Nikola Motor Company (Plug-In Electric Semi-Trucks) Opens Reservations & Finds $2.3 Billion In Demand

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Originally published on EV Obsession.

You may have not heard of Nikola Motor Company yet, the company only unstealthed itself fairly recently. The company has revealed two semi-trucks to date — the plug-in natural gas–electric hybrid Nikola One and the off-road Nikola Zero UTV.

Following the opening of pre-orders for the Nikola One semi-truck ($1500 a pop, fully refundable) last month, the company has managed to bring in $2.3 billion in preorders so far, according to the company’s CEO, Trevor Milton.

To be clearer here, the company apparently received more than 7,000 pre-orders — which equates to around $10.5 million in reservation funds, and around $2.3 billion in sales if all of the reservations go through.

“Our technology is 10–15 years ahead of any other OEM in fuel efficiencies, MPG and emissions. We are the only OEM to have a near zero emission truck and still outperform diesel trucks running at 80,000 pounds. To have over 7,000 reservations totaling more than 2.3 billion dollars, with five months remaining until our unveiling ceremony, is unprecedented,” stated Milton.

“We believe we will pass the current market leaders like Daimler, PACCAR, Volvo and Navistar in sales orders within the next 12-24 months. Just imagine the orders that will come in once we begin taking dealer applications. We have shown other OEMs and their shareholders why they should be nervous about Nikola Motor Company. Some of the top class 8 dealerships in America have reached out and are willing to either add our brand or move away from their existing brands,” he continued.

Well, we’ll have to wait and see on that count. Certainly an interesting-sounding situation, though….

The company is currently planning to reveal a working prototype of the semi-truck in Utah on December 2, 2016.

Following the earlier completion of a seed round of funding, the company is now working on a $300 million A round, with an expectation of completion by December. More information on the company can be found here.

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James Ayre

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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