It was a productive Q1 for Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, as the company produced 43 and wholesaled 40 Class 8 Nikola hydrogen fuel cell electric vehicles. In addition, the Nikola team has commenced the return process for the BEV “2.0” trucks to customers.
“We are on track for a successful 2024 by continuing the momentum set in 2023,” said Nikola CEO Steve Girsky. “It’s about more than just setting goals. It’s about following through on our commitments. This includes not only the production and sale of our hydrogen fuel cell electric trucks but also the start of returns for our battery-electric trucks to customers.”
All trucks wholesaled to Nikola dealers are destined for end customers. The three remaining hydrogen fuel cell electric trucks in finished goods inventory at the end of the quarter have already been allocated and will be delivered in early April.
“We anticipate further sales growth in future quarters as our HYLA hydrogen fueling solutions come online. This includes our recently celebrated first modular refueling station in Ontario, Calif., as well as our first Canadian refueling station in Edmonton, Alberta,” continued Girsky. “It’s rewarding for our team to see us out on the field, leading the effort for the decarbonization of the industry.”
The Nikola hydrogen fuel cell and battery-electric vehicles are assembled in Coolidge, Ariz.
NOTE: Nikola has not completed its quarterly review process or the preparation of its financial statements for the first quarter ended March 31, 2024. Nikola will announce information regarding Q1 2024 financial results soon.
