Nikola to Sell Hydrogen-Powered Trucks to Plug Power Inc
Key Ideas
  • Nikola Corp will sell up to 75 hydrogen-powered trucks to Plug Power Inc over three years, facilitating the transport of green hydrogen fuel in North America.
  • Plug Power will provide liquid hydrogen tankers and a liquefaction system for Nikola's hydrogen hub project in Buckeye, Arizona.
  • The partnership aims to lower costs through tax incentives provided by the U.S. Inflation Reduction Act and increase deployment of low-carbon hydrogen for Nikola's fuel-cell electric trucks.
  • Nikola plans to build hydrogen-dispensing stations and secure up to 300 metric tons of low-carbon hydrogen supply by 2026.
Nikola Corp announced a strategic deal to sell up to 75 Tre hydrogen-powered trucks to Plug Power Inc over a three-year period. These trucks will be integrated with Plug Power's liquid hydrogen tankers to transport green hydrogen fuel across North America. Plug Power will also support Nikola's hydrogen hub project in Buckeye, Arizona, by providing a liquefaction system. This facility will initially produce 30 metric tons per day of low-carbon hydrogen, which will enable the further deployment of Nikola's Tre fuel-cell electric trucks. Additionally, Plug Power will supply Nikola with 125 metric tons per day of green hydrogen, with the option for Nikola to secure more volumes and source hydrogen fuel from other U.S. locations. By leveraging tax incentives from the U.S. Inflation Reduction Act, Nikola aims to lower costs for its electric trucks and hydrogen energy business. The company plans to establish up to 60 hydrogen-dispensing stations by 2026 and ensure access to 300 metric tons of low-carbon hydrogen supply. This partnership signifies a significant step towards sustainable transportation and the increased adoption of green hydrogen in the commercial vehicle sector.
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