Written by Cláudio Afonso | LinkedIn | X
Nikola said on Wednesday it has produced its 300th hydrogen-powered truck at its Coolidge, Arizona, manufacturing plant.
The EV startup, which produces battery-electric and hydrogen-powered trucks, reported in early October that it had wholesaled 235 units of its hydrogen fuel cell truck cumulatively as of September 30 — indicating that about 65 trucks were produced between October 1 and mid-November.
“For the first three quarters of 2024, Nikola wholesaled 200 hydrogen fuel cell trucks, and 235 total since the truck went on sale in Q4 of last year,” the company said in a statement on October 2.
On the last day of October, amid the release of the third quarter financial results, the EV startup reaffirmed its volume guidance of 300-350 hydrogen powered trucks by year-end indicating that it expects to produce between 100 and 150 vehicles this quarter.
This Wednesday the company announced that the 300th Nikola hydrogen fuel cell electric truck rolled off the production line in Arizona.
“A huge congratulations to the manufacturing team in Coolidge, AZ, as we celebrate the 300th Nikola hydrogen fuel cell electric truck coming off the production line. This milestone reflects the innovation that drives us forward every day. Thank you to our entire team for making this happen,” Nikola said on social media.
Despite achieving record shipments of 90 units and wholesale deliveries of 88 in the third quarter, net revenue reached $25.2 million in the third quarter, falling short of the consensus estimate of $37.2 million.
During the earnings conference call, the company announced that its net revenue was negatively impacted by $7.7 million as it repurchased 20 BEV trucks from one of its dealers.
In the earnings call, the company’s CFO Tom Okray said Nikola has “a PO in hand to deliver these units to another dealer.”
“We have a customer for them [the 20 returned trucks] in Q4,” Okray added later in the call.
Nikola said it had already handed back 78 BEV trucks to dealers and fleets citing “overwhelmingly positive feedback” after a major recall last year. The CFO added later in the call that the company also has another 81 units to be returned.
Additionally, Nikola disclosed that has 150 BEV trucks in its inventory.
Last month, Nikola announced that it provided more than 5,000 hydrogen fueling sessions between December 27, 2023, and September 30.
DHL Supply Chain and the drinks firm Diageo announced recently that they will add two fuel cell electric trucks (FCEV) from Nikola to their U.S. fleet.
Written by Cláudio Afonso | LinkedIn | X
