The age of electric cars is here, and so far, Tesla is the company that has completely taken over the market. Elon Musk has recognized the need for eco-friendly transportation in time, and his company made a massive revolution in the market. Today, most car manufacturers are making a push towards electric vehicles, hoping to steal a small part of the market.
Well, Tesla is not the only big name in the eco-friendly vehicle market. Nikola is a new company that makes trucks that run on hydrogen fuel and batteries. It bears the name of Nikola Tesla, the inventor of electricity, and it looks like it's here to stay. Let's see what this company is all about.
Nikola Corporation - The Hot New Electric Truck Manufacturer
Nikola is a new electric truck company that's making a massive impact on the market. The company went public in June of 2020, after merging with a public shell company called VectolQ. The merging led to a massive increase in shares of 120%, but the stocks keep going up daily.
The company is based in Arizona, and it was created as a startup. It managed to raise more than 1.3 billion dollars needed to build a manufacturing facility for modern electric trucks and semis. Nikola employs 250 people, and it has over 10 billion dollars in preorders.
Companies worldwide want to get commercial electric trucks, and Nikola will start delivering orders by 2021. It's clear that there's a huge demand for eco-friendly vehicles, and the market needs another manufacturer that specializes in that field other than Elon Musk's Tesla.
Unlike Tesla, Nikola wants to become the biggest producer of zero-emission big rigs that run on hydrogen fuel cells. Most other companies, including Tesla, Daimer, and others, make all-electric trucks.
The idea of transporting goods in zero-emission trucks seems appealing for many companies due to pollution concerns. Transport trucks are one of the biggest polluters, but soon, they won't impact the environment.
Nikola's Revolutionary Trucks
Nikola is currently working on three different trucks. Two of them are designed for mass production for the European and US markets. However, the company also came up with battery-powered versions with a smaller range, making it perfect for local distributors.
Some enthusiasts and inventors have already made hydrogen-powered vehicles, but they never saw mass production before. That's because none of the existing car and truck manufacturers have the equipment to mass produce this type of vehicle.
However, Nikola has been raising money for the past five years, looking to change that forever. Can you imagine the impact this will have on the way we think about big rigs and transportation in general?
Making trucks and cars that run on hydrogen is one thing, but we also need the right infrastructure to cover significant distances. A few years ago, the huge demand for electric vehicles had made governments around the world spend money on electric vehicle charging stations.
In contrast, hydrogen filling stations are tough to find. There are no major investments in this industry, but that will change according to Nikola.
The company stands firmly behind its claims that hydrogen power has an extensive commercial application. Most truckers take the same routes when they are on the road, so it's not that hard to pinpoint locations where they cross paths. Nikola wants to install refilling stations in those places, allowing hydrogen-powered vehicles to refill on time.
The company claims that hydrogen-powered big rigs are a much better solution than electric trucks for a few reasons. First, the refill times are much shorter than with electric trucks. Second, electric big rigs need massive batteries to cover a bigger distance, especially when the trailers are full.
All of that creates extra weight, making it harder for the trucks to be as efficient as possible. Nikola's approach fixes all of these things, making their trucks much more efficient and easier to produce.
Imagine what that will do for services like www.rideshare.com. Soon, we will be able to catch a ride across the country in super-efficient hydrogen-powered trucks, making the entire trip much cheaper than ever.
Talking Numbers
Nikola trucks are very sought after, and, as we already mentioned, the company has over 10 billion dollars in orders. That's a lot of trucks. So many people are wondering how exactly they plan to build a production line and deliver trucks by 2021. Again, Nicola's unique approach has the answer.
The company already signed contracts with other huge brands like Bosch and Iveco. Both companies will help in the production of these trucks. Bosch will help with parts design, while Iveco will help create those parts in their factories in Europe.
Nikola promised to deliver 600 vehicles by the end of 2021, doubling that number every following year. Forecasts say that the company is expected to make $3.2 billion in revenue in 2024 alone. They will have to produce 7,000 battery-powered trucks and 5,000 hydrogen trucks to meet that number.
Transportation Transformation
The impact these trucks will have on the way we see transportation is still hard to imagine. Not only will these trucks help reduce pollution, but they will also make transportation more affordable.
For example, that will lead to new offers in the Rideshare estimator, that will have to tune in the prices with the new fuel. Nikola's new pickup truck called the Badger will have a range of 600 miles on a full tank. Six hundred miles! The impact of this new technology on transportation and rideshare delivery fees is still yet to be seen, but it's undoubtedly going to make a difference.
Looking Forward to Eco-Friendly Transportation
Everyone knows that transportation is the lifeline of the US. The economy will survive anything as long as the trucks keep trucking. These new trucks will redefine everything about transportation, changing the way we think about trucks. Not only will they stop polluting the environment, but they will also make transportation faster and cheaper at the same time. Nikola's trucks are the way of the future.
