Nikola delivered 48 electric trucks over Q2
The American electric truck builder Nikola Motor built 50 units of the Tre BEV truck in the second quarter and delivered 48 of them to its dealers. The production rate is to be increased significantly by the end of the year. However, series production of the Nikola Tre BEV only started at the end of March, i.e. at the end of the first quarter.
The company is therefore still in the very early stages of series production, which somewhat classifies the current production figures from the quarterly report. According to the annual report, Nikola is sticking to its target of producing a total of 300 to 500 units of the Tre BEV by the end of 2022. The company aims to increase output at Coolidge to five units per shift by November to achieve this.
The second phase of expansion at the plant is underway and is expected to be completed by the first quarter of 2023. Nikola also began building the first beta versions of the Tre FCEV at Coolidge. Nikola also built the first alpha versions of the Tre BEV for the European market in the second quarter as part of its joint venture with Iveco, and plans to start series production in the second half of 2023.
The joint venture has also built the first beta versions of the Tre FCEV for Europe, which is expected to enter production in the first half of 2024. A few days ago, Nikola had entered into an agreement to acquire US battery maker Romeo Power. The sales figures from the quarterly report itself are not very meaningful at the moment.
The 48 trucks delivered and four units of a cargo trailer generated revenues of 18.1 million US dollars. The two Tre BEVs already produced in Q2 were only delivered in the first week of July and are thus counted in the Q3 results. GAAP net loss per share in Q2 was £0.41 and non-GAAP net loss per share was £0.25.