Nikola pivots toward hydrogen for North American market

Although Nikola’s new strategy focuses on fuel cell trucks, the company will still make battery-electric vehicles for special orders.

“The ports in California, they prefer a battery electric truck, and we are happy to continue to produce the battery-electric truck,” Nikola CEO Michael Lohscheller said.

One of the reasons behind the company’s focus on making the hydrogen fuel cell version of its Tre truck is because of its 500-mile range, which garnered great interest at the ACT Expo, he said.

Nikola dealers have ordered 140 fuel cell truck orders, Lohscheller said. The company recently halted production at its Coolidge, Ariz., factory to retool it to produce both battery-electric and fuel cell trucks.

Nikola has delivered 162 battery-electric trucks to customers and made 33 retail sales in the first quarter of this year, Lohscheller told analysts.

The company’s hydrogen energy business will have a nationwide network of up to 50 HYLA refueling stations. Nikola is turning to Voltera, a Herndon, Va.-based energy infrastructure that builds EV charging and hydrogen fueling facilities. Voltera is backed by Pittsburgh energy giant EQT Corp.

Cary Mendes, the president of Nikola’s energy business told analysts the company will be “released from a significant capital burden” with Voltera’s build-out of the stations.