The electric truck manufacturer Nikola Corp NKLA has set its sights on delivering at least 100 battery-electric trucks in 2024 following the resolution of issues that led to several fire incidents last year.
The Setback: Nikola commenced deliveries of battery-electric trucks before proceeding with hydrogen fuel cell electric trucks. However, a series of fire incidents prompted a subsequent recall of the trucks in August.
Nikola’s CEO, Steve Girsky, disclosed on Thursday that the company plans to recommence deliveries of its BEV trucks in late third quarter or early fourth quarter of 2024, after addressing the reported issues and completing the recall process for the affected vehicles.
The company aims to initiate the return of the recalled vehicles to customers by the end of the first quarter, equipped with new battery packs. All affected vehicles will be rectified and returned by the end of Q2 or early Q3, according to the company’s statement.
These upgraded vehicles, dubbed “BEV 2.0,” will boast enhanced battery packs, scheduled departure charging, updated instrument display, and a more user-friendly mobile app. Moreover, they may also feature lighter construction, thereby enhancing payload capacity.
The Significance: Throughout last year, the company only manufactured a total of 38 trucks, significantly fewer than the 258 trucks produced in 2022. In the same period, it reported a total revenue of $35.8 million and a gross loss of $214.1 million, surpassing the $86 million gross loss reported for 2022.
Corporate Controller of the company, Brian De Hoog, attributed the increased gross loss last year to the electric truck recall.
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