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15 Nikola Tre FCEV will go to Biagi Bros. Inc. in California in the fourth quarter of 2023

15 Nikola Tre FCEV will go to Biagi Bros.  Inc. in California in the fourth quarter of 2023

 


PHOENIX, January 25, 2023 /PRNewswire/ — Nikola Company (Nasdaq: NKLA), a global leader in zero-emission transportation, energy supply and infrastructure solutions, announced today that The Biagi brothers. Inc. expects to take delivery in the fourth quarter of 2023 of 15 Nicholas Three hydrogen fuel cell electric vehicles (FCEV) in Ontario, California. FCEV trucks are expected to travel more than 100,000 miles per year, to support round-the-clock operations.

“These first 15 Nikola Tre FCEV are part of The Biagi brothers. commitment to moving their fleet to zero emissions,” said Michael Lohscheller, President and CEO of Nikola. “In addition, the trucks will be refueled at the previously announced hydrogen station at Ontario, California.”

The Biagi brothers. successfully tested Nikola’s Class 8 FCEV from January 2022,” said Andrea BiagiPresident of The Biagi brothers. “After logging over 12,000 miles, we are extremely pleased with the performance and specification of the trucks, and are ready to move forward to officially build our zero-emissions fleet later this year.”

Nikola recently announced that he received a California Air Resources Board (CARB) Zero Emission Powertrain Executive Order this is a requirement for the Nikola Tre FCEV to be eligible for CARB’s Hybrid and Zero Emission Truck and Bus Voucher Incentive Project (HVIP) program.

After final HVIP approval, 2023 Nikola Tre FCEV buyers may be able to qualify for California state-based incentive valued at $240,000 by truck ; $270,000 by truck for drayage fleets; or until $288,000 per truck for fleets of (i) 10 trucks or less, (ii) performing drayage operations, and (iii) located in a disadvantaged community area. Eligible fleets without drayage can get up to 30 HVIP vouchers and drayage fleets can get up to 50 vouchers.

In addition to financing provided by HVIP, buyers of Nikola’s Tre FCEV will also be eligible for an additional $40,000 clean commercial vehicle tax credit in 2023 from the federal government due to the adoption of the Inflation Reduction Act.

With a range of up to 500 miles and an estimated refueling time of less than 20 minutes based on technology improvements, the Nikola Tre FCEV is expected to have one of the longest ranges of any zero-emission Class 8 tractor. commercially available exhausts while achieving 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 truck loading and less truck loading to certain specialty transportation use cases.

ABOUT THE NIKOLA COMPANY
Nikola Corporation is transforming the transportation industry globally. As a designer and manufacturer of zero-emission hydrogen and battery electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems and hydrogen station infrastructure, Nikola is committed 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.

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 are generally accompanied by words such as ” believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “should”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospect” and similar expressions which predict or indicate future events or trends or which are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the company’s expectations regarding its business, business model and strategy; the benefits expected from the company’s relationship with Biagi Brothers; the company’s expectations regarding its projected truck builds and related specifications; the company’s expectations regarding its trucks and market acceptance of electric trucks; and market opportunity. These statements are based on various assumptions, identified or not identified in this press release, including the receipt of a purchase order for trucks of Biagi Brothers, and on the current expectations of by Nikola 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, economic, financial, legal, regulatory, general political and trade and foreign market and change; the potential effects of COVID-19; the outcome of legal proceedings to which Nicholas is or may become a party; the conversion of pre-orders into firm orders; risks related to the deployment of by Nikola expected business milestone activities and timing; the effects of competition on by Nikola future business; the availability of capital; and other risks detailed from time to time in by Nikola reports filed with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and other documents Nicholas filings with the SEC. If one of these risks materializes, or if 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 Nicholas specifically disclaims any obligation to update these forward-looking statements.

SOURCENikola Corporation

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