Nikola plans to establish a hydrogen production hub in Phoenix, Arizona
Nikola plans Q3 FID for Phoenix hub despite continued losses
Truck manufacturer sets full-year margin guidance of between -75 and -95pc
Hydrogen and battery-electric truck manufacturer Nikola plans to take FID on its Phoenix Hydrogen Hub in Q3 this year, pending a Department of Energy loan and regulatory approval. However, the firm still anticipates continued losses going into 2023, setting full-year guidance for margins of between -75 and -95pc. Fuel-cell electric vehicle (FCEV) truck deliveries throughout the year are expected to range from a low case of 125 to a high case of 150. The firm expects to realise cost reductions from the acquisition of battery supplier Romeo Power—bringing battery-pack manufacturing in-house—as the year progresses. Partnerships Nikola recently signed a memorandum of understanding with Australia
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
15 November 2024
Danish electrolyser firm stays focused on US expansion plans amid policy uncertainty in wake of Republican election victory
