Dive Brief:
- Nikola carried out its first line of production of hydrogen fuel cell electric trucks at the end of 2023, delivering 35 such vehicles in Q4, according to an earnings announcement.
- Vehicles are in use by customers Biagi Bros., IMC Logistics, Coyote Container and 4 Gen, Nikola CEO Steve Girsky said on an earnings call Feb. 22.
- “We could have sold more trucks if not for supplier part constraints,” Girsky said, adding that issues are starting to resolve.
Dive Insight:
The company sees itself as a leader in the market because of requests that businesses made to buy its products using California grant money.
Of the 360 vouchers requested for hydrogen fuel cell tractors from 2023 through January 2024, 99% involved Nikola’s brand, according to the company.
“There are more HVIP voucher requests for our hydrogen fuel cell electric truck than all other OEMs combined on battery electric truck and fuel cell in that same period,” Girsky also said.
Nikola is focused on two main markets, California and Canada, due to incentives for zero-emission vehicles there.
In California, financial assistance comes through its Clean Truck and Bus Voucher program, also known as HVIP, with incentives up to $288,000 through HVIP and $408,000 through the Innovative Small e-Fleet Pilot Program, according to Nikola.
Canada’s Incentives for Medium- and Heavy-Duty Zero-Emission Vehicles Program offers up to $200,000.
Girsky said the company eventually plans to extend beyond those areas but first needs to build density to make it work.
“I'm sure as we move through the year, there'll be other markets,” 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.
