NEWS COMMENTARY

Nikola Motor launches its seventh vehicle but hasn't delivered the first six

Published:
February 11, 2020
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Nikola has launched three semitrucks, two all-terrain vehicles, and a jet ski since its founding in 2014. However, a visit to its web site confirms that all of those products are still limited to reservations only, indicating it has not delivered any of its products outside of at least one truck to Anheuser-Busch. Nikola's rapid expansion of its product portfolio is a concerning distraction, as we've noted from the outset it would be very capital-intensive to build both trucks and refueling infrastructure. Clients are encouraged to ignore this announcement, as it is merely a rendering and slick marketing demonstration, while recognizing that the poor use of funding could impact the company's ability to meet timelines for its core products.

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