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The EV truck company's stock is trading down over 99% from its peak price.
Nikola rode a wave of enthusiasm for electric transportation when it went public in 2020 and at one point was worth in excess of $30 billion — more than Ford at that time.
Nikola's share price has declined 87% over the past year, and declined 50% over the past three months alone. Much of that was driven by the company overpromising and drastically underdelivering.
2010 - Alfa Romeo MiTo FCEV; Audi: 2009 - Audi Q5 FCEV [27] 2014 - Audi A7 h-tron quattro powered by Ballard Power Systems; BMW: 2010 - BMW 1 Series Fuel-cell hybrid electric [28] 2012 - BMW i8 fuel-cell prototype [29] [30] 2015 - BMW 5 Series GT (F07) eDrive Hydrogen Fuel Cell [31] 2019 - BMW i Hydrogen NEXT [32] Chang'an: 2010 - Z-SHINE FCV ...
Nikola Corporation (formerly known as Nikola Motor Company) is an American manufacturer of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions. [2] It presented several concept vehicles from 2016 to 2020, the first of which was a natural gas fueled turbine-electric semi truck. [3]
In November 2019, Nikola Motor Company and Iveco presented the jointly developed Nikola Tre electric truck, with a power of 644 hp (480 kW), a maximum torque of 1,800 N⋅m (1,300 lbf⋅ft), a battery of 720 kWh and a range of up to 400 km (250 mi). It is developed on the basis of the Iveco S-Way.
The Nikola Tre battery electric Class 8 truck. The Phoenix-based company's stock prices soon began to plunge as doubts emerged about the viability of its technology.
Over 20 other FCEV prototypes and demonstration cars were released in that time period, [39] including the GM HydroGen4, [32] and Mercedes-Benz F-Cell. The Hyundai ix35 FCEV Fuel Cell vehicle was available for lease from 2014 to 2018, [40] when 54 units were leased. [41] In 2018, Hyundai introduced the Nexo. [42]