Tag: Nikola

Nikola Motors to lease 100 FCEV trucks to PGT
Electric Trucks

Nikola Motors to lease 100 FCEV trucks to PGT

Nikola Motor has announced a collaboration with international multi-service flatbed transportation company PGT Trucking to advance electric drive heavy-duty transport. This collaboration includes a Letter of Intent to lease 100 Nikola Tre. The agreement is dependent on following the satisfactory completion of a Nikola Tre FCEV demonstration program under terms to be agreed to between the parties and will include both the vehicles, as well as scheduled maintenance and hydrogen fueling solutions. Nikola Tre FCEV 2022 Model (Company presentation) Deliveries of the FCEV trucks to PGT are expected to launch in 2023. “We are excited that PGT has elected to partner with Nikola in advancing and adopting FCEV technology,” said Nikola President, Energy and Commercial Pablo Koziner. “P...
Nikola Motors parters with TC Energy to install ‘Hydrogen Hubs’ production facilities
Battery & Fuel Cell

Nikola Motors parters with TC Energy to install ‘Hydrogen Hubs’ production facilities

Nikola Motor is forging partnerships to develop and install hydrogen fueling infrastructure in North America.Nikola has announced a strategic collaboration with TC Energy aiming to install ‘Hydrogen Hubs’. TC Energy, a North American energy infrastructure company, has agreed to collaborate on co-developing, constructing and operating large-scale hydrogen production facilities, which they call hubs, in the United States and Canada. Nikola says its energy business unit and TC Energy were “actively collaborating” to identify and develop projects to establish the planned hydrogen hubs in what the companies consider “key geographic locations”. Nikola Motors Tre Fuel Cell Truck Nikola Motors defines hubs as producing 150 tonnes or more of hydrogen per day near highly travelled tru...
Nikola stock down after the Company announces new Share offering
Battery & Fuel Cell, Electric Trucks

Nikola stock down after the Company announces new Share offering

Nikola had already entered into an agreement to sell up to $300 million worth of shares to Tumim Stone Capital in June. The electric truck maker has signed a second purchase agreement with the investment bank, bringing the total to $600 million. Nikola Stock dropped after the announcement. Since entering into the first agreement, Nikola has already sold nearly $47 million worth of common shares to Tumim, according to Reuters. Under the second purchase agreement, Nikola will have the right, but not the obligation, to issue and sell up to $300 million of additional common shares to Tumim. This is subject to a number of restrictions. Nikola Truck “The equity lines with Tumim, together with the estimated cash, will provide Nikola with access to approximately $800 million of liquidit...