NIKOLA EXPANDS PRESENCE TO CANADA WITH NIKOLA TRE BEV AND FCEV TRUCK AND HYDROGEN MOBILE FUELER ORDER FROM ALBERTA MOTOR TRANSPORT ASSOCIATION

Rhea-AI Summary

Nikola Corporation (NASDAQ: NKLA) has expanded its presence in Canada by selling a Nikola Tre battery-electric vehicle (BEV) and a hydrogen fuel cell electric vehicle (FCEV) to the Alberta Motor Transport Association (AMTA). This partnership includes hydrogen refueling support through Nikola's mobile fueler. The trucks will be integrated into AMTA's Hydrogen Commercial Vehicle Demonstrations Project, aiming to collect performance data and promote zero-emissions technology adoption. The Nikola Tre BEV features a range of up to 530 km, while the FCEV boasts a range of up to 800 km and a fueling time of 20 minutes. This initiative aligns with Canada's emission reduction goals and positions Nikola favorably in a growing market for sustainable transportation solutions.

Positive

• Expansion into a significant new market in Canada.
• Sale includes both BEV and FCEV, promoting diverse product offerings.
• Partnership with AMTA supports data collection and market adoption.
• Both trucks contribute to reducing CO2 emissions, equating to removing 23 cars annually.
• Nikola plans to build 60 hydrogen stations in North America by 2026.

Negative

• None.

PHOENIX and ALBERTA, April 25, 2023 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, announces the expansion of its presence in Alberta, Canada, with the sale of a Nikola Tre battery-electric vehicle (BEV) and a Nikola Tre hydrogen fuel cell electric vehicle to the Alberta Motor Transport Association (AMTA). AMTA is combining this purchase with refueling support, via access to Nikola's innovative hydrogen mobile fueler.

AMTA will incorporate the new heavy-duty vehicles into its Hydrogen Commercial Vehicle Demonstrations Project. This first-of-its-kind project in Canada officially launched on February 10, 2023, and offers Alberta carriers the opportunity to use and test Class 8 vehicles that operate with hydrogen fuel within their unique operations. These trials will look at the performance of hydrogen-fueled vehicles on Alberta roads, payloads, and weather conditions, while addressing challenges around fuel cell reliability, infrastructure, and vehicle cost and maintenance. Learn more at transformingtransportation.ca.

"AMTA is a leader in helping Canada reach its 2050 net-zero goals and supports the widespread adoption of zero-emissions commercial vehicles," says Doug Paisley, board chair, AMTA. "We are excited to put these Nikola trucks to work in Alberta and begin collecting performance data, raising awareness to this advanced technology, promoting early adoption, and creating industry confidence in such an innovative technology. AMTA works closely with the industry and its many partners to identify and research opportunities and propose and implement data-driven solutions that meet the needs and challenges of our industry."

This week's anticipated delivery of the Nikola Tre BEV, and the expected delivery of the Nikola Tre FCEV by the end of 2023, are critical first steps in selling hundreds of trucks in Alberta, which is a major new market for Nikola and will make a significant impact considering the implementation of one heavy-duty zero-emission truck enables the replacement of one heavy-duty diesel truck. In annual CO₂ emissions, this equates to removing 23 passenger cars from the road annually, based on U.S. EPA data.

"Canada is moving fast to decarbonize the transportation sector by removing diesel trucks from the road to help the environment," says Michael Lohscheller, President and CEO, Nikola Corporation. "We want Nikola to be in lockstep with leaders like AMTA to accelerate these important market adoption and regulatory policies."

"Canada is a global climate leader with bold targets for emission reductions," says Carey Mendes, President, Nikola Energy. "Nikola's zero-emissions trucks and its plans for building hydrogen infrastructure are aligned with Canada's goals and underpins a fair share our publicly announced plans for 300 metric-tons of hydrogen supply, with 60 hydrogen stations planned for across North America by 2026. This partnership is just the beginning of bringing hundreds of FCEVs to Alberta and Canada."

AMTA's order will be used to help promote further adoption of Nikola's zero-emissions trucks for a wide variety of trucking companies in Canada. Nikola will support the promotion of these trucks with a Nikola hydrogen mobile fueler to enable early adoption as well as geographic expansion across Canada by providing the support needed to get on the road quickly and seamlessly.

The Nikola Tre BEV has a range of up to 530 km, 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.

With a range of up to 800 km and an estimated fueling time of 20 minutes (depending on the characteristics of the hydrogen fueling location, including fueling hardware and software protocol, fuel quantity, and fueling conditions), the Nikola Tre FCEV is expected to have among the longest range of all commercially available zero tailpipe emission Class 8 trucks while realizing weight savings when compared to BEV Class 8 trucks with similar range. The Tre FCEV is well-suited for a variety of applications ranging from drayage and intermodal to metro-regional truckload and less than truckload, to certain specialized hauling use cases.

Nikola's HYLA hydrogen mobile fueler is an innovative, heavy-duty, 700 bar (10,000 psi) hydrogen mobile fueler capable of directly fueling FCEVs.

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 ALBERTA MOTOR TRANSPORT ASSOCIATION (AMTA)

The Alberta Motor Transport Association is a not-for-profit, advocacy and safety training association function as The Voice, The Standard ,and The Resource for commercial transportation in Alberta. For more than 85 years, its work has encompassed a broad range of environmental, psychosocial, socio-economic, safety, advocacy, and compliance matters that impact provincial highways. Projects in research and innovation bring key stakeholders together to lead and develop innovative technologies that significantly enhance the industry while reducing negative human and environmental impacts. For more information, visit amta.com or transformingtransportation.ca.

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 each of AMTA and Nikola; expectations related to the environmental benefits derived from the use of Nikola trucks; the  expectations regarding Nikola's potential success in the Canadian market; exceptions regarding projected truck builds and related specifications and the timing of delivery of hydrogen electric trucks; the expectations for Nikola's trucks and market acceptance of electric trucks; slower than anticipated growth of new clean energy product offerings; inability to achieve expected pricing increases or continued supply chain challenges including volatility in raw materials and supply; and market opportunity. 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 general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; risks related to the conflict between Russia and Ukraine; the outcome of legal proceedings to which Nikola is, or may become a party; the conversion of pre-orders into binding orders; risks related to the rollout of Nikola's business and the timing of expected business milestones; the effects of competition on future business; the availability of capital; and the other risks and factors detailed from time to time in Nikola's reports filed with the Securities and Exchange Commission, including factors discussed under Risk Factors in Nikola's  annual report on Form 10-K for the year ended December 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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SOURCE Nikola Corporation

FAQ

What vehicles has Nikola sold to the Alberta Motor Transport Association?

Nikola has sold a Nikola Tre battery-electric vehicle (BEV) and a hydrogen fuel cell electric vehicle (FCEV) to the Alberta Motor Transport Association.

What is the significance of Nikola's sale to AMTA?

The sale marks Nikola's expansion into Canada and supports the adoption of zero-emissions vehicles through a collaboration with AMTA for data collection.

What are the ranges of the Nikola Tre BEV and FCEV?

The Nikola Tre BEV has a range of up to 530 km, while the FCEV has a range of up to 800 km.

What environmental benefits are associated with Nikola's trucks?

The implementation of one heavy-duty zero-emission truck can remove the equivalent CO2 emissions of 23 passenger cars from the road annually.

When is the expected delivery of the Nikola Tre FCEV?

The expected delivery of the Nikola Tre FCEV is by the end of 2023.

How does the partnership with AMTA align with Canada's emission goals?

The partnership supports Canada's net-zero goals by promoting the adoption of zero-emissions commercial vehicles.