Nikola plans Q3 FID for Phoenix hub despite continued losses
Truck manufacturer sets full-year margin guidance of between -75 and -95pc
Hydrogen and battery-electric truck manufacturer Nikola plans to take FID on its Phoenix Hydrogen Hub in Q3 this year, pending a Department of Energy loan and regulatory approval. However, the firm still anticipates continued losses going into 2023, setting full-year guidance for margins of between -75 and -95pc. Fuel-cell electric vehicle (FCEV) truck deliveries throughout the year are expected to range from a low case of 125 to a high case of 150. The firm expects to realise cost reductions from the acquisition of battery supplier Romeo Power—bringing battery-pack manufacturing in-house—as the year progresses. Partnerships Nikola recently signed a memorandum of understanding with Australia
Also in this section
19 April 2024
UAE renewables developer weighs opportunities to join green hydrogen projects in US and Canada, Andreas Bieringer, director of green hydrogen business development and commercial, tells Hydrogen Economist
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter
16 April 2024
European Commission to provide list of approved certifiers in a move that is expected to help unlock investment in the sector
9 April 2024
Higher country-level risk and green hydrogen project execution risks are driving up financing costs, according to the Hydrogen Council and McKinsey