It looks like the Nikola Motor Company is well-placed as it gets closer to full production of its hydrogen-powered trucks.
The U.S. business has just announced its latest investment offer was oversubscribed to the tune of $100 million USD.
The Nikola CEO Trevor Milton saying the business is in great shape as the countdown to truck production begins.
“Nikola’s business model has been vetted, and the investment world is taking notice.”
It’s been a busy 2018 for the start-up with the CEO listing achievements this year including:
- Securing an 800-truck order from brewers, Anheuser-Busch
- A commitment to build the world’s largest hydrogen network across the USA and Canada
- The development of “the most energy dense battery system on the market”
- Signing a deal with WABCO on stability control and ABS systems
- The construction of a new 150,000 sq. ft. headquarters
So, when will they start building trucks?
Nikola Motor Company say their zero-emission trucks will be part of fleets beginning in 2020 and in full production by 2021.
And they say they have nearly eleven billion USD in pre-order reservations.
- Related: Nikola Motors trucks to be built in Arizona
- Related: Nikola has dig at Tesla over financial woes
- Related: Nikola to sue Tesla over truck cab design
At this stage there has been no commitment made by Nikola Motor Company around making their trucks available in Australia.
We’ll keep you updated though with further info on Nikola Motor Company as details come to hand.