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Prime Mover Magazine

Nikola raises $289 million ahead of Australian expansion plans

Hydrogen electric truck manufacturer, Nikola, reports it has raised another $US210 million following the announcement of its new Nikola Tre.

The European style cabover commercial vehicle has attracted $US380 million in pre-orders ahead of its European launch in April, 2019.

It now boasts $US12 billion pre-orders worldwide as it works towards its ambitious plan to have hydrogen coverage in the US, Canada, Europe and Australia by 2028.

Each hydrogen station is expected to produce up to eight tonnes of fuel daily with room to expand to 32 tonnes per day.

Energy company Nel ASA will provide engineering, electrolysis and fuelling equipment.

Nikola anticipates each of its truck will consume around 50-75 kilograms of hydrogen per day.

The company whose objective is to produce hydrogen through zero emission methods, will allow all hydrogen vehicles to fill at its stations.

When the Nikola Tre arrives in Europe, according to Trevor Milton, Nikola CEO, diesel will finally be on its way out.

“Now that we are funded and oversubscribed, we are kicking it into high gear and preparing for Nikola World 2019,” he said.

“At Nikola World, you will see the USA Nikola Two prototype in action and be able to step foot in our European Nikola Tre.”

“We also have a few surprises for the show from our powersports division and other new product announcements.”

Nikola’s European stations are earmarked to come online by 2022.

The company confirmed its objective is to provide coverage for most of the European market by 2030.

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