Nikola Secures $41.9M Grant, Accelerating Zero-Emissions Infrastructure For Heavy-Duty Hydrogen Fuel Cell Electric Trucks In California
Portfolio Pulse from Happy Mohamed
Nikola Corporation (NASDAQ:NKLA) has been awarded a $41.9 million grant by the California Transportation Commission (CTC) to build six heavy-duty hydrogen refueling stations across Southern California. The grant is part of the Trade Corridor Enhancement Program (TCEP) and will be used to further Caltrans' zero-emission vehicle (ZEV) strategy. The stations are expected to facilitate refueling for approximately 80 to 100 trucks per station per day and are designed to scale up over time.
July 05, 2023 | 8:01 pm
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The $41.9 million grant awarded to Nikola Corporation by the CTC will accelerate the deployment of zero-emissions hydrogen refueling infrastructure, which is vital for the successful launch of their hydrogen fuel cell electric trucks. This could potentially increase the company's market share in the zero-emissions transportation sector.
The grant will allow Nikola to build six heavy-duty hydrogen refueling stations, which will facilitate the refueling of approximately 80 to 100 trucks per station per day. This infrastructure is expected to be established in advance of the anticipated surge in adoption of Nikola's hydrogen fuel cell electric vehicles, demonstrating the company's commitment to sustainable transportation solutions. This could potentially increase the company's market share in the zero-emissions transportation sector.
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