Nikola Corp.'s (NKLA) stock drops with lowered truck production expectations - Phoenix Business Journal

In its report, Nikola reiterated its plans to work with partners to build a large-scale hydrogen supply and dispensing infrastructure. The company said it is still negotiating opportunities, but it has already announced three hydrogen dispensing stations in California, and it is collaborating with the company E.ON to establish hydrogen infrastructure in Europe.

At the Coolidge plant, Nikola said it is on track to finish its Phase 2 assembly expansion by the end of the first quarter of 2023. Right now the company said it is currently producing three trucks on one shift with the capacity to boost that to five. Once Phase 2 is finished, capacity will be up to 20,000 units per year and the company will be able to produce both BEV trucks and fuel-cell trucks on the same line, along with its fuel cell power module.

Currently the fuel-cell trucks are beta stage, with six beta trucks built and 17 expected by year’s end. The company began pilot testing with Walmart. Although Nikola said in its earnings report that it was seeing more consumer hesitancy, the automaker did announce earlier this week that it had signed a purchase order for 100 BEV trucks with Zeem Solutions, a “fleet-as-a-service” provider based in Inglewood, California, that said it is focused on helping commercial fleets transition to battery vehicles by bundling electric vehicles, charging options, maintenance and other services into a flat operating expense.

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