Nikola Corporation (NKLA) continues to defy the odds, proving its ability to fully recover following founder Trevor Milton's downfall and subsequent fraud conviction in federal court in late 2023.
[Related: Nikola founder sentenced to prison for fraud]
The Phoenix, Arizona-based company has just announced it wholesaled 88 Class 8 hydrogen fuel cell trucks in Q3. This figure meets previously set expectations of between 80 to 100 units for the quarter.
So far this year, Nikola wholesaled 200 hydrogen fuel cell (FCEV) trucks and a total of 235 since the vehicle hit the market in Q4 of last year. Last summer, the OEM reported its hydrogen truck sales exceeded Q2 expectations.
[Related: Nikola's hydrogen fuel cell trucks surpass Q2 sales expectations]
“This is a record sales quarter for Nikola, with 88 hydrogen fuel cell electric trucks wholesaled to our dealers for end customers, as well as the addition of a first-ever U.S. dealer-based HYLA modular refueling station,” said Nikola CEO Steve Girsky. “Despite overall market headwinds, Nikola remains focused on our mission to pioneer solutions for a zero-emission world, and we’re doing it one truck at a time.”
[Related: Nikola's CEO and software chief provide exclusive walkthrough of improved BEV 2.0]
Over the past few months, Nikola has continued to expand its customer base with major players such as J.B. Hunt and Walmart Canada adding Tre FCEVs to their respective fleets. In addition, Tom's Truck Center recently opened a new HYLA modular hydrogen refueling center in Santa Fe Springs, California as part of its effort to support its growing fleet of Tre FCEVs.
Hydrogen-powered semis, especially Class 8s, are a particularly attractive alternative to battery-powered semis due to greater range capabilities. However, the price of the hydrogen fuel itself continues to be out of reach for a majority of fleets, especially smaller ones. Several diesel semi operators have told Clean Trucking they are excited about hydrogen as an eventual diesel replacement but remain concerned about the entry price, even with government subsidies.
