Nikola (NASDAQ:NKLA)
On Wednesday, Nikola (NASDAQ:NKLA) reported receiving orders for one hundred Class 8 Nikola Tre hydrogen fuel cell electric cars. According to the business, shipments of purpose-built heavy-duty vehicles would start in the fourth quarter of 2023.
According to Nikola Chief Executive Officer Michael Lohscheller, the business is thought to be the only one in the United States to have a Class 8 hydrogen FCEV that will be accessible in the year 2023. The FCEV’s engineering and assembly will take place in the United States, as will the development of a wide range of forthcoming hydrogen energy options.
On the Tre FCEV, Nikola says: “The Nikola Tre FCEV is anticipated to have one of the longest ranges of all commercially available zero tailpipe emission Class 8 trucks due to its range of up to 500 miles and its estimated fueling time of approximately 20 minutes. These specifications are based on expected technological advancements. The Tre FCEV is an excellent choice for a wide range of applications, including drayage and intermodal transport, a metro-regional truckload and less than truckload transport, and specialty hauling use cases.”
It was observed that the California Air Resources Board had a vital role in acquiring many of the one hundred sale orders anticipated to convert into purchase orders after the successful conclusion of the demonstration projects. Customers that purchase Nikola’s Tre FCEV may take advantage of a point-of-sale bonus that begins at $240,000 and goes up to $288,000 per truck in 2023, thanks to the HVIP program. As a result of the Inflation Reduction Act being signed into law, consumers will be qualified to receive a tax credit of up to $40,000 from the federal government for purchasing environmentally friendly commercial vehicles.
The price of Nikola stock increased by 1.05 percent during the early trading session on Wednesday.
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