Nikola (NKLA) kills deal to make electric garbage trucks because it’s too hard?

0
42


Nikola (NKLA) announced that the company and a partner had canceled a deal to make electric garbage trucks and the reason they gave was basically that it’s too difficult.
Earlier this year, Nikola, which is best known for its hydrogen-powered electric trucks, and Republic Services, a large US-based waste disposal company, announced that they would work together to “design and build a truck. fully integrated garbage collection, the industry’s first. on a zero-emission battery electric propulsion platform. ”

Today, they announced that they had ended the collaboration.

In a press release, Nikola said it would be too long and expensive to build such a truck:

“After extensive collaboration and review, the two companies determined that the combination of various new technologies and design concepts would result in longer-than-expected development time and unanticipated costs. As a result, the program ends, causing the previously announced vehicle order to be canceled. ”

Several other companies have already worked and delivered electrical waste management trucks.

BYD has a 3.9-ton battery-powered garbage truck capable of driving 100 miles in electric range.

Mack and Volvo have also unveiled electric garbage trucks and Daimler recently announced that it will be bringing one to the market.

As we have reported over the past few months, Nikola is currently in hot water after a report from Hindenburg Research made several allegations revealing the deception of Nikola and its founder Trevor Milton, including several corroborated claims in previous reports from Electrek and Bloomberg.

Nikola responded to these allegations, but as we reported, the response did not contain any rebuttal to the main allegations of deception by the company and its founder, Milton.

Most damning, the claim that she faked the first video of driving her hydrogen truck, the company even admitted without apologizing and instead claimed her deception was correct due to technicality.

Milton ended up leaving the company as the pressure started to build.

Last month, GM canceled the deal to build Nikola’s hydrogen-electric Badger pickup truck and the company ended up refunding deposits to reservation holders.

Taking Electrek

I know Nikola’s stock was down another 10% today after the news broke, but I’m still having a lot of trouble figuring out that the company is worth $ 6 billion.

I mean the excuse they’re giving here for this deal to fail is that it’s too hard to make an electric garbage truck.

It might be too hard for you, but other companies are doing it very well.

If you want my opinion, I wouldn’t be surprised if Republic kills the deal because they didn’t want anything to do with Nikola after being exposed.

Even a company that deals with garbage all the time doesn’t want to do business with Nikola.

FTC: We use automatic income generating affiliate links. Plus.


Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.

LEAVE A REPLY

Please enter your comment!
Please enter your name here