NIKOLA STRENGTHENS SOUTHERN CALIFORNIA HYDROGEN INFRASTRUCTURE WITH NEW HYLA STATION AT TOM'S TRUCK CENTER IN LOS ANGELES COUNTY

Rhea-AI Summary

Nikola (NKLA) has expanded its HYLA hydrogen refueling network with a new station in Santa Fe Springs, California. This strategic location completes a important hydrogen fueling triangle in Southern California, alongside existing stations in Ontario and Long Beach. The new modular station, located at Tom's Truck Center, began operations on August 12, 2024, supporting Nikola's goal of having 14 refueling solutions by year-end.

The expansion aims to meet the growing demand for sustainable transportation solutions along the "hydrogen highway". Nikola is deploying assets based on anticipated demand, ensuring fueling solutions are ready for end fleets. The company offers 24/7 customer support through HYLA Ambassadors and Operation Technicians for efficient fueling.

Positive

• Expansion of HYLA hydrogen refueling network in Southern California
• Strategic location completing a important hydrogen fueling triangle
• On track to meet goal of 14 refueling solutions by year-end
• Proactive deployment of assets based on anticipated demand
• 24/7 customer support for efficient fueling operations

Negative

• None.

Insights

Clean Energy Infrastructure Analyst

Nikola's expansion of its HYLA hydrogen refueling network in Southern California marks a significant step forward in building the infrastructure necessary for widespread adoption of hydrogen fuel cell electric trucks. The strategic location of the new station in Santa Fe Springs, along a major freight corridor, addresses a critical pain point for potential adopters of this technology.

The company's goal of 14 refueling solutions by year-end demonstrates a proactive approach to infrastructure development, which is important for market penetration. By staying ahead of truck deployment, Nikola is reducing barriers to entry for fleet operators considering the switch to hydrogen fuel cell technology.

However, investors should note that while this expansion is promising, the economic viability of these stations will depend on the rate of truck adoption and utilization. The success of Nikola's strategy hinges on its ability to synchronize infrastructure growth with vehicle sales and deployment.

Transportation Industry Analyst

Nikola's partnership with Tom's Truck Center for this new HYLA station is a shrewd move that leverages existing relationships within the trucking industry. By integrating refueling capabilities at a dealership, Nikola is creating a one-stop-shop for potential customers, which could accelerate adoption of their hydrogen fuel cell electric trucks.

The formation of a "hydrogen fueling triangle" in Southern California is strategically significant. This network covers a densely populated area with high commercial traffic, potentially serving as a proof of concept for future expansion. If successful, this model could be replicated in other regions, creating a scalable blueprint for hydrogen infrastructure development.

However, the long-term profitability of this venture will depend on Nikola's ability to drive down costs associated with hydrogen production and distribution. Investors should monitor the operational efficiency and utilization rates of these stations as indicators of the technology's commercial viability.

Expansion supports growing demand for sustainable transportation solutions along the burgeoning "hydrogen highway"

PHOENIX, Aug. 12, 2024 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, continues to deliver HYLA refueling solutions to support volume ramp-up for its Class 8 hydrogen fuel cell electric trucks in Southern Calif, just off of the 5 Freeway, one of the busiest truck routes in the U.S.

Located at 13443 Freeway Dr. in Santa Fe Springs, Calif., this new HYLA modular refueling station is located at Tom's Truck Center, an important part of the Nikola sales and service dealer network. It begins operations today, and supports Nikola's goal of 14 refueling solutions by year-end, reflecting a mix of HYLA and partner stations available for our customers.

Nikola continues to launch stations and deploy assets based on anticipated demand, with the main objective of staying ahead of hydrogen fuel cell electric truck deployment to ensure fueling solutions are ready and available for end fleets.

"Nikola is committed to leading the hydrogen revolution by collaborating with key industry partners to strengthen and expand our hydrogen supply chain. Our efforts to grow the HYLA refueling infrastructure underscore our dedication to meeting the rising demand for hydrogen fuel cell electric trucks and driving the transition to zero-emission transportation," said President of Energy, Ole Hoefelmann. "We thank the City of Santa Fe Springs, the Santa Fe Springs Fire Department, and Tom's Truck Center for their support in making this project a reality and advancing the HYLA hydrogen network."

Complementing the infrastructure network is Nikola's commitment to providing an exceptional customer experience, offering round-the-clock assistance through dedicated HYLA Ambassadors and Operation Technicians for seamless and efficient fueling.

"We are thrilled to be the first in the U.S. to offer a hydrogen refueling station onsite at our dealership to support the first wave of Nikola hydrogen fuel cell electric trucks now on the roads," said Tom's Truck Center President and CEO KC Heidler. "Working with Nikola to make this happen also fits in perfectly with Tom's Truck Center's long-term commitment to zero-emission transportation."

The HYLA refueling network is structured to offer a diverse portfolio of solutions for Nikola's hydrogen fuel cell electric vehicles and additional Class 8 customers, including modular and permanent HYLA stations, "behind-the-fence" options, and partnerships such as with FirstElement Fuel in Oakland, Calif.

With the addition of the Santa Fe Springs station, Nikola is completing a crucial hydrogen fueling triangle in Southern Calif. This strategic location, together with its Ontario and Long Beach stations, now forms a robust network that spans multiple counties, serving a population of over 12 million people.*

ABOUT NIKOLA CORPORATION:
Nikola Corporation's mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem.

Nikola headquarters is based in Phoenix, Ariz. with a manufacturing facility in Coolidge, Ariz.

Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via 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 (the "Company"), including statements relating to the benefits and capabilities of the Sant Fe Springs station or the planned HYLA fueling solutions and related hydrogen infrastructure; about the station beginning a pivotal milestone in the Company's strategic plan by staying ahead of hydrogen fuel cell electric truck deployment; about the station marking a significant stride toward sustainable transportation; and about the stations ability to drive positive environmental impact; providing customers access to hydrogen; working with partners to establish a fueling ecosystem; about the Company's dedication to meeting the rising hydrogen demand and driving the transition to zero-emission transportation; and the Company's beliefs regarding its competitive position and the benefits thereof. 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: the ability of the Company to access sufficient capital to meet its requirements and fund its business; manufacturing delays and difficulties; risks related to the rollout of the Company's hydrogen fueling infrastructure and the timing thereof; construction risks and delays; the availability of access to hydrogen refueling facilities; risks associated with manufacturing batteries and fuel cell power modules; variations in and characteristics of the hydrogen fueling location, including but not limited to fueling hardware and software protocol, fuel amount, and fueling conditions, any of which may affect refueling times; variations in terrain, temperature, speed, road conditions, truck configuration, payloads and other variables which may affect range; the Company's ability to remain listed on Nasdaq; and the factors, risks and uncertainties described in the "Risk Factors" section of the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2024 filed with the SEC, in addition to the Company'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, the Company 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.

* US Census Bureau - https://www2.census.gov/programs-surveys/popest/tables/2020-2023/metro/totals/cbsa-met-est2023-pop.xlsx

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/nikola-strengthens-southern-california-hydrogen-infrastructure-with-new-hyla-station-at-toms-truck-center-in-los-angeles-county-302219297.html

SOURCE Nikola Corporation

FAQ

Where is Nikola's new HYLA hydrogen refueling station located?

Nikola's new HYLA hydrogen refueling station is located at 13443 Freeway Dr. in Santa Fe Springs, California, at Tom's Truck Center.

When did Nikola's new HYLA station in Santa Fe Springs begin operations?

The new HYLA station in Santa Fe Springs began operations on August 12, 2024.

How many refueling solutions does Nikola (NKLA) aim to have by year-end?

Nikola (NKLA) aims to have 14 refueling solutions by year-end, including a mix of HYLA and partner stations.

What is the significance of the Santa Fe Springs station for Nikola's (NKLA) hydrogen network?

The Santa Fe Springs station completes a important hydrogen fueling triangle in Southern California, along with Nikola's Ontario and Long Beach stations, serving a population of over 12 million people.