Published July 15, 2021
PHOENIX – July 15, 2021 — Nikola Corporation (NASDAQ: NKLA), a leading designer and manufacturer of heavy-duty commercial battery-electric vehicles (BEV), fuel-cell electric vehicles (FCEV) and energy infrastructure solutions, announced today a second phase in establishing a nationwide plan for its Class 8 truck sales and service coverage with the addition of five independent dealers with more than 51 locations in Texas, Arizona, California, Colorado, New Mexico, Florida, Delaware, Virginia and Maryland.
The five independent dealership additions to the Nikola dealer network average more than 80 years of providing strong sales and service support to customers. The Nikola dealer network expansion includes HOLT Truck Centers (7 locations in Texas), Empire Truck & Trailer (7 locations in Arizona and California), Wagner Equipment Co. (11 locations in Colorado, New Mexico), Ring Power (14 locations in Florida), and Carter Machinery (12 locations in Delaware, Maryland, Virginia).
In April, Nikola announced a partnership with RIG360 Service Network, a network of heavy-duty truck service and maintenance centers, to provide sales and service products for commercial customers at more than 65 RIG360 dealer locations throughout the Southeast, Midwest and Northeast regions of the United States.
Today’s announcement is anticipated to bring the number of Nikola sales and service locations up to 116 across the United States as it rapidly continues to fulfill its commitment to the expansion of the distribution network.
“These five new partners are expected to add a culture of customer focus and service leadership that we are building at Nikola. Customers will benefit from the strength and experience of these companies and their highly talented organizations,” said Nikola Energy and Commercial President Pablo Koziner. “These dealers will work closely with customers in helping them maximize operational efficiencies, energy management, vehicle uptime and overall industry adoption in BEV and FCEV vehicles.”
ABOUT NIKOLA CORPORATION
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.
FORWARD LOOKING STATEMENTS
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the potential benefits of the strategic partnerships, including the ability to provide customers with market leading sales and service while maximizing operational efficiencies, energy management and vehicle uptime; the company’s expectations regarding its business, business model and strategy; the company’s expectations for its trucks and market acceptance of electric trucks, both BEV and FCEV; and market opportunity. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nikola’s management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to, design and manufacturing changes and delays; failure to realize the anticipated benefits of the definitive agreements; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; the outcome of legal, regulatory and judicial proceedings to which Nikola is, or may become a party; demand for and customer acceptance of Nikola’s trucks; risks associated with development and testing of fuel cell power modules and hydrogen storage systems; risks related to the rollout of Nikola’s business and the timing of expected business milestones; the effects of competition on Nikola’s future business; the availability of capital; risks associated with changes in accounting treatment or accounting standards; and the other risks detailed from time to time in Nikola’s reports filed with the Securities and Exchange Commission, including its annual report on Form 10-Q for the quarter ended March 31, 2021 and other documents Nikola files with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and Nikola specifically disclaims any obligation to update these forward-looking statements.