Nikola has less need for partners for its hydrogen fueling stations now that it has a sweet price for electricity in Arizona.
Truck Talk, is a weekly newsletter where FreightWaves adds context, commentary and color to industry news and trends.
Nikola’s Arizona electric truck plant is going up in phases to allow for fast movement and capital control, said Mark Duchesne, global head of manufacturing at Nikola.
The supply chain for electric vehicles has major pinch points in battery components and charging infrastructure.
With medium- and heavy-duty trucks already using its electrified chassis, Xos Trucks will have $575 million to scale its business following a SPAC merger.
Hydrogen-powered fuel cells always seem to be five or 10 years from a meaningful presence on the transportation stage. That may finally be changing.
From truck parts to fuel cells, business leaders face challenges in getting critical components and meeting customer expectations for delivery.
Electric chassis maker Xos Trucks may be the next electrification startup to get a financial injection by merging with a special purpose acquisition company, Reuters reported Monday.
Welcome to FreightWaves Truck Talk, your Friday look at industry news with context, perspective and a bit of commentary. You can get Truck Talk delivered via email by subscribing at https://www.freightwaves.com/truck-talk.
End-to-end ecosystem combines Navistar trucks, GM fuel cell systems and mobile hydrogen producer in test on dedicated J.B. Hunt Transport routes.
FreightWaves Truck Talk is a weekly newsletter adding perspective, context and commentary to industry news and trends.
When he tried to sell GM’s iconic Hummer brand to the Chinese a decade ago, Jim Taylor never imagined he would import tiny electric delivery van bodies from China to finish in the plant that spawned the hulking SUV.
In today’s edition of The Daily Dash, YRC’s government loan is coming under increased scrutiny. Plus, the 20 Best Fleets to Drive For are named and a bill to allow truck drivers to carry a concealed weapon has been introduced in Congress.
Nikola is recasting its board of directors to make crisis management and business expertise available to management as the electric truck startup seeks to regain credibility lost after a stratospheric beginning as a public company.
Mark Duchesne’s resume includes working at process-driven Toyota Motor Corp. and freewheeling Tesla Inc. Now he is trying to keep Nikola’s $600 million plant on schedule to build battery-electric trucks and the first fuel cell electric trucks by the end of 2021.
Dooner and Michael Vincent count down their favorite WHAT THE TRUCK?!? episodes of 2020 and get stoked for 3 days of WTT?!? in 2021.
In today’s edition of The Daily Dash, Republic Services has canceled a 2,500-truck order with embattled hydrogen-electric truck maker Nikola Corp. Plus, Forward Air is on the road to recovery following a ransomware attack and Roehl is the latest carrier to announce a driver pay increase.
In the latest blow to already beleaguered Nikola Corp., Republic Services canceled an order for 2,500 battery-electric refuse trucks. It further calls into question how Nikola will generate revenue.
Arizona’s largest public utility is seeking permission to sell cheap electricity to Nikola Corp. that would help the startup electric truck maker afford to build hydrogen fueling stations for its fuel cell electric trucks.
Soaring heights and crashing lows describe Nikola Corp.s first six months as a public company. Allegations of fraud and a stock price decline from the high $70s to the upper teens led Yahoo Finance users to vote the electric truck startup the worst company of the year.
In today’s edition of The Daily Dash, ArcBest is the latest LTL carrier to report a strong start to Q4. Plus, 2020 supply chain trends are likely to continue into 2021, and Trevor Milton has begun to sell shares in Nikola Corp.
In a federal filing, Nikola founder Trevor Milton reports selling about 3.2 million of his 91.6 million shares in the electric truck startup.
Arizona officials rooting for Nikola Corp. to make good on its plans for a $600 million electric truck assembly plant and hundreds of new jobs say construction is progressing.
Lockup expiration sends Nikola shareholders heading for the exits for second consecutive day as stock loses about 40% of its value.
With equity stake off the table in the Nikola-General Motors deal, what does that mean for the future of the Badger electric pickup truck?
Nikola telegraphed that an equity deal with General Motors was iffy following a short seller’s fraud claims by the electric truck startup. On Monday, GM and Nikola said they may work together to integrate GM fuel cells in Nikola trucks, a small piece of the grander plan.
Excerpt: Nikola and GM signed a nonbinding memorandum of understanding to use the automaker’s Hydrotec fuel cells in its heavy-duty trucks. But GM walks away from taking an equity stake and the Badger electric pickup is dropped.
Nikola Corp. founder Trevor Milton can sell his 92 million shares on Monday, creating a glut of stock that could drive the already volatile share price lower.
Cowen Inc. helps bolster the balance sheets of startup electric vehicle companies by recruiting private investment in public equity to help young companies earn higher valuations.
With European investors and loads of experience in Asia, Hyzon Motors is targeting the U.S. for heavy-duty fuel cells it plans to build in General Motors’ former research and development facility.
In today’s edition of The Daily Dash, J.B. Hunt is not expecting a slowdown in freight through at least the first quarter of 2021. Plus, Nikola Corp. and General Motors continue talking about a battery agreement, and some roads are just made for truckers.
The official line on continuing negotiations is unchanged. But Nikola’s CEO refers to GM batteries and fuel cells for its trucks as alternatives.
Manufacturers take varied approaches to avoiding the chicken-and-egg conundrum of electric trucks. PACCAR is selling and financing them with leases for battery-powered trucks.
Barry Engle and his Qell Acquisition Corp. raised $380 million to invest in a next-generation mobility startup. But how many great candidates are left in the SPAC craze?
The vote to complete a reverse merger for commercial electric pickup startup Lordstown Motors is set for Oct. 22 amid greater than run-of-the-mill business risks.
Commercial vehicle battery maker Romeo Power gets a blank check company’s backing as investors target electric components and infrastructure for electric trucks.
Hyliion Holdings Corp. CEO Thomas Healy draws distinctions between his company and embattled Nikola Hyliion begins public trading.
In today’s edition of The Daily Dash, the future of Nikola’s Badger electric pickup is up in the air; President Donald Trump signs a one-year funding extension for surface transportation programs; and a major survey on truck parking nears completion.
Nikola Corp. appoints a veteran financial executive to its board of directors, replacing a retiring board member with close ties to departed founder Trevor Milton.
After three weeks of negative media following a short seller’s allegations of fraud, Nikola is fighting back. The startup electric truck maker showed a timeline of planned milestones to reel back fleeing investors and keep customers from canceling orders.
A week after renewing confidence in embattled Nikola Corp. and indicating its deal to manufacture the startup’s electric pickup truck was on track, General Motors has dropped its supportive language.
Holders of stock in a shell corporation voted Monday to merge with electric driveline maker Hyliion Corp., pledging $560 million to fund the startup’s business plan to make heavy-duty trucks cleaner and quieter.
Startup hybrid truck drivetrain maker Hyliion expects to complete its short trip to public trading on Monday when Tortoise Acquisition shareholders count votes on a reverse merger under which Hyliion would trade on the NYSE and get $560 million to fund its business plan.
Canadian EV manufacturer Lion Electric plans to deliver its first battery-powered electric trucks in October as orders from Amazon and CN generate buzz.
Nikola Corp.’s hunt for a partner to build hydrogen fueling stations for its electric trucks stalled because of a short seller report attacking founder Trevor Milton on the startup’s technology claims, the Wall Street Journal reported.
Nikola’s chief financial officer tried to clear a cloud of confusion over the startup electric truck maker, dissecting who does what on the Nikola Tre that goes into production in Europe in 2021.
South Korea’s Hyundai will test heavy-duty fuel cell trucks in the U.S. in 2021 as Nikola resets following its founder’s departure.
The fallout at Nikola could place additional scrutiny on new public offerings and nontraditional special purpose acquisition companies.
VCs talk SPACs and clean tech investment in wake of Nikola scandal.
Shares of electric truck maker Nikola Corp. sag 20% on the announcement its founder and executive chairman was stepping down, following the fallout from a short seller report questioning the company’s technology claims.
Nikola founder Trevor Milton’s departure from the company “was not a termination,” the company said in a federal securities filing. And while Milton remains a billionaire on paper, he gives up a lot in leaving the startup electric truck maker.
Nikola founder Trevor Milton is out as executive chairman of the electric truck startup, the latest fallout from a brutal report by a short seller accusing him of lying about the company’s technology.
Electric trucks from PACCAR siblings can get California rebates when the fund is replenished; Daimler shows future battery and fuel cell trucks; and FMCSA grants Bosch a video mirror waiver.
Nikola’s 700-station hydrogen fueling network will use solar, nuclear or whatever clean energy is cheapest. Some locations will require truck delivery because electricity costs too much to make hydrogen on-site.
After testing its battery-powered LR Electric refuse truck in New York City and with Republic Services, Mack Trucks will take orders in Q4 for deliveries in 2021. Republic, however, committed in August to startup Nikola for 2,500 cabover Tre models beginning in 2022.
Short seller Hindenburg Research renewed its attack on Nikola after successfully beating down its shares. Nikola clams up as to whether the SEC is investigating.
After delaying a rebuttal to short seller Hindenburg Research’s screed on the electric truck startup’s integrity, Nikola publishes detailed responses to 15 of the accusations Monday, calming jittery investors.
Hindenburg Research, which makes money betting against companies with high stock prices, issued a blistering takedown of Nikola, alleging massive fraud by founder Trevor Milton. Nikola says the report is trying to manipulate its stock.
After creating about 50 millionaires on paper a couple of weeks earlier, Nikola founder Trevor Milton gives another million shares of his personal holdings to 350 employees.
Former General Motors Vice Chairman Steve Girsky, who led startup truck maker Nikola to its public debut in June, earlier suggested to GM that its battery and fuel cell technology could create value for both companies.
General Motors is putting its battery and fuel cell expertise to work for startup electric truck maker Nikola in exchange for an 11% ownership stake worth $2 billion.
General Motors Co. (NYSE: GM) will become an 11% owner of electric truck startup Nikola Motors Corp. (NASDAQ: NKLA) and build the battery-electric Badger pickup as well as providing the […]
Nikola Executive Chairman Trevor Milton says buzz-building is part of the startup electric truck company’s growth strategy as its closes in on producing Class 8 trucks.
Republic Services places largest single order in refuse market history, justifying Nikola’s decision to build its cabover Tre model in the U.S. after European launch in 2021.
The focus on stock price gyrations in Nikola Corp. overlooks a major part of its business plan — making and selling hydrogen fuel for its trucks and anyone who wants it.
More than a year from producing heavy-duty electric trucks, newly public Nikola reported an $86.6 million second-quarter operating loss.
Startup electric truck maker Lordstown Motors takes trendy reverse merger route to public ownership, and a $1.6 billion valuation.
Before mass-producing electric trucks in Arizona, Nikola plans hand-built models in a pilot facility that will speed sales while phased construction of its $600 million plant proceeds.
Owners of low-priced warrants for new shares and pre-merger discount buyers registered to cash out of electric truck startup Nikola leading to an after hours selloff on Friday, July 17.
Electric truck makers Nikola and Tesla make news almost daily. A new biopic about inventor Nikola Tesla suggests he saw the world his namesakes are seeking to create.
Nikola experienced a V-shaped recovery in its share price as storytelling in place of revenue drives enthusiasm and disdain for publicly traded electric truck startups.
High-flying Nikola Corp. (NASDAQ: NKLA) came back to earth Thursday as early investors in the electric truck startup sold discounted shares at a handsome profit. With lockup provisions lifted, investors […]
At 28, Hyliion founder and CEO Thomas Healy is planning 15,000 global sales of his hybrid-electric powertrain systems for Class 8 trucks by 2024. A serial entrepreneur, Healy spoke with FreightWaves about his third startup — expected to go public before summer ends.
Diesel-electric hybrid truck components maker Hyliion expects to be publicly traded around the end of the third quarter in a reverse merger like one that catapulted electric Class 8 truck startup Nikola Corp. to a $23 billion valuation.
Nikola executive Elizabeth Fretheim’s journey to a company developing zero-emissions trucks had an unlikely start in Canada’s oilpatch.
