Nikola Corporation, the American BEV and FCEV automaker, recently shared its Q4 and full year results for 2022. While some of the numbers saw significant drops compared to Q3, the company has several accolades on its report card and even bigger plans for this coming year.
Despite the setbacks, Nikola’s progress in both its commercial vehicle business, Tre Fuel Cell EVs, and its energy business continues to harden. If the company executes its 2023 milestones laid out in its recent presentation, its overall upward trend for the year should continue.
One of the highlights of Nikola’s Q4 report was the partnership it entered with ChargePoint to resell its EV charging products. Additionally, the company relocated the battery manufacturing facility inherited from last year’s acquisition of Romeo Power to its main production facility in Arizona.
See also: Nikola secures parts supply for production of Tre electric trucks this year
On the commercial vehicle side, Nikola produced 133 Tre BEV trucks in Q4 2022, which is nearly double the number it produced a quarter prior. The company also used the final quarter of 2022 to improve the BEV trucks based on customer feedback, including an OTA update that increased range and added charging capabilities up to 350 kW.
Looking ahead to 2023, Nikola expects slower BEV production in Q1, with 30 to 50 deliveries, but it plans to expand BEV production overseas as part of its joint venture with Iveco Group. The company is also looking to get its hydrogen trucks into scaled production, bolstered by its newly launched HYLA energy business to refuel them.
While the company’s finances took a slight step back in Q4 2022, the progress of its various business ventures suggests that the increased losses may be justified. Overall, Nikola’s numbers were encouraging, and if the company can execute its plans for this year, it could continue on its upward trend.
Here is the company’s full milestone list for 2023:
- Complete the build of 10 gamma FCEVs by Q2 2023
- Realize approximately $105,000 in cost savings in battery modules and packs for each Tre BEV truck by Q4 2023
- Achieve final investment decision for Phoenix Hydrogen Hub by Q3 2023
- Announce at least two refueling station partners by June
- Deliver 250 – 350 Tre BEVs to dealers for the full year 2023
- Deliver 125 – 150 Tre FCEVs in Q4 2023
