Nikola designs and manufactures hydrogen-electric vehicles, drivetrains, vehicle components, energy storage systems, and hydrogen stations, with a focus on Class 8 heavy-duty trucks. The company develops proprietary hydrogen fuel-cell and battery technology and markets an industry-first 'all-in' lease rate that includes vehicle, service, maintenance and fuel. Nikola reports more than 14,000 trucks on preorder and aims to commercialize models including the Nikola ONE, TWO and TRE for North American and European markets. To accelerate industrialization and production timelines, Nikola entered a strategic partnership with CNH Industrial (IVECO and FPT Industrial) to provide product development, manufacturing engineering, technical assistance and supply of key components. Longer-term plans include a European joint venture to launch both battery-electric (BEV) and fuel-cell electric vehicles (FCEV) by Q4 2022 and cooperation to develop hydrogen refueling infrastructure in North America and Europe. The company is privately held and headquartered in Phoenix, Arizona. Nikola is a Phoenix, AZ-based maker of electric vehicles, components, energy storage systems and drivetrains. Led by CEO Trevor Milton, the company designs and manufactures fully-electric, hydrogen-powered semi-trucks as well as vehicle components, energy storage systems and drivetrains. Its product line includes the Nikola One (a fully-electric hydrogen-powered sleeper semi-truck), the Nikola Two (a fully-electric hydrogen-powered day cab available in North & South America) and the Nikola Tre (a fully-electric hydrogen-powered day cab available in Europe, Asia and Australia). The company also offers Nikola H2 stations and says it plans to create a large global hydrogen network. Financially, Nikola raised an additional $105M in Series C funding, bringing the Series C to $210M in total; the backers were not disclosed.

Total raised

$460M

Funding rounds

2

Latest round

Series D

Latest activity

Sep 2019