Nikola develops zero-emission heavy-duty trucks powered by proprietary hydrogen fuel-cell and battery technology, targeting Class 8 applications in North America and Europe. Its product lineup and programs include the NAFTA-compliant Nikola ONE sleeper, the Nikola TWO day-cab, and the Nikola TRE cab-over (with IVECO S-Way integration). The company plans to industrialize the Nikola TWO for North America and integrate IVECO technology into the TRE for North America and Europe, and to launch BEV and FCEV models in a European joint venture by Q4 2022. Nikola also offers an industry-first all-in lease rate that bundles vehicle, service, maintenance and fuel to deliver total cost-of-ownership certainty. It is working with partners including CNH Industrial/IVECO/FPT, Bosch, Meritor and WABCO and is developing hydrogen refueling infrastructure with partners. The company moved from Salt Lake City to Phoenix and was launched in 2015; Trevor Milton is its CEO and holds a stake of more than 40%, which Forbes values at roughly $1.1 billion following the CNH investment. Nikola Motor Company is a privately held designer and manufacturer of hydrogen-electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. The company is led by CEO Trevor Milton and is headquartered in Salt Lake City, Utah. Nikola positions itself as a leader in zero-emission commercial truck development and plans to begin testing its trucks with commercial fleets in late 2018. The company targeted a full production launch in 2021. Nikola has partnered with suppliers to advance autonomous and safety systems for electric commercial vehicles. The company’s product roadmap emphasizes heavy-duty, zero-emission semi-trucks and supporting drivetrain and energy solutions.

Total raised

$260M

Funding rounds

2

Latest round

Series D

Latest activity

Sep 2019