Nikola sells record number of FCEVs in Q3/2024
The bottom line is 199.78 million dollars in losses in the third quarter of 2024. That is actually less than half of what it was in Q3/2023 when net loss from continuous operations amounted to nearly 426 million dollars. For the first nine months of the year, Nikola thus posted a loss of 481 million dollars (compared to $711 million in the same period last year).
Overall, the US electric truck maker produced 83 vehicles and delivered 90 units. As Nikola points out, 88 of these were fuel cell trucks – a new delivery record for the company. “Year-to-date, we had record sales of hydrogen fuel cell electric trucks, a 78% increase in FCEV fleet adoption, and a nearly 350% increase in hydrogen fuel dispensed at our commercial stations,” said Stephen Girsky, President and CEO of Nikola.
The 88 FCEVs delivered represent a 22 per cent growth compared to the second quarter of this year, when Nikola delivered 72 fuel cell trucks. In total, the manufacturer sold 235 FCEVs wholesale, hoping to reach “300-350 trucks by year-end.”
| Q2/2024 | Q2/2023 | Q1-Q3/2024 | Q1-Q3/2023 | |
|---|---|---|---|---|
| Production | 83 | N/A | 203 | 96 |
| Sales | 90 | 3 | 203 | 79 |
| Turnover | $25.181 mn | -$1.732 mn | $63.997 mn | $24.307mn |
| Nett loss | -$199.781 mn | -$425.768 mn | -$481.177 mn | -$812.686 mn |
| Adjusted EBITDA | -$123.610 mn | -$188.563 mn | -$337.037 mn | -$417.318 mn |
Sticking with hydrogen: Nikola also stresses that it expects “to deliver 10 HYLA fueling solutions by year-end.”
While the US manufacturer’s focus is on hydrogen, it also offers a battery-electric variant of its truck. However, all 209 units delivered in 2023 had to be recalled in August last year, after fires broke out in the vehicles. Apparently, the cause was a leak in the coolant circuit of the battery pack. Now, 78 units are back on the road, Nikola reports. The company added: “Since putting the BEV 2.0 back into service, 19 end fleets have accumulated more than 715K in-service road miles.”
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