Nikola Celebrates 100 Sale Order Milestone for Nikola Tre Hydrogen FCEV Class 8 Truck

DETROIT, March 29, 2023 /PRNewswire/ -- At today's Automotive Press Association meeting in Detroit, Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, announced that Nikola and its dealer network have received orders for 100 Class 8 Nikola Tre hydrogen fuel cell electric vehicles (FCEVs). Deliveries of the purpose-built heavy-duty trucks will begin in Q4 2023.

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Nikola and its dealer network have received orders for 100 Class 8 Nikola Tre hydrogen fuel cell electric vehicles (FCEVs). Deliveries of the purpose-built heavy-duty trucks will begin in Q4 2023.

"We believe Nikola is the only company in the U.S. with a Class 8 hydrogen FCEV available in calendar year 2023, engineered and assembled in the U.S., as well as a variety of upcoming hydrogen energy solutions," said Michael Lohscheller, Nikola's President and CEO. "Customers are recognizing this and are demanding zero-emissions trucking solutions to fulfill their shipping needs and to meet their environmental, social and governance goals. And it will have quite an effect, as one heavy-duty zero-emission truck equates to removing 23 gasoline-powered passenger cars from the road in annual CO2 emissions."

With a range of up to 500 miles and an estimated fueling time of approximately 20 minutes based upon expected technology improvements, the Nikola Tre FCEV is anticipated to have among the longest ranges of all commercially available zero tailpipe emission Class 8 trucks. The Tre FCEV is well-suited for a variety of applications ranging from drayage and intermodal to metro-regional truckload and less than truckload and specialized hauling use cases.

The California Air Resources Board ("CARB") Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project ("HVIP") program, played a significant role in securing many of the 100 sale orders that are expected to convert to purchase orders following the satisfactory completion of the demonstration programs.

The HVIP program enables customers of Nikola's Tre FCEV to access a point-of-sale incentive starting at $240,000 and ranging up to $288,000 per truck, in 2023. Customers will also be eligible for a $40,000 clean commercial vehicle tax credit from the federal government due to the passage of the Inflation Reduction Act. 

California's HVIP is an important incentive program intended to advance commercialization and to help reduce the total cost of ownership of hybrid and zero-emission commercial vehicles in the state of California. The program is unique in that it accelerates the adoption of zero tailpipe emission commercial vehicles on a first-come, first-served basis that does not require the retirement and scrappage of an existing diesel vehicle.

"This 100 sale order milestone is certainly something to celebrate and shows the commitment of our customers, dealers, employees and stakeholders," continued Lohscheller. "And this is expected to be the first of many upcoming announcements."

ABOUT NIKOLA CORPORATION

Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, via the HYLA brand, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.

SOURCE Nikola Corporation