Stock Groups

Nikola to deliver 300-500 electric trucks in 2022 -Breaking

[ad_1]

© Reuters. FILE PHOTO – The U.S. Nikola logo was displayed during an event that CNH hosted to show its new fully-electric and hydrogen fuel-cell truck at a joint event with U.S. Nikola in Turin, Italy on December 3, 2019. REUTERS/Massimo Pinca

(Reuters) –Nikola Corp announced Thursday that it aims to ship 300-500 Tre BEV electric vehicles this year as part of its expansion in Coolidge.

Although the company has not reported any truck sales revenue, it delivered its two first electric trucks to TTSI, a port trucking company in southern California, as part of a pilot program lasting three months.

In the quarterly report, Nikola chief executive officer Mark Russell stated that Pre-Series Tre BEEVs were being delivered to dealers and customers during the fourth quarter. He also said that Coolidge is undergoing increased production.

“We are anticipating that the TreBEV series will begin production by March 21.”

Nikola worked with the U.S. Securities and Exchange Commission, (SEC), to pay a $125m penalty to resolve a charge against Trevor Milton. It claimed that it had already paid its first installment of last December and was looking for reimbursement from Milton.

Reuters reached Milton’s representatives but they did not respond immediately to our requests.

U.S. regulators have charged Milton with repeatedly misleading investors by using social media about electric-truck maker Milton’s capabilities and technology. As a result, he has reaped “tens to millions of dollars.”

Phoenix, Arizona-based startup tried to end this chapter in order to concentrate on production. The company said it anticipated that the Coolidge Arizona expansion would be completed by the third quarter of 2023.

Nikola will be able to produce up to 22,000 trucks per year in the larger facility, according to company.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is among the most risky investment options. Please make sure you are fully aware of all the costs and risks involved.

[ad_2]