Nikola Q3 2020 Earnings Report
Key Takeaways
Nikola Corporation reported its Q3 2020 financial results, highlighting the assembly of the first Nikola Tre BEV prototypes and ongoing work with customers on BEV truck orders. The company ended the quarter with a strong cash position of $908 million.
Completed the assembly of the first Nikola Tre BEV testing vehicles at IVECO's Ulm, Germany manufacturing facility.
Announced a strategic collaboration with General Motors.
Made substantial progress toward completion of building modifications at Nikola's manufacturing facility on IVECO's industrial complex in Ulm, Germany.
Broke ground on construction at Nikola's Coolidge, Arizona greenfield manufacturing facility.
Nikola
Nikola
Forward Guidance
Nikola remains committed to announcing potential collaboration partners concerning electricity procurement and the rollout of hydrogen fueling infrastructure. In addition, during the fourth quarter of 2020, Nikola expects to make continued progress against its milestones for the development of the Tre BEV and construction of the Coolidge, Arizona, facility.