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Nikola Motors has raised more than $100M of its $200M Series C

Nikola Motor, a developer of hydrogen-fuel cell trucks, has already more than $100 million of its $200-million Series C funding round. CEO Trevor Milton anticipates the C round will be oversubscribed.

So far this year we have kicked-off plans to build the largest hydrogen network in the world with NEL, secured a massive 800-truck order commitment from Anheuser-Busch, developed the most energy dense battery system on the market with almost 400 watt hours per liter, engineered a 240 kW fuel cell, kicked-off electric vehicle stability controls and electric ABS with WABCO, designed a thermo-management and HVAC system with MAHLE, finalized the most advanced class-8 independent suspension on the market with Meritor, relocated our company to Arizona to build our new 150,000 sq. ft. headquarters and now closed on $100,000,000.

—Trevor Milton

Milton also added that the company will soon announce a 2019 event in Phoenix, where customers, suppliers, media and industry insiders will be able to see all the latest Nikola products unveiled and in action.

Nikola Motor’s zero-emission trucks—which will be able to travel between 500 and 1,200 miles and be refilled within 20 minutes—will be part of fleets beginning in 2020 and in full production by 2021. To date, the company has nearly eleven billion dollars in pre-order reservations.

By 2028, Nikola is planning on having more than 700 hydrogen stations across the USA and Canada. The first 14 stations will be up and running by 2021.

Comments

HarveyD

Great plans for near future Class 8 long range FC trucks and 800 H2 stations in USA and Canada. Let's hope that production/delivery schedules will be respected and units produced will meet users requirements.

Herman

But Eloooooonnnn.

CarCrazy

"Hold your horses", please. What is the cycling capability of fuel cells, again? Read about this, please. So, the company smartly abandoned the usage of a range extending turbine (low efficiency) and turned to the fuel cells ... which is (at this point) is BS too.
High temperature (800C) fuel cells are very efficient (more than 50%) but can withstand only very few temperature cycles. So, turn it on and run it continuously . But , again, ones one starts cycling it - bad news. Low temperature fuel cells are not that efficient, though.
Liquid Piston Engine might be a solution (very efficient, allegedly) in series hybrid architecture but it is only being developed and is not there yet in terms of required power. So, dream on ... or waste money if you have some.

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