CNHI

Flatbed hauler PGT Trucking intends to lease 100 Nikola fuel cell trucks

Electric truck maker Nikola Corp. has a letter of intent for 100 fuel cell electric trucks from flatbed hauler PGT Trucking, converting a piece of its 14,000-unit reservation book for hydrogen-powered FCETs that has Anheuser-Busch at the front of the line.

Deliveries of fuel cell-equipped Tre daycabs capable of up to 500 miles of range are scheduled to begin in 2023. Early builds are underway at Nikola’s new plant in Coolidge, Arizona. The first two trucks will be road-tested by Anheuser-Busch,...

https://www.freightwaves.com/news/flatbed-hauler-pgt-trucking-intends-to-lease-100-nikola-fuel-cell-trucks

Plus will equip IVECO trucks with autonomous driving software

Self-driving truck technology developer Plus will work with Europe’s IVECO to install autonomous software in trucks in China, Europe and elsewhere.

Because of existing partnerships, startup electric truck maker Nikola Corp. (NASDAQ: NKLA) could eventually find itself involved as an add-on to the understanding between Plus and United Kingdom-based CNH Industrial N.V. (NYSE: CNHI). But not right away. And maybe not at all.

IVECO is Nikola’s joint venture partner. The two use IVECO’s S-WAY...

https://s29755.pcdn.co/news/plus-will-equip-iveco-trucks-with-autonomous-driving-software

No partners, no problem: Nikola may do hydrogen stations solo

Now that it can buy cheap electricity to make hydrogen in Arizona, Nikola Corp. (NASDAQ: NKLA) no longer needs fueling station partners who balked after the startup’s months of distractions and ongoing federal probes into fraudulent claims.

“Things are changing,” Nikola CEO Mark Russell told FreightWaves in a recent interview. “We were working with various potential station partners for some time last year. And that’s why we thought there was a good chance that we would have one of those...

https://s29755.pcdn.co/news/no-partners-no-problem:-nikola-may-do-hydrogen-stations-solo

Republic Services cancels refuse truck order from Nikola

Republic Services (NYSE: RSG) has canceled an order for 2,500 battery-electric refuse trucks from Nikola Corp. (NASDAQ: NKLA), raising new questions about the electric truck startup’s ability to generate revenue to keep its business plans alive.

Development of the trucks based on the Nikola Tre would take too long to develop and cost more than expected, Nikola said in a press statement Wednesday.

The goal of the collaboration with Republic was to design and build an industry-first fully...

https://s29755.pcdn.co/news/republic-services-cancels-refuse-truck-order-from-nikola

Trevor Milton can dump his Nikola stock on Monday — will he?

Nikola Motor Corp. (NASDAQ: NKLA) founder Trevor Milton no longer makes decisions for the startup electric truck maker. But he still wields significant influence. On Monday, he can sell his 91.6 million shares, about a quarter of all outstanding shares. What will he do?

Milton isn’t saying.

If he sells a large portion or all of his shares, the price of the already volatile stock likely would fall. A sudden glut could overwhelm the number of prospective buyers. 

“I can’t comment for Trevor,” Nikola...

https://s29755.pcdn.co/news/trevor-milton-can-dump-nikola-his-stock-on-monday-will-he

Lordstown Motors SPAC vote set amid unique business risks

Shareholders of a blank check company vote Oct. 22 on completing a reverse merger that would provide startup Lordstown Motors Corp. (LMC) twice as much money as it needs to retool a former General Motors plant to build a commercial fleet-focused electric pickup truck.

Diamond Peak Holdings Corp. (NASDAQ: DPHC) raised $780 million in an initial public offering (IPO) and through the sale of discounted shares. The full amount will transfer to LMC if the vote passes as expected. 

Since the proposed...

https://s29755.pcdn.co/news/lordstown-motors-spac-vote-set-amid-business-risks