Second Chance For Nikola? Electric Trucks Return To Customers After Fire Recalls With New Features
Electric truck manufacturer Nikola Corp. has announced the return of its battery-electric trucks after halting deliveries last year due to fire incidents. The company plans to start returning the recalled vehicles to customers with new battery packs by the end of the first quarter. The upgraded vehicles, known as "BEV 2.0," will have improved features and may be lighter. Nikola aims to deliver at least 100 battery-electric trucks this year. Nikola shares closed 14.4% higher at $1.04 on Thursday.
Electric truck manufacturer Nikola Corp. (NASDAQ:NKLA) teased the return of its battery-electric trucks on Thursday, following a halt last year due to multiple fire incidents.
The company took to its official X account on Thursday to share a picture of its hydrogen fuel cell electric truck towing one of its battery-electric trucks to California.
“Next stop – California! Our battery-electric truck is returning to duty as BEV 2.0, heading on a zero-emissions journey provided by the Nikola hydrogen fuel cell electric truck,” Nikola wrote in its post.
Next stop – California! Our battery-electric truck is returning to duty as BEV 2.0, heading on a zero-emissions journey provided by the Nikola hydrogen fuel cell electric truck.
— Nikola Corporation (@nikolamotor) March 29, 2024
One truck, two powertrain options. Learn more about us here: https://t.co/Pm0hoyCDs0#FollowNone #NKLA pic.twitter.com/m0iszQUeF2
Nikola initially began delivering battery electric trucks before its hydrogen fuel cell electric trucks. However, following a few fire incidents, the trucks were subsequently recalled in August.
In February, Nikola CEO Steve Girsky stated that the company would restart deliveries of its BEV trucks in the late third quarter or early fourth quarter of 2024 after returning the recalled trucks to customers. The company expects to start returning the recalled vehicles to customers with new battery packs by the end of the first quarter. All the recalled vehicles are projected to be returned by the end of Q2 or early Q3.
These upgraded vehicles, referred to as “BEV 2.0,” will feature improved battery packs, scheduled departure charging, an updated instrument display, and a more user-friendly mobile app, the company announced. Additionally, they may also be lighter, thereby improving payload capacity.
The company is looking to deliver at least 100 battery-electric trucks this year.
Price Action: Nikola shares closed 14.4% higher at $1.04 on Thursday. The stock is up 25.3% year-to-date, according to Benzinga Pro.
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Photo courtesy: Nikola