Published July 13, 2022
PHOENIX. July 13, 2022 — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, displayed their zero-emissions Class 8 battery-electric vehicle (BEV) and fuel cell electric vehicle (FCEV) today in Washington D.C. Together, with key federal government representatives, industry organizations and strategic stakeholder partners, Nikola provided visibility to the importance of congressional efforts in advancing clean energy and climate incentives that will enable market growth of zero-emissions technologies and a national clean hydrogen economy.
Today’s event featured several speakers in support of furthering clean transportation and energy, including Representative Greg Stanton (AZ-District 9); Antoine Thompson, Executive Director, Greater Washington Clean Cities Coalition; Jessica Olson, Vice President of Policy, CALSTART; Connor Dolan, Vice President of External Affairs, Fuel Cell Hydrogen Energy Association (FCHEA) and Shannon Angielski, President of the Clean Hydrogen Future Coalition (CHFC). Arizona Senator Mark Kelly also took a drive in the Nikola Tre FCEV in the afternoon.
“Nikola plans to build a complete hydrogen ecosystem of production, distribution and dispensing and site-specific use case consultation on BEV charging solutions that will support zero-emissions commercial vehicles across the country,” said Pablo Koziner, President of Nikola Energy. “Decarbonizing heavy-duty trucking and port operations is likely to be achieved more quickly by our fleet customers with the leadership and support of our federal representatives in Washington who can work with us to grow this new industry.”
“I’m grateful that leaders here in Washington have the opportunity to see first-hand the work a great Arizona company, Nikola, is doing to address the challenges of climate change--and see how cutting greenhouse gas emissions can also create great jobs. Thanks to the Bipartisan Infrastructure Law and our work to make clean vehicles more competitive, this great technology will soon be on roadways nationwide,” said Rep. Greg Stanton of Arizona.
“Today’s event reminds us that the transition to clean transportation is not mainly a technology challenge - that the solutions are here today. What we need now are strong market signals from the government that zero-emission technologies will have the support they need to scale and compete with older, dirtier technologies,” said Jessica Olson, Vice President of Policy, CALSTART.
Nikola’s Tre BEV qualifies for both the California and New York Voucher Incentive Programs. These programs provide vouchers, or discounts, to fleets that purchase or lease medium- and heavy-duty zero-emissions BEVs. With this approval, purchasers of the Nikola Tre BEV qualify for an incentive valued at up to $150,000 in California and up to $185,000 per truck in New York, with a scrappage requirement.
The Nikola Tre BEV’s range is up to 350 miles, one of the longest of the battery electric zero-emission Class 8 tractors. The Tre’s cabover design is ideal for metro-regional applications because it has improved visibility and maneuverability, along with a smooth and quiet ride free of the smell of diesel emissions.
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 benefits of the NYTVIP or HVIP programs to potential Nikola customers; the ability to build a hydrogen ecosystem with the indented benefits; the benefits of BEV and FCEV trucks in reducing greenhouse gas emissions; the benefits of the leadership and support of federal representatives; the excepted timing of delivery of trucks; and the expected timing, features and specifications of the company’s trucks. 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, the ability of the parties to enter into definitive documentation for the collaboration and the terms of any such agreements; the failure to realize the anticipated benefits of the letter of intent or any definitive agreement; design and manufacturing changes and delays; general economic, financial, legal, supply chain, 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 quarterly report on Form 10-Q for the quarter ended March 31, 2022 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.
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