Nikola Unveils 500-Mile Range Hydrogen Truck — CEO Says, Focused On 'Securing Our Position' As Pioneers
Portfolio Pulse from Anan Ashraf
Nikola Corp has launched its hydrogen fuel cell EV, a class-8 truck, with a range of up to 500 miles. The company has received 223 non-binding orders from 23 customers. Nikola's battery electric vehicles deliveries have been halted due to a recall following several fire reports, but this will not affect the production or deliveries of the FCEVs. Nikola trucks are eligible for a $40,000 clean commercial vehicle tax credit per vehicle under the Inflation Reduction Act. Tesla CEO Elon Musk has criticized government backing of Hydrogen as inefficient.
September 29, 2023 | 2:35 am
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NEGATIVE IMPACT
Tesla's CEO Elon Musk's criticism of hydrogen as an inefficient fuel source could potentially impact the company's stance on hydrogen fuel cell technology.
Elon Musk's criticism of hydrogen as an inefficient fuel source could potentially impact Tesla's stance on hydrogen fuel cell technology. This could affect the company's future plans and strategies in the EV market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nikola's launch of its hydrogen fuel cell EV could boost its position in the market, despite the ongoing recall of its battery electric vehicles.
The launch of Nikola's hydrogen fuel cell EV, along with the non-binding orders it has received, could potentially boost its stock. The recall of its battery electric vehicles is a concern, but the company has clarified that it will not affect the production or deliveries of the FCEVs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100