Nikola Leads North American Market with Hydrogen and Electric Trucks
Key Ideas
  • Nikola claims dominance in the North American heavy-duty fuel cell electric vehicle market with over 90% share, based on recent data.
  • The company shipped 203 trucks in the first three quarters of 2024, showing significant growth from the previous year.
  • DHL Supply Chain and Diageo North America are integrating Nikola's hydrogen fuel cell electric trucks into their fleets to reduce carbon emissions.
  • Despite a recall in 2023, Nikola has made progress with upgrades to their electric trucks and continues to expand its market presence.
Nikola, the company focused on electric and hydrogen-powered trucks, declared its leadership in the North American market during a Q3 earnings call. President and CEO Steve Girsky highlighted their 90% market share and the shipment of 203 trucks in the first three quarters of 2024. DHL Supply Chain and Diageo North America are among the companies incorporating Nikola's hydrogen trucks into their fleets to achieve zero emissions targets by 2030 and 2050, respectively. The new hydrogen-powered trucks are expected to reduce carbon emissions by 80% compared to diesel trucks. These vehicles can travel up to 500 miles on a single charge and are set to operate in Illinois. Nikola's progress follows a recall in 2023 that led to temporary production halts but also brought upgrades to their electric trucks. Girsky emphasized the company's commitment to zero-emission technologies and building a coalition of companies with similar goals.
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