola Motor Company unveils its electric (mostly) truck". TechCrunch. Retrieved May 20, 2018.
  4. "Company Overview of Nikola Motor Company". Bloomberg. Retrieved May 20, 2018.
  5. Cao, Sissi (November 23, 2019). "Elon Musk Isn't the Only Electric Futurist Who Wants to Rectify Nikola Tesla's Legacy". Observer. Retrieved June 12, 2020.
  6. "Nikola Corp | Rsvps | Nikola World Public". Nikola Motor Company. Retrieved January 7, 2019.
  7. "Nikola World Registration Opens at 9 a.m. on Dec. 3". November 30, 2018. Archived from the original on January 8, 2019.
  8. O'Dell, John (March 25, 2019). "Nikola Closes Land Deal for Arizona Truck Plant". Trucks.com. Retrieved April 4, 2019.
  9. "Done Deal: VectoIQ's Merger With Nikola Motor Has Closed". The Motley Fool. June 3, 2020. Retrieved June 5, 2020.
  10. Foldy, Ben (June 9, 2020). "Electric-Truck Startup Nikola Bolts Past Ford in Market Value". wsj.com. Wall Street Journal. Retrieved June 10, 2020.
  11. https://www.youtube.com/watch?v=we4Kq9T97Jw
  12. "Nikola Zero UTV Driving Footage And Launch Videos". Retrieved November 6, 2016.
  13. "Nikola One Hydrogen Fuel Cell Electric Semi-Truck Debuts". Trucks.com. December 1, 2016. Retrieved December 3, 2016.
  14. "Dette er bilen som skal ta tungtransporten vekk fra diesel". Teknisk Ukeblad (in Norwegian). December 2, 2016. Retrieved December 3, 2016.
  15. Lambert, Fred (November 21, 2017). "We tested an insane electric UTV with more energy capacity than even the most powerful Tesla". Electrek.
  16. "Nikola Powersports". 2016.
  17. "Nikola One, America's first hydrogen-powered semi, is straight outta the future". Roadshow. CBS Interactive. December 2, 2016. Retrieved December 3, 2016.
  18. Inside the Nikola One hydrogen-electric semi-truck, at 4 min on YouTube.
  19. Lambert, Fred. "Nikola Motor claims it received over 7,000 pre-orders worth over $2.3 billion for its electric truck". Electrek. Retrieved June 15, 2016.
  20. Lambert, Fred. "Nikola Motor does a 180°, scraps plans for battery-powered truck, turns to hydrogen". Electrek. Retrieved August 31, 2016.
  21. "Nikola CEO Milton Explains Hydrogen Fuel Cell Truck Strategy". Trucks.com. December 2, 2016. Retrieved December 3, 2016.
  22. Nikola Unveils the Nikola One and announces the Nikola Two - 42 min video on YouTube.
  23. O'Kane, Sean (May 1, 2018). "Tesla sued for $2 billion by hydrogen truck startup over alleged patent infringement". The Verge. Retrieved May 2, 2018.
  24. "Anheuser-Busch orders hundreds of hydrogen trucks from zero-emission startup Nikola". The Verge. May 3, 2018.
  25. "Nikola & Iveco Partner To Bring The Battery Electric Nikola TRE To The EU". CleanTechnica. December 3, 2019. Retrieved December 3, 2019.
  26. Browne, Ryan (November 6, 2018). "Tesla rival Nikola Motor unveils hydrogen-powered truck for Europe". CNBC. Retrieved December 23, 2018.
  27. Ballaban, Michael (November 5, 2018). "The Nikola Tre Is the Not-Tesla Hydrogen Semi that Wants to Take On Europe". Jalopnik. Retrieved December 23, 2018.
  28. Stumpf, Rob (November 6, 2018). "Nikola Tre Is a Stylish, Hydrogen-Powered Semi Truck Destined for Europe". The Drive. Retrieved November 6, 2018.
  29. "Nikola Corp | Reckless". Nikola Motor Company. Retrieved June 10, 2020.
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