In the distant past, some naysayers suggested electric vehicles would just simply be trash — Nikola Motors is proving them true starting in 2023.
The EV maker just inked a deal to produce 2,500 electric waste and recycling collection trucks for Republic Services, a large national recycling and solid waste disposal company. The deal has an option for an additional 2,500 trucks bringing the potential total to 5,000 units.
The zero-emission vehicles are expected to have a range of 150 miles, and are expected to carry up to an industry-leading 720kWh of energy storage and be limited to 1,000 horsepower.
“Nikola specializes in heavy-duty, zero-emission Class 8 trucks. The refuse market is one of the most stable markets in the industry and provides long-term shareholder value,” said Nikola Founder and Executive Chairman Trevor Milton.
“The Nikola Tre powertrain is ideal for the refuse market as it shares and uses the same batteries, controls, inverters and e-axle. By sharing the Tre platform, we can drive the cost down for both programs by using the same parts.”
Nikola has been making news recently with the recent news that it was taking reservations for its new Badger electric pickup truck. Battery-electric trucks have been all the rage in recent months with the Badger joining – or being joined – by Tesla, GMC, Ford, Chevy, Rivian, Lordstown Motors and even Fisker revealing plans for truck introductions ranging from next spring to 2025.
The Phoenix-based company’s pickup is really a recent addition to its line-up as it was initially better known for its efforts to produce hydrogen powered Class 8 trucks, later adding full BEV models to its coming portfolio.
Actually, its battery-electric Class 8 truck – the Nikola Tre – will be first to market, hitting the road next year. It will be followed by the Nikola Two Class 8 FCEV starting in 2023. The aforementioned build out of hydrogen fueling stations will serve Nikola customers’ fleets.
Nikola’s profile has been on the rise in recent months in light of the new product, but not solely for those endeavors. In June, the company completed its merger with VectoIQ Acquisition Corp. netting $700 million in cash, a new ticker symbol and some high-powered help in the form of a new board member.
The deal, which was initially announced in March, just needed the approval of VectoIQ shareholders. As a result, the company, which was already trading on the NASDAQ, got a new version of Nikola – it was Nikola Motors until now – got a new ticker symbol: NKLA. The company plans to use to build a state-of-the-art manufacturing facility in Coolidge, Arizona, and continue its hydrogen station infrastructure roll out.