In ten years, Nikola Motor Company wants more than 700 hydrogen fueling stations across the United States and Canada. The company would like to have the first 14 opened by 2021.
It's an exciting time for the company. Nikola is currently working on bringing its zero-emission semi trucks to the market; the powersports division is working on making an autonomous UTV; the company sued Tesla for $2 billion for stealing patents; and it moved to Arizona to build a 150,000 square foot headquarters as well as a one-million-square-foot manufacturing facility.
In the first seven days of August, Nikola raised 100 million dollars in funding. According to CEO Trevor Milton, the company's $200 million C round of funding will be oversubscribed. Too many investors? Must be rough.
Nikola is working on hydrogen-electric trucks that will have a range between 500 and 1,200 miles. They'll also be able to refuel in 20 minutes. Some trucks should be ready to roll by 2020, with full production set for 2021.
As of January 2018, the company had 8,000 trucks on preorder, and it now claims to have nearly $11 billion on the books.
According to Milton, one of Nikola’s large orders came from Anheuser-Busch, which is on the hook for 800 trucks.
Not a bad year, Nikola. Not a bad year at all.