Subsidiaries: Nikola Motor Company; Nikola Energy Company, Nikola Iveco Europe GmbH

Founded: 2014 in Salt Lake City, UT

Headquarters: Phoenix, AZ

Manufacturing: Coolidge, AZ

Website

Nasdaq (NKLA)

Nikola Corporation, formerly VectoIQ Acquisition Corp., is an American manufacturer of heavy-duty commercial battery-electric and hydrogen trucks, as well as power-sports vehicles. The Company provides zero-emissions transportation and infrastructure solutions. Its product lineup includes battery-electric and hydrogen-electric class 8 commercial trucks, off-highway vehicles and watercraft. It presented several zero-emission vehicle concepts from 2016 to 2020. The Company’s products include Nikola One, Nikola Two, Nikola Tre and Nikola Badger. Its power-sports concept vehicles include the Nikola NZT, Nikola Reckless and Nikola water adventure vehicle (WAV). The company went public on June 4, 2020.

Hydrogen is an abundant and efficient clean energy source with nearly three times the energy density as diesel. When used to power a fuel cell electric vehicle (FCEV), it emits zero carbon with water as the only byproduct. Hydrogen is an ideal energy source for long-distance heavy commercial transportation due to its energy density and lower weight. Nikola Corporation is working to deliver a hydrogen fuel cell truck and working together with several partners to develop the infrastructure to make hydrogen conveniently accessible at a competitive cost.

Electricity for battery-powered vehicles is available today. However, the ability to charge large batteries for commercial trucks still faces several challenges. Grid capacity, optimal recharging times, and infrastructure for effective operations are examples of complexities that remain. Nikola’s solution focuses on consulting their customers throughout the process and supporting the transition to permanent charging infrastructure with mobile charging solutions.