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.

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

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.

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

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.

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

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

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

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".

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

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.

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.

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.

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.

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

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

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

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.

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

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

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