All discussion of Nikola Motors

[Stretch2727]

Nikola shares surge after GM executive gives hope of keeping partnership deal alive

From GM Mark Reuss:

“The opportunity to put our fuel cells into a class 7 and 8 vehicle is spectacular,” he said on CNBC’s “Squawk Box.” “We know there’s great operational cost advantages there, there’s great efficiencies and there’s great opportunities.”

I just don't get it. If they have the fuel cells, GM cannot build the rest of the truck? I just cannot believe GM is this lost. Chasing both fuel cells and Nikola at the same time.

 

[smorgasbord]

Anyone listening to the conference call?

 

[Oil4AsphaultOnly]

Not I, but just found their earnings report:

Nikola Corporation Reports Third Quarter 2020 Results

$117m in losses, but they've got $908m in cash remaining. They expect to have trial production of their factory in Q3 2021. Making which vehicle? Didn't say. But at their current cash burn rate, I expect another cash raise by Feb '21 at the latest. Anyone want to start a pool?

 

[MP3Mike]

They expect to have trial production of their factory in Q3 2021.

Really? They are still just pushing dirt around on the site...

 

[MP3Mike]

Making which vehicle?

This is what it says: "North American production of the Nikola Tre BEV will commence upon Phase 1.0 completion of our Coolidge, Arizona plant, beginning with truck assembly from component kits imported from Europe."

So just making the same truck that IVECO is current in the process of making for them. (One pre-production assembled, 4 more in progress of being assembled now.)

 

[smorgasbord]

Nikola acknowledged for the first time that it is under investigation by the US Department of Justice after fraud allegations at the electric truck start-up. ... The furore had so far cost the revenue-less business $5m in legal and regulatory costs, Nikola said on Monday in its third quarter update.

Nikola reveals escalating legal bill after fraud claims

 

[AudubonB]

...They expect to have trial production of their factory in Q3 2021...

Yes, so do I.

 

[Oil4AsphaultOnly]

Yes, so do I.

You're such a pessimist! I expect those trials to start much sooner!

 

[smorgasbord]

Nikola's (NKLA) CEO Mark Russell on Q3 2020 Results - Earnings Call Transcript

 

[smorgasbord]

Interesting color on their batteries:

The base plan that we are going into production with for the Nikola Tre BEV, that electric vehicle is a battery pack that we have designed and engineered, and which contains a battery module designed and engineered by Romeo, which contains cells from a Korean supplier. And that's what we will be going into production with next year.

We simulate that of course, and we'll do accelerated testing, but as everybody knows for example, with Tesla batteries, it wasn't until they were out there for seven years, that you knew how good they were at the end of seven years. And of course, they turned out to be really good as everybody knows. And since we're basing our batteries on the same base cell, we hope that we get the same result, but only actual experience will prove that out.

EDIT and:

The Nikola Tre BEV’s heavy-duty truck elements are leveraged from the production S-Way platform in partnership with IVECO. This includes the chassis elements such as a high strength steel ladder frame with multilink rear suspension on the solid axle with electronically controlled air springs and 17-inch air disc brakes, all integrated with the state-of-the-art Bosch electro-hydraulic steering system. Nikola’s technology focus on developing electric vehicle propulsion architecture, including the high voltage battery system, electric drive axle, vehicle thermal management, vehicle controls and human machine interface, including infotainment.

Nikola has engineered at bespoke 800 volts propulsion architecture for the Class 8 battery electric truck, consisting of 720 kilowatt hour multipack battery system integrated with a 480 kilowatt continuous and 1,020 kilowatt peak single speed, PMSM dual motor drive electric axle.

 

[Boomer19]

Interesting color on their batteries:

so they’re using 1865 or 2170?

is it LG?
SK, Samsung, eco1?

 

[thx1139]

Sorry guys. With NKLA +15.39% today, it just does not feel like at win for TSLA +10.29%
The only good news is that with NIO -3.28% at least we don't have to listen to @Quesder whine about having more Nio than Tesla.

So what drove NKLA, and to a lessor extent FUV, today? FUV I have some understanding since I own some and it is a real company, but why is anyone buying NKLA?

 

[MP3Mike]

So what drove NKLA, and to a lessor extent FUV, today? FUV I have some understanding since I own some and it is a real company, but why is anyone buying NKLA?

Rumor that the deal with GM is pretty much done. But it is just a rumor.

Nikola goes on wild ride on report of GM-NKLA finalized deal | Seeking Alpha

 

[thx1139]

Rumor that the deal with GM is pretty much done. But it is just a rumor.

Nikola goes on wild ride on report of GM-NKLA finalized deal | Seeking Alpha

GM still going through with it. Wow!

 

[MP3Mike]

GM still going through with it. Wow!

If they do, it just shows how desperate, and screwed, they are.

 

[Todd Burch]

I’m sad that a portion of my tax money went to bail out such a lost, clueless company as GM.

psst! GM! Lean your ear this way. I have a secret to tell you:

The future of automotive transportation is already here. And it rhymes with “eclectic” (not “bydraben”).

 

[JRP3]

Nikola extending the lockup date but it looks as if Trevor still gets to sell

 

[Khamul]

Just in case anyone here is thinking about buying puts on NKLA, due to the upcoming share lockup holding period ending: don't do that. They have extended the lockup period. Sigh. It's going to go up 10% now, isn't it? I really hate that company.

"In November, 2020, members of our board of directors, executive officers, their affiliates and certain entities associated with those individuals voluntarily agreed to extend the lock-up provision on an aggregate of approximately 136,500,000 shares of our common stock, including vested stock options and warrants, through April 30, 2021."

 

[SageBrush]

Nikola shares surge after GM executive gives hope of keeping partnership deal alive

From GM Mark Reuss:

“The opportunity to put our fuel cells into a class 7 and 8 vehicle is spectacular,” he said on CNBC’s “Squawk Box.” “We know there’s great operational cost advantages there, there’s great efficiencies and there’s great opportunities.”

I just don't get it. If they have the fuel cells, GM cannot build the rest of the truck? I just cannot believe GM is this lost. Chasing both fuel cells and Nikola at the same time.

It's not like Nikola would build the truck regardless. What *does* Nikola bring to the table ?

IP ? None
Factory ? None
Human Capital ? None
Brand ? Negative value (to be kind)
Subsidy ? So far as I know, no greater than any other company pitching fuel cell vehicles

 

[mongo]

It's not like Nikola would build the truck regardless. What *does* Nikola bring to the table ?

IP ? None
Factory ? None
Human Capital ? None
Brand ? Negative value (to be kind)
Subsidy ? So far as I know, no greater than any other company pitching fuel cell vehicles

Other People's Money
Nikola is a renevue stream to existing suppliers for an unknown length of time, but dough is dough and visibility helps the supplier's sales.