Nikola Corporation (Nasdaq: NKLA), a leader in zero-emissions transportation and energy infrastructure, announced its financial results and key business updates for the second quarter of 2024, exceeding market expectations.
Hydrogen Fuel Cell Electric Truck Milestones
Nikola delivered 72 hydrogen fuel cell electric vehicles (FCEVs) in Q2, surpassing the high end of its guidance. This brings the total to 147 FCEVs delivered in the first three quarters of serial production. President and CEO Steve Girsky highlighted the company’s commitment to transforming Class 8 trucking into a zero-emission industry. Girsky stated, “Nikola is the only OEM with commercially available Class 8 FCEVs in North America, demonstrating our leadership in zero-emission trucking.”
Nikola’s FCEVs are currently in use across various fleet operations, including Walmart Canada, which became the first major Canadian retailer to integrate a hydrogen fuel cell electric semi-truck into its fleet. The company has also secured repeat orders from two national accounts, contributing to the growing adoption of zero-emission vehicles in North America.
Nikola’s FCEV fleet has logged over 550,000 miles, with an average fuel economy of 7.2 miles per kilogram of hydrogen, outperforming conventional Class 8 trucks. The estimated diesel equivalent for Nikola’s FCEVs is 8.0 mpg, 23% better than the Department of Energy’s Class 8 average of 6.5 mpg. In total, Nikola’s FCEVs have consumed over 77 metric tons of hydrogen, avoiding approximately 867 metric tons of CO2 emissions.
Expansion of HYLA Energy Infrastructure
Nikola’s HYLA energy division continues to expand its hydrogen fueling infrastructure to support the growing fleet of FCEVs. In Q2, the company launched a new HYLA-branded station in Toronto, Ontario, and completed the commissioning of a modular station in Santa Fe Springs, California. Nikola also doubled the capacity of its Ontario, California station by adding another modular refueler.
Nikola’s refueling stations operate 24/7 to meet the demands of fleet customers, with the Ontario station setting a record by refueling 28 FCEVs in one day, dispensing over 850 kg of hydrogen. Collaboration with Shell has further supported Nikola’s fleet customers, enabling them to refuel at Shell’s heavy-duty station in Ontario, California.
Nikola Corporation’s strong performance in Q2 2024 reflects its strategic focus on delivering innovative, zero-emission transportation solutions and expanding the necessary infrastructure to support the future of sustainable logistics.
Source: prnewswire.com
