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Dive Brief:
- Nikola made its first production line of hydrogen fuel cell electric trucks in late 2023, delivering 35 such vehicles in the 4th quarter, according to earnings announcement.
- The vehicles are used by customers Biagi Bros., IMC Logistics, Coyote Container and 4 Gen, Nikola CEO Steve Girsky said. earnings call February 22.
- “We could have sold more trucks if there weren’t restrictions on parts suppliers,” Girsky said, adding that the problems are beginning to be resolved.
Dive Insight:
The company sees itself as a market leader because of the requests made by businesses to buy its products using California money.
Of the 360 coupons requested for hydrogen fuel cell tractors from 2023 to January 2024, 99% were for the Nikola brand, according to the company.
“There are more HVIP voucher requests for our hydrogen fuel cell electric truck than all other battery and fuel cell electric truck OEMs combined during the same period,” Girsky also said.
Nikola is focusing on two main markets, California and Canada, because of incentives for zero-emission vehicles there.
In California, financial assistance is also available through the Clean Truck and Bus Voucher program known as HVIPwith incentives up to $288,000 through HVIP and $408,000 through Innovative small e-Fleet pilot program, according to Nikolas.
Canada Incentive Program Offers for Medium and Heavy Duty Zero Emission Vehicles up to $200,000.
Girsky said the company eventually plans to expand beyond those areas, but first it needs to build density to make it work.
“I’m sure as we go through the year, there will be other purchases,” he said. “But right now, California and Canada are our two best markets.”
The company plans to deliver 300 to 350 fuel cell electric trucks in 2024.