Nikola Corporation delivered a record 88 fuel cell electric trucks (FCEVs) in the third quarter of 2024, marking a 22% increase from the previous quarter.
Despite this achievement, the U.S. electric truck manufacturer posted a net loss of $199.78 million, an improvement compared to the $425.97 million loss reported in Q3 2023.
For the first nine months of 2024, Nikola’s losses amounted to $481 million, a significant reduction from the $711 million loss in the same period last year.
The company produced 83 vehicles and delivered 90 units in total during the quarter, with 88 of those being FCEVs. Nikola’s fuel cell truck deliveries have surged, with year-to-date sales up by 78%, and the hydrogen fuel dispensed at its commercial stations increasing by nearly 350%.
“We had record sales of hydrogen fuel cell electric trucks, a 78% increase in FCEV fleet adoption, and a nearly 350% increase in hydrogen fuel dispensed at our commercial stations,” said Stephen Girsky, President and CEO of Nikola. The company aims to reach 300 to 350 FCEV deliveries by the end of the year.
Nikola also reported that it plans to deliver 10 HYLA fueling solutions by year-end. In addition to its hydrogen-focused offerings, the company continues to supply battery-electric trucks.
However, after recalling all 209 of its BEV models in August 2023 due to fires caused by coolant circuit leaks, 78 units have returned to service. These 78 vehicles have now accumulated over 715,000 in-service miles across 19 fleets since their reactivation.
