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Nikola Hydrogen FCEV Class 8 Truck Named Winner in Sustainable Product of the 2023 Altair Enlighten Award

PHOENIX –August 2, 2023 – Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, has been named the winner of the 11th annual Altair Enlighten Award in the sustainable product category for the company’s hydrogen fuel cell electric Class 8 truck. Presented in association with the Center for Automotive Research (CAR), the Altair Enlighten Award honors the greatest sustainability and lightweighting advancements that successfully reduce carbon footprint, mitigate water and energy consumption, and leverage material reuse and recycling efforts.   

As the industry’s only award dedicated to vehicle lightweighting, the Enlighten Award drives automotive companies toward a more sustainable future. Altair is proud to recognize cutting-edge technological advancements that minimize energy consumption and carbon missions.

“The entire Nikola team is honored that our hydrogen fuel cell electric truck took the top spot in the sustainable product category,” said Michael Lohscheller, President and CEO, Nikola Corporation. “We believe that Nikola is on the right side of history with our Class 8 hydrogen fuel cell electric truck in a world where diesel trucks are starting to be phased out and strong regulations are being passed. This truck emits only water and features up to 500 miles of range, allowing customers to satisfy their ESG requirements with a true cutting-edge product that offers smooth and quiet operation.”

“The winners of the Enlighten Award showcase the latest revolutionary technologies and approaches that reduce carbon footprint, minimize waste, and maximize renewable energy,” said Richard Yen, Altair senior vice president, global industry verticals and sales enablement team. “We hope this award continues to inspire future generations to ‘think light’ for many decades to come.”

The 2023 Altair Enlighten Award winners were announced in an awards ceremony on August 1, 2023. For more information on the Altair Enlighten Award and to see the full list of winners, please visit https://www.altair.com/enlighten


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, via the HYLA brand, 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, Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or Twitter @nikolamotor.

FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (Nikola”), including statements relating to the planned specifications and expected benefits of Nikola’s zero-emissions trucks; Nikola’s expectations regarding the production of hydrogen fuel cell electric trucks including benefits to end user’s ESG initiatives. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: design and manufacturing changes and delays, including global shortages in parts and materials; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; demand for and customer acceptance of Nikola’s trucks; the terms of the agreement; the risk of cancellation of orders; 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 milestones and the timing of expected business milestones; Nikola’s availability of and need for capital; and the factors, risks and uncertainties regarding Nikola’s business described in the “Risk Factors” section of Nikola’s quarterly report on Form 10-Q for the quarter ended March 31, 2023 filed with the SEC, in addition to Nikola’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Nikola assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

NIKOLA MEDIA CONTACT
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