Artist's impression of a Nikola hydrogen fuel cell truck.
Nikola streamlines strategy to compete
Hydrogen truck manufacturer refocuses on core business areas
Nikola has long billed itself as a leading designer and manufacturer of hydrogen-electric semi-trucks. But the Phoenix-based company appears to have been overtaken by rival Hyzon Motors, slipping into a pack with several other truck manufacturers such as Cummins, Hyundai, Toyota, Daimler and Volvo. Nikola has been pressured to streamline its product line in order to compete. The move follows dwindling cash reserves and the company’s share price falling to single digits—after hitting an all-time high of $93.99 in June of last year, briefly giving it a market value greater than US auto giants Ford and Fiat Chrysler—following a barrage of bad press associated with legal issues facing its founde
Also in this section
25 July 2025
Oil major cites strategy reset as it walks away from Australian Renewable Energy Hub, leaving partner InterContinental Energy to lead one of world’s largest green hydrogen projects
23 July 2025
Electrolysis seen as most leakage-prone production pathway as study warns of sharp increase through 2030 and beyond
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
16 July 2025
Major manufacturer cancels rollout of new hydrogen-powered vans and strengthens focus on battery electric and hybrid markets
