EV manufacturer Nikola announces Q2 2022 results.
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EV manufacturer Nikola announces Q2 2022 results.

Nikola reported $18.1 million in revenues on deliveries of 48 Tre BEVs in Q2 2022.

Heavy-duty commercial battery-electric vehicles manufacturer Nikola announced its Q2 2022 results. The company reported $18.1 million in revenues on deliveries of 48 Tre BEVs and four Mobile Charging Trailers (MCT) in Q2.

During the second quarter, Nikola produced 50 Nikola Tre BEVs and delivered 48 of those to dealers. It also continued pilot testing with several fleets to help facilitate additional orders and build the backlog.

In the second quarter, the company began Tre FCEV alpha pilot testing with TTSI in Southern California. As of today, the trucks have accumulated over 3,800 miles. The company expects to begin FCEV pilot testing with Walmart in Southern California on August 22.

During the second quarter, Nikola began building the first Tre FCEV betas. The first batch of betas is scheduled to be complete by the end of August. Beta trucks incorporate learnings from the alpha trials and will be used for engineering and product development.

The company is ramping up production capacity in Coolidge, Arizona. We expect to increase our throughput to five units per shift by November this year. Phase 2 expansion is underway and on track to be completed by Q1 2023, the company said in a press release.

The company is on track to achieve the following milestones in 2022:

  • Deliver 300 to 500 production Tre BEV trucks
  • Successful FCEV alpha pilot testing with Anheuser-Busch and TTSI
  • Build, validate and test Tre FCEV beta trucks
  • Announce location, break ground, and commence construction of the first hydrogen production hub in Arizona
  • Announce two or more dispensing station partners in California

Mark Russell, CEO of Nikola, said: Our momentum continued during the second quarter as we began delivering production vehicles to dealers and recognizing revenue from the sale of our Nikola Tre BEVs. We are committed to executing on our second-half milestones.

Also Read: Fisker announces Q2 2022 results.

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