Nikola’s Q1 leap with 43 new hydrogen trucks

In the first quarter of the year, Nikola has made significant headway in the production of hydrogen fuel cell electric trucks, manufacturing 43 units. This achievement marks a substantial stride toward the company’s ambitious annual target of delivering between 300 and 350 of these innovative trucks.

The 43 trucks produced account for approximately 12% to 14% of Nikola’s yearly production goal. However, it remains to be seen how Nikola plans to escalate its manufacturing processes to ensure the remaining trucks needed to meet their annual target are completed.

Distribution and Dealer Involvement

According to a recent press release from Nikola, all the trucks that have been wholesaled were immediately earmarked for delivery to end customers through Nikola dealers. Of these, forty trucks have already been wholesaled, with the three remaining vehicles also allocated.

Reflecting on the previous quarter, Nikola reported the production of 42 fuel cell electric trucks and successfully delivered 35 of these to dealers, indicating a sustained production capacity and delivery commitment.

Nikola Corporation - Q1

Expanding Hydrogen Refueling Infrastructure

In addition to ramping up truck production, Nikola is actively expanding its hydrogen refueling network. A notable development in this arena occurred in February when the company inaugurated a new hydrogen refueling station in Ontario, California. Nikola has plans to have nine such stations operational by the end of the second quarter. The company envisions these stations as key components of a future heavy-duty “hydrogen highway” catering to long-haul trucks across the region.

Steve Girsky, the CEO and President of Nikola, shared his optimism in a LinkedIn post, declaring 2024 as a transformational year not just for Nikola but for the entire industry. This forward-looking perspective underscores the company’s commitment to spearheading significant changes in the transportation sector, particularly through the adoption and promotion of hydrogen fuel technologies.

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