Automotive World Magazine – July 2020

Automotive World Magazine features the best and sharpest Automotive World content, curated specifically to help you understand the future of mobility

Automotive World Magazine – July 2020

“We beat Daimler, Volvo, Tesla, everybody…”

A sudden appearance on the NASDAQ in early June—thanks to a complex reverse merger that increased Nikola’s stock from US$3bn to US$10bn before it went public—saw the company’s valuation exceed US$30bn to briefly top Ford Motor Company. The subsequent slide in share value brought the company’s market cap back down, but it settled at a nonetheless staggering US$23bn. And the company has yet to deliver a single truck.

With bold and seemingly incredible ambitions—“We’re going to completely control trucking in America” and “We will become the leader in electrified pick-up trucks”—it’s easy to understand why Nikola and its founder and Chairman Trevor Milton command equal measures of passion and cynicism.

In an exclusive and fascinating interview with Automotive World, Milton discusses a range of subjects, from battery and fuel cell electric trucking to the importance of connectivity, autonomous driving, and the company’s plans to dominate North America’s electric heavy-duty and pick-up truck markets.

Nikola claims to be “a global leader in zero-emissions and infrastructure solutions”, but it’s in the truck market and out on the road where Nikola will need to show that it can convert those solutions into credible products.

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