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The press conference in February 2024 on the fourth quarter results and the entire year 2023 and, above all, the outlook for the current fiscal year support my very optimistic assessment of this start-up. Of the 42 built Tre FCEVs, 35 were delivered in the fourth quarter. Seven are currently being...
Short sellers are working massively against the company at the stock exchange. There were shortly even nearly 200 million shares sold short (on Nov. 16 still 193 million). But now, a price change upwards seems very likely. The reason could lie in the comments made at the press conference on the...
That happened fast: From 0.60 USD to over 3.70 USD in a few weeks and then the bounce back under 1.50 USD – triggered by the abrupt departure of Michael Lohscheller as CEO and president. The outlook, though, cannot be better, even if not everything is following a straight line – certainly the case...
Iveco is exiting the joint venture it set up with Nikola in Europe. Prior to this was a partnership since 2019 that led to the development of the battery-electric Tre BEV and the hydrogen-powered Tre FCEV. Iveco is taking over 100 percent of the European business of Nikola, and is paying for it with...
On January 25th of this year, the Analyst Day took place at company headquarters in Phoenix and was – as I saw it – a big success for Nikola. Via streaming, I was able to get an impression of how more than 300 representatives from shipping companies, suppliers and energy companies as well as from...
Nikola has lowered its targets for year 2022: Instead of 300 to 500 battery-electric trucks in 2022, it will now be 120 to 170 units in the fourth quarter, so the total number will be well under 300. The reason: Nikola wants to slow down production in order to get a better grasp on the cost...
Nikola Motors is on the right track. Various test trials of the Tre BEV battery-electric models are running successfully with customers like TTSI, Tiyaji Brothers (for Anheuser-Busch), Univar, Road One (for IKEA) and Covenant (for Walmart). So far, everything with 94 percent manufacturing capacity...
Former Opel CEO Michael Lohscheller has changed companies and moved to Nikola. At the end of February 2022, the US commercial vehicle manufacturer announced that Lohscheller had been appointed president of the company. So after just four months as managing director of Vietnamese automaker VinFast, he resigned from this office. Prior to that, he had spent four years running Opel Automobile GmbH.
Regardless of the many good news and developments around hydrogen, there must of course also be a critical consideration of the aspects that may, for example, hinder or delay rapid build-up of production capacity.
Hyzon Motors was able to close the first quarter with a low stated loss of minus 0.03 USD per share. At the end of the quarter, cash and cash equivalents amounted to about 407 million USD.
The expansion of the company is proceeding according to plan. Prototypes will be delivered so that customers can familiarize themselves with the vehicles (battery-electric and hydrogen-powered). The first successes can be reported: ten MCTs (Mobile Charging Trailers) have already been delivered (1.9 million USD in sales), which can fully charge battery-electric trucks in a hundred minutes.
Nikola Motors needs to be understood/categorized as a start-up in the process of implementing its business plan. The construction of its factory in Coolidge, Arizona is underway, and the first battery-electric trucks (BEV trucks) are already with customers. This year should see 300 to 500 of these, along with sufficient capacity for 2,400, which should reach 20,000 by 2023. In Ulm, Baden-Württemberg, the number of units produced by partner Iveco is to increase from 2,000 to 10,000.
At first glance, the news seems to be negative. Nikola Motor has already stated it will settle with the US stock exchange regulatory agency, the SEC, for USD 125 million regarding the misdemeanors of its founder and former CEO, Trevor Milton. On the other hand, however, Nikola plans to claw back this money since Milton probably still owns at least a 10 percent stake in Nikola although he is likely to have sold some of his shares and transferred them to relatives. Nikola cannot simply seize these shares but perhaps it will freeze them until an agreement has been reached.
Hyzon Motors, a manufacturer of hydrogen-powered commercial vehicles founded in Singapore (IPO via special-purpose acquisition company, SPAC, in New York), saw its the share price crash after a hedge fund named Blue Orca (a short seller?) leveled various accusations, including that an order for 20 Hyzon trucks did not come from the named customer, Hiringa Energy, but from someone completely different. Moreover, it also prompted questions about an agreement (memorandum of understanding) concerning 400 trucks for a Chinese customer. Law firms simultaneously added a string of class action lawsuits whose aim and purpose is unclear to me, though. Did someone want to initiate a lower IPO price or make stock prices tumble by short selling?
