Nikola Corporation Achieves Record Day in Hydrogen Refueling Milestone
Key Ideas
- Nikola Corporation's Ontario station set a new record by refueling 28 trucks and dispensing over 850 kg of hydrogen in a single day.
- The company sold 72 Class 8 hydrogen fuel cell trucks in the second quarter, totaling 112 units for the first half of the year, indicating sales growth.
- Investment trends show shifts in ownership, with SG Americas selling its stake in Nikola while Fidelity's Small Cap Index Fund increased its stake by 16.50%.
- Sustainability partnerships are on the rise, as Wayfair is piloting Nikola's trucks for more sustainable deliveries, and Walmart Canada integrated the first Nikola hydrogen fuel cell electric semi-truck into its fleet.
Nikola Corporation, an electric vehicle startup, achieved a new milestone in hydrogen refueling as its Ontario station recorded a record day by refueling 28 trucks and dispensing over 850 kg of hydrogen. This achievement comes as the company expands its refueling network and ramps up deliveries of its Class 8 hydrogen fuel cell trucks. Nikola has been focused on establishing a network of up to nine refueling solutions by mid-2024, with plans for 14 operational sites by the end of this year. The company's sales growth is evident, with 72 units sold in the second quarter, bringing the total for the first half of the year to 112 units.
Investment shifts are also notable, with SG Americas selling its stake in Nikola while Fidelity's Small Cap Index Fund increased its stake by 16.50%. Additionally, sustainability partnerships are flourishing, as Wayfair is testing Nikola's trucks for more sustainable deliveries, and Walmart Canada became the first retail fleet in North America to operate a hydrogen fuel cell electric truck.
Nikola's Global Head of Supply Chain Management, Pedro Garcia, highlighted the anticipation of additional safety regulations in the industry, emphasizing the need for industry-wide compliance and adaptation. These developments showcase a positive momentum for Nikola Corporation in its hydrogen initiatives and business expansion.