Written by Cláudio Afonso | LinkedIn | X
In an interview published on Tuesday, Nikola chief executive Steve Girsky highlighted the enhancements in the second generation of the manufacturer battery electric vehicle (BEV) trucks while teasing future aerodynamic designs.
Girsky mentioned that while the current focus is on the cab-over design, Nikola is considering future aerodynamic designs as battery electric and fuel cell electric vehicles become more prevalent. “We think a lot about future aero designs and have them on our roadmap,” he said.
In the first quarter of the year, the company began the process of returning these trucks to customers, following a recall last year due to fire incidents.
Since then, the BEV 2.0 trucks have been remediated with new battery packs and feature several upgrades, including increased payload capacity, improved battery performance, scheduled departure charging, and enhanced user interfaces via an updated instrument display and a more user-friendly mobile app .
“It’s got new and improved software, a bunch of new features, lighter weight, and a new battery,” Girsky explained. The new battery packs share components with Nikola’s fuel cell trucks, allowing for more efficient scaling. Key specifications such as range, horsepower, and torque remain similar to the previous model, with a slight reduction in weight.
In the first quarter, the company has produced 43 and wholesaled 40 Class 8 Nikola hydrogen fuel cell electric vehicles and also started the return process for the second generation fully electric trucks to customers.
Ryan May, Head of Software at Nikola, provided an in-depth walkthrough of the vehicle’s software. Emphasizing user-friendliness, the system includes a mobile key functionality accessible via a mobile app. This feature enables drivers to log into the vehicle easily, with important information displayed on a dual-screen setup comprising a 12-inch and a 17-inch screen.
“The screens offer a lot of real estate for critical functions,” said May. The in-cab software includes an energy page that shows energy capacity and range, Bluetooth connectivity for hands-free calling, and onboard diagnostics that eliminate the need for third-party tools. “We aim to keep it simple for the driver,” May added, noting that essential controls and diagnostics are now integrated into the screens.
One of the standout features of the Nikola BEV 2.0 is its advanced routing functionality, which allows drivers to input details about their load, including trailer dimensions and hazardous materials. This information helps the system to navigate routes that avoid low bridges and restricted roads, ensuring safe and efficient travel.
May demonstrated how the navigation system marks restricted roads on the map, providing drivers with clear indicators of where they cannot go. “The idea is to give the driver as many tools as possible to ensure they can follow the navigation and get to their route safely,” he stated.
NEVER MISS AN UPDATE
Shares of the electric vehicle (EV) manufacturer Nikola closed at $0.4902 per share on Tuesday, only 0.04 percent above the record low and resulting in a market cap of $665 million.
The company’s founder and former CEO Trevor Milton , announced on Saturday on social media that he has filed a multibillion-dollar derivative and malpractice lawsuit.
Milton, who stepped down as chairman in 2020 amid allegations of fraud, asserted in his post that the controversial video showing a Nikola truck rolling down a hill—purportedly to falsely demonstrate its functionality—was orchestrated by Worthen.
Last week, at the Annual Meeting, shareholders elected all the Directors and approved all proposals including a reverse stock split that will allow the share price to comply with Nasdaq requirement of trading above $1.
Vanguard Group, one of the world’s largest investment advisors, has been consistently increasing its stake in Nikola Corporation since the company’s initial public offering (IPO) in 2020 and the first quarter of 2024 was no exception.
By the end of last year, Nikola‘s institutional shareholders were holding about 200 million shares although the number has more than doubled to 450 million shares last month, according to Fintel data.
Both electric vehicle companies Nikola and Workhorse will be removed from the Russell 3000 Index, according to the official preliminary list of additions and deletions posted by FTSE Russell.
The Russell 3000 Index measures the performance of the 3,000 largest publicly traded companies in the U.S. by market capitalization.
Nikola has recently published its financial results for the first quarter of year reporting a decline in total revenues and a non-GAAP net loss per share of $0.09. The company produced 43 trucks in the first quarter of which 40 were shipped.
Written by Cláudio Afonso | LinkedIn | X
