NIKOLA DELIVERS FIRST NIKOLA TRE BATTERY-ELECTRIC TRUCKS TO TOTAL TRANSPORTATION SERVICES INC.

Rhea-AI Summary

Nikola Corporation (Nasdaq: NKLA) has delivered its first Nikola Tre battery-electric vehicle (BEV) pilot trucks to Total Transportation Services Inc. (TTSI), a significant milestone for zero-emission transportation at the ports of Los Angeles and Long Beach. The delivery aligns with TTSI's sustainability goals, aiming for 100 zero-emission trucks starting with a four-truck pilot. The Nikola Tre BEV is designed for local deliveries up to 350 miles, while the FCEV variant targets 500 miles. This partnership demonstrates substantial progress in reducing emissions from port operations.

Positive

• First delivery of Nikola Tre BEV pilot trucks to TTSI marks a significant milestone.
• Partnership with TTSI supports sustainability goals and zero-emission transportation.
• Potential for future orders of 100 zero-emission trucks based on successful pilot.

Negative

• None.

LOS ANGELES, Dec. 17, 2021 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emission transportation and energy infrastructure solutions, today delivered the first Nikola Tre battery-electric vehicle (BEV) pilot trucks to Total Transportation Services Inc. (TTSI), one of Southern California's prominent port trucking companies, to expedite zero-emission transportation solutions at the ports of Los Angeles and Long Beach.

In attendance at today's ceremony were Congresswoman Nanette Diaz Barragán, who represents California's 44^th District, CA State Senator Steven Bradford (SD-35) and representatives from the:

• Office of U.S. Congressman Alan Lowenthal
• Office of U.S. Representative Linda Sanchez
• Office of U.S. Representative Linda Torres
• Office of U.S. Representative Maxine Waters
• CA Governor Gavin Newsom's Office of Business and Economic Development
• Office of CA State Assemblymember Mike Gipson
• Office of CA State Assemblymember Patrick O'Donnell
• Office of CA State Senator Ben Allen
• Office of LA County Board of Supervisor Hilda Solis
• Office of Los Angeles Mayor Eric Garcetti, and
• Representatives from the following organizations: Port of Los Angeles, South Coast Air Quality Management District, Coalition for Clean Air, Long Beach Clean Cities/Cerritos College, LA Clean Tech Incubator (LACI), CALSTART, Better World Group and labor partners.

Following the program, guests had the opportunity to experience the Tre BEV first-hand during demonstrations and as truck passengers.

"Nikola committed to make its first Tre BEV deliveries in Q4 2021 and it is a big honor to celebrate this milestone with our partner, TTSI, and dignitaries who are committed to advancing zero-emission transportation solutions to reduce truck emissions in port operations," said Nikola CEO Mark Russell. "TTSI has significant sustainability goals, and we are pleased to help them achieve their vision with our zero-emission trucks."

As previously announced, TTSI's LOI is for 100 zero-emission trucks beginning with a four-truck pilot of two BEVs and two FCEVs. Based on satisfactory completion of the vehicle trials and subject to TTSI obtaining certain government funding, thirty BEVs are projected to follow later in 2022, and 70 FCEVs are anticipated to start in 2023.

The Nikola Tre BEV is designed for local deliveries up to 350 miles. The Nikola Tre FCEV truck is targeted for distances up to 500 miles and is expected to address the North American regional market, especially when additional hauling capacity or quick fueling are required by fleet operators.

"This day represents a major step in our continual quest to achieve a zero-emission fleet, which is why TTSI highly values its partnership with Nikola. Production, performance, and maintenance will be the key to our future success, and we are confident Nikola will excel on all three fronts," said Vic LaRosa, president of TTSI. 

"Reaching a zero-emission transportation future requires bold leadership and collaboration from federal, state, and local partners, along with major investments from the private sector," Congresswoman Nanette Diaz Barragán said. "This is crucial for the health of people living in the communities near the ports in my district, who suffer higher rates of cancer, asthma and other respiratory diseases due to all the toxic diesel emissions coming from the equipment and trucks at the ports. I appreciate the commitment TTSI and Nikola have made at the Port of Los Angeles to a cleaner, safer future."

According to TTSI, in any given month 13,000 to 14,000 trucks call at the port of Los Angeles/Long Beach, emitting roughly 2,600 tons per year of smog-causing nitrogen-oxide emissions. This location and transportation use case represent one of the largest opportunities in California to make a significant impact for the transition to sustainable transportation. TTSI has been on the forefront of this transition with early adopter status and will partner with Nikola to transition both BEVs and FCEVs into operation on a trial basis.

European ports are also planning to utilize Nikola's trucks. In September 2021, Nikola and IVECO signed an MoU with the Hamburg Port Authority to deliver up to 25 Nikola Tre BEVs for delivery to that Port throughout 2022.

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.

ABOUT TOTAL TRANSPORTATION SERVICES INC. (TTSI)
TTSI is a leading provider of logistics services with distinct expertise in distributing imports within the US and Canada. The company is headquartered in Southern California and also has operations in Southern and Northern California, Tacoma, Virginia, and Chicago. For more information, visit www.ttsi.com.

FORWARD LOOKING STATEMENTS OF NIKOLA CORPORATION 
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 collaboration between TTSI and Nikola; the benefits of FCEV trucks and BEV trucks in drayage and port operations; the excepted timing of delivery of trucks; and the expected timing, features and specifications of the company's FCEV and BEV 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 agreement; the failure to realize the anticipated benefits of the letter of intent or any definitive agreement; the ability of TTSI to obtain government funding for the trucks; design and manufacturing changes and delays; 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 quarterly report on Form 10-Q for the quarter ended September 30, 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.

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SOURCE Nikola Corporation

FAQ

What is the significance of Nikola's delivery to Total Transportation Services Inc. on December 17, 2021?

Nikola's delivery of the first Tre BEV trucks to TTSI marks a key milestone in advancing zero-emission transportation solutions at major ports, aiming to reduce truck emissions significantly.

What are the specifications of the Nikola Tre BEV and FCEV trucks?

The Nikola Tre BEV is designed for local deliveries up to 350 miles, while the FCEV variant targets a range of 500 miles, catering to different logistical needs.

How many trucks are involved in the initial pilot with TTSI?

The initial pilot involves four trucks: two BEVs and two FCEVs, with a broader goal of 100 zero-emission trucks depending on pilot success and funding.

What role does TTSI play in Nikola's sustainability efforts?

Total Transportation Services Inc. is partnering with Nikola to achieve significant sustainability goals by transitioning to a fleet of zero-emission trucks, enhancing environmental standards in port operations.

How does the delivery of Nikola Tre trucks impact the Los Angeles port area?

The delivery of Nikola Tre trucks aims to significantly reduce smog-causing nitrogen-oxide emissions from approximately 13,000 to 14,000 trucks that operate at the Los Angeles/Long Beach ports monthly.