22 Facts About Nikola Corporation


Nikola Corporation is an American manufacturer of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions.

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Nikola Corporation delivered its first two battery-electric trucks in December 2021.

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Publicly traded shares in Nikola Corporation dropped to around after falling from over $65 in mid-2020, when its market valuation had exceeded that of the Ford Motor Company.

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Nikola Corporation was founded by Trevor Milton in 2014 in Salt Lake City, Utah.

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In March 2019, Nikola Corporation acquired a 389-acre parcel of land in Coolidge, Arizona, for $23 million, with future state and local tax breaks.

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In March 2020, Nikola Corporation announced its plans to merge with VectoIQ Acquisition Corporation, a publicly traded special purpose acquisition company run by former General Motors vice-chairman Steve Girsky.

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Nikola Corporation's stock began trading on June 4,2020, a day after the merger was completed.

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On September 10,2020, short seller firm Hindenburg Research released a report accusing Nikola Corporation of being "an intricate fraud" perpetrated largely by Milton.

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Nikola Corporation called these claims "false and misleading" and threatened legal action against Hindenburg.

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Previously, Milton had alleged that those who were short-selling Nikola Corporation stocks are fans of rival company Tesla and are "anti-Nikola Corporation or paid attack accounts".

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Nikola Corporation had planned to announce the BP partnership days after the GM partnership.

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In December 2020, Republic Services stated that their previously announced partnership with Nikola Corporation would be terminated due to the corporate restructuring at Nikola Corporation.

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In June 2021, Nikola Corporation invested $50 million in a new hydrogen factory headed by Wabash Valley Resources to produce fuel for semi-truck fuel stations across the Midwest.

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Nikola Corporation has publicly announced a number of vehicle design concepts since 2016 and unveiled a few concept vehicles that the company aims to develop for public sale.

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In May 2018, Anheuser-Busch placed a provisional purchase order for up to 800 leases of the hydrogen-powered truck versions, and Nikola Corporation claimed then that the trucks would start being delivered in 2020.

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Nikola Corporation Two is a semi-tractor truck concept designed to be technically identical to the Nikola Corporation One.

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Nikola Corporation said the Tre concept was to have 500 to 1,000 horsepower and a range of 310 to 750 miles.

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In 2016, a prototype concept, the Nikola Corporation NZT was unveiled as a utility task vehicle with a 72 or 107 kWh battery.

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In 2017 Nikola Corporation took a journalist for a ride-along in a prototype of the car in a Utah desert to demonstrate the vehicle's capabilities.

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Nikola Corporation says it offered rides in this vehicle to the attendees during the event, and published a video claiming to show it.

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Nikola Corporation Reckless was a concept vehicle that was projected to be a military grade fully-electric tactical off-highway vehicle.

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Nikola Corporation planned two variants, the first powered by a combination of hydrogen fuel cells and batteries and second all-electric, without fuel cells.

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