Nikola opens manufacturing plant in Arizona

0
93


Take your activity to the next level, Nikola (NASDAQ: NKLA) today inaugurated a $ 600 million manufacturing facility that will be responsible for the production of Class 8 semi-trucks, Nikola Tre and Nikola Two, at the start of operations. The battery and hydrogen electric vehicle maker plans to complete the first phase of construction in late 2021 and the second phase of construction 12 to 18 months thereafter. When operations are fully ramped up, the company estimates the facility’s annual production at 35,000 units.

Expressing his enthusiasm for the progress of the company, Trevor Milton, Founder and Executive Chairman of Nikola, said: “It has been an incredible journey for Nikola Corporation. We started in our basement six years ago and now we are starting this 1 million square foot manufacturing plant. “

Image source: Nikola.

If Nikola’s development from the Arizona manufacturing plant remains on track, the Nikola Tre and Nikola Two won’t roll off the assembly line until 2023, but investors won’t have to wait that long to view vehicles in the hands of customers. Nikola plans to produce the first Nikola Tre vehicles in Germany with its partner IVECO. Management expects production of the vehicles to start in the first quarter of 2021, with deliveries starting later in the year.

News of Nikola’s Arizona breakthrough today follows soon after Tesla (NASDAQ: TSLA) confirmed yesterday during its second quarter 2020 earnings call that it will produce its Semi in the new Gigafactory in Texas. In addition, Tesla has confirmed its intention to achieve volume production of the Semi in 2021.



LEAVE A REPLY

Please enter your comment!
Please enter your name here