Nikola Executing Strategy and Vision to Deliver Innovative Technology
Nikola Corporation (NASDAQ: NKLA) today issued the following statement highlighting key elements of the Company’s strategy and vision to become a global leader in zero-emissions transportation:
Nikola is a technology disruptor and integrator, working to develop innovative energy and transportation solutions. We are pioneering a business model that will enable corporate customers to integrate next-generation truck technology, hydrogen fueling infrastructure and maintenance. By creating this ecosystem, Nikola and its strategic business partners and suppliers can pave the way as global leaders in zero-emission transportation – and, together, leave the world a better place.
Nikola is an Original Equipment Manufacturer (OEM) whose expertise lies in design, innovation, software and engineering. We assemble, integrate, and commission our vehicles in collaboration with support from business partners and suppliers that bring decades of experience in manufacturing, and that have invested billions of dollars in industrializing and scaling production. Nikola designs and engineers its vehicles and works with business partners and suppliers to manufacture a majority of the vehicle components.
Nikola is an innovator and an integrator. The Nikola model combines our own intellectual property and proprietary technology with that of our strategic business partners and suppliers to design and manufacture innovative energy and transportation solutions.
This innovator/integrator business model is not uncommon in the next-generation technology space. At Nikola, we are laser-focused on pursuing the quickest, least capital-intensive path to market, in combination with our own intellectual property. If our partners have a less expensive, more efficient solution that works with and in our designs, we very intentionally want to go with that. This is in the best interest of our company and our shareholders – and, simply put, is the smart business decision. In line with our strategy, Nikola will continue to partner with world-class companies that will enable us to save billions of dollars and years in development.
We operate in three business units: Truck, Energy and Powersports.
Nikola Tre Battery-Electric Prototypes
Nikola expects the first batch of five prototypes of the Nikola Tre, a 100% battery-electric truck, will be substantially completed at our JV facility in Ulm, Germany in the next few weeks. The Nikola Tre prototypes will be subsequently bench tested as well as road tested in Germany. We remain confident in our ability to begin production of the Tre and make it available to customers starting in the fourth quarter of 2021.
Our joint venture with IVECO for the Nikola Tre illustrates the power of our business partnership and supplier network and go-to-market model. Nikola has engineered, in conjunction with its business partners and suppliers, the electrification elements of the Nikola Tre. During this process,
Nikola engineers have taken the lead on the Human Machine Interface, infotainment, battery pack engineering and integration into the e-propulsion architecture, vehicle thermal management, and the e-axles. The vehicle controls architecture has been developed solely by Nikola. For the balance of the Tre BEV, Nikola leverages validated and homologated IVECO components to drive cost efficiencies.
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