Nikola grew its top line revenue 318% in the second quarter, generating $31.3 million (all figures US), while wholesaling 72 hydrogen fuel-cell-electric trucks in the quarter, exceeding its own guidance.
That marked an 80% increase in wholesaled trucks from the first quarter. Meanwhile, it continues to return its recalled battery-electric trucks to customers and is on pace to complete that process by the end of the year.
(Photo: Nikola)
“In the last three quarters of serial production, we have demonstrated that Nikola is the offtake. We are the catalyst to disrupt Class 8 trucking to make zero-emission a reality,” Steve Girsky, president and CEO of Nikola, said in a release.
“We are the only OEM with Class 8 FCEVs commercially available in North America today. Our trucks are put to the test every day by end fleet users, hauling freight and delivering to their customers. Q2 is an example of how we’re approaching the intersection of mission and reality and how Nikola is out front, charting the course.”
Nikola has now wholesaled 147 fuel cell trucks since it entered serial production three quarters ago. Walmart Canada got recognized in its earnings release for being the first major retailer in Canada to put a hydrogen fuel-cell-electric truck into its fleet.
The company says its FCEV trucks have now accumulated more than 550,000 miles with an average fuel economy of 7.2 miles/kg, which Nikola calculates to be about 8 mpg in diesel equivalent.
Despite the positive progress, Nikola lost $134 million in the second quarter, trimmed from the $218 million it lost in Q2 2023.
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