The focus on the stock price gyrations of electric truck startup Nikola Corporation (NASDAQ: NKLA) overlooks a major part of its business plan-making and selling hydrogen fuel for its fuel cell trucks and anyone who wants it.
“Hydrogen is a key to everything with Nikola,” says Executive Chairman Trevor Milton. “It’s our ability to separate ourselves from our competitors. “Nikola is not just a truck company. We’re really an energy technology company.
“We’ve spent more time on reducing the cost of hydrogen than we’ve spent on anything else, including building the trucks. The trucks are just a product to consume energy, and also a product to clean up the world.”
The story surrounding Nikola’s zero-emission Class 8 fuel cell trucks is a bit confusing because the company will build a heavy-duty battery-electric cabover model before it makes more aerodynamic conventional trucks that run on hydrogen.
Production of the Nikola Tre