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Nikola’s positive momentum, including an order for three FCEVs from J.B. Hunt Transport on Monday, won’t likely be reflected in Nikola’s second-quarter earnings report Friday. But there could be an upside surprise in the startup’s cash on hand because it sold:
- Its 50% stake in a European manufacturing joint venture with Iveco for $35 million and the return of 20 million shares of Nikola stock.
- A hydrogen hub in Buckeye, Arizona, for $24 million to partner Fortescue Metals Group.
- Four hundred acres of Arizona desert where its plant is located. It is leasing back the plant site from the buyer.
Nikola also cut expenses by laying off 270 employees in June. It likely will book costs associated with the separations.
In addition to the Hunt order, the company announced $16.3 million in grants for hydrogen stations. The Hunt order included 10 battery-electric Tres from inventory. Nikola’s stock price (NASDAQ: NKLA) rose above $3 a share on Tuesday for the first time since October.
www.freightwaves.com/news/...rs-for-hydrogen-fuel-cell-trucks
- Its 50% stake in a European manufacturing joint venture with Iveco for $35 million and the return of 20 million shares of Nikola stock.
- A hydrogen hub in Buckeye, Arizona, for $24 million to partner Fortescue Metals Group.
- Four hundred acres of Arizona desert where its plant is located. It is leasing back the plant site from the buyer.
Nikola also cut expenses by laying off 270 employees in June. It likely will book costs associated with the separations.
In addition to the Hunt order, the company announced $16.3 million in grants for hydrogen stations. The Hunt order included 10 battery-electric Tres from inventory. Nikola’s stock price (NASDAQ: NKLA) rose above $3 a share on Tuesday for the first time since October.
www.freightwaves.com/news/...rs-for-hydrogen-fuel-cell-trucks
