Nikola Corp

nikolamotor.com

What Do They Do?

Sells battery-electric and hydrogen fuel-cell trucks for trucking fleets and develops hydrogen fueling infrastructure for truck owners and other customers.

Who Are Their Customers?

Truck sales have historically gone to dealers. Nikola also engaged fleets through its dealer network and direct meetings with them.

Do Revenues Turn Into Profits?

No. It lost $958.2M in FY2024.

Operating income, FY2024

−1331% of revenue

▲ +41% (Loss) vs FY2023 (−$649.8M, −1813%)

Net income, FY2024

−1392% of revenue

▼ −1% (Loss) vs FY2023 (−$966.3M, −2696%)

Free cash flow, FY2024

−826% of revenue

▼ −8% (Loss) vs FY2023 (−$616.7M, −1721%)

Who Do They Compete With?

Competes with Daimler, Volvo, Tesla, BYD, Paccar, XOS, Lion, Hyundai, and Toyota

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