Nikola Company stories progress associated to its Class 8 battery-electric truck gross sales and the beginning of manufacturing of the hydrogen gas cell model.
Let’s begin with the all-electric Nikola Tre mannequin, which throughout the second quarter of 2023, famous 45 Wholesales and 66 retail deliveries. Manufacturing throughout the interval, amounted to 33 models (down from 63 in Q1 and from 50 in Q2 2022) as a result of manufacturing was placed on maintain.
Nikola Tre leads to Q2 and H1 2023:
Wholesale: 45 and 76 Retail: 66 and 99 Manufacturing: 33 and 96
We’re not certain when the Nikola Tre will enter manufacturing once more, nevertheless it’s price noting that the corporate is working to deliver the battery pack manufacturing line in-house in Coolidge, Arizona (after closing down battery manufacturing operations of Romeo Energy, acquired in 2022).
“Progress additionally continued on the battery pack line set up in Coolidge. After we resume battery-electric truck manufacturing, the battery packs utilized will likely be constructed at our facility in Coolidge.”
In the meantime, the hydrogen gas cell Nikola Tre FCEV entered collection manufacturing on July 31, 2023 and the primary buyer deliveries are anticipated in September.
In line with Nikola, 18 prospects positioned orders to Nikola and its sellers for over 200 hydrogen gas cell electrical vans.
It appears like place to begin for the hydrogen model of the Class 8 truck, however after all, it is not a quantity that may maintain long-term operations. Nikola famous that the present manufacturing capability of the power is 2,400 vans per yr on three shifts (800 per yr on one shift, or 200 per quarter on one shift).
In different phrases, there have to be much more orders to maintain the plant busy. Moreover, Nikola has to finish the battery pack manufacturing line and gas cell energy module meeting line. The gas cell energy module manufacturing must be prepared in This fall 2023, which can enable the usage of in-house produced methods, as a substitute of these provided by Bosch.
“Progress continued on the gas cell energy module meeting line. We anticipate the gas cell energy module meeting line to be accomplished in This fall of this yr. Gasoline cell energy modules utilized in hydrogen gas cell electrical vans in 2023 will likely be constructed and shipped to Coolidge by Bosch.”
One other essential component of the long run progress of Nikola is the hydrogen refueling infrastructure, particularly for vans.
The corporate famous two issues – the beginning of the event course of for eight stations, out of which first to enter operation earlier than the top of 2023, and the upcoming deployment of 9 cellular hydrogen fuelers:
“…we now have begun the station improvement course of for eight (8) preliminary stations. Our first station in Ontario, California is anticipated to enter operation by the top of 2023” “We anticipate to deploy 9 (9) hydrogen cellular fuelers at a number of areas in California by the top of 2023 to assist zero-emissions trucking operations.”
The Nikola’s Phoenix Hydrogen Hub venture positioned in Buckeye (close to Phoenix), Arizona, was acquired by Fortescue Future Industries (FFI), as the corporate needed to free its capital sources. The location is anticipated to be a high-volume hydrogen manufacturing website.
Time will inform whether or not the hydrogen infrastructure will likely be prepared on time to assist the rollout of the primary autos. With out the refueling infrastructure, there will likely be not a lot worth within the promised vary of as much as 500 miles (over 800 km) and an estimated fueling time of roughly 20 minutes.
By way of funds, in Q2 Nikola famous greater than $15.3 million in revenues (in comparison with $18.1 million a yr in the past), whereas its web loss amounted to just about $218 million (in comparison with a web lack of $173 million a yr in the past).
Let’s recall that earlier this yr, Nikola Company and Iveco Group introduced a brand new chapter of their partnership, mainly parting methods and specializing in their core markets (respectively North America and Europe). Nikola accomplished the sale of the European three way partnership to Iveco.