Nikola Corp, US electric truck manufacturer, is evaluating options to build its own battery pack by 2024, Chief Financial Officer Kim Brady said Thursday.
“If in-sourcing opportunity is available to us, and if we decide to explore that, that will likely be in 2024,” Brady said
Brady says manufacturing battery packs yourself can increase volumes and reduce production costs, Nikola may have to explore those options.
See also: Everything You should know about Nikola Tre electric truck
Nikola is currently using battery packs from LG Energy Solution, while the company signed a supply deal with Proterra In in January.
Brady said that his company aims to produce 300 to 500 electric trucks this year. But as with other electric vehicle manufacturers, supply chain disruptions remain a concern.
To minimize supply chain problems, Nikola aims to localize his spare parts source as much as possible to North America. Brady said that currently most of Nikola’s parts come from Europe.
