RE: Nikola Corp - Their own update9 Nov 2020 23:37
An interview from Benzinga market watch who spoke with Nikola President and CEO Mark Russell this week about the young startup’s ambitious hydrogen network plan, foreign markets and his thoughts on the IPO 5 months ago.
Todays Nikola Corp update is still on time for release in the next 2 months. Interesting example of chicken & egg and going for an intergrated model inc NEL !
"The company is focused on a "problem for mankind," Russell said in the interview: the changing climate.
The company has purchased 85-megawatt alkaline electrolyzers from Oslo-based hydrogen company Nel ASA (OTCMKTS: NLLSF) to build five fueling stations capable of churning out over 40,000 kgs of hydrogen daily.
This investment will let Nikola begin work on hydrogen fueling stations capable of fueling between 400 to 2,000 trucks per day based on station size.
Benzinga: What makes you confident that you can validate your hydrogen network proposition to convince other players to join the campaign? Where will you begin to prove your vision of long-ranged hydrogen travel?
Russell: The story has been a chicken-and-egg problem. You want to build hydrogen vehicles, but there is no place to fuel them. You might want to build a hydrogen station, but nobody is going to come there to fuel because there are no vehicles.
When we went to look for customers and said, "we can provide you with the truck, the fuel, and the maintenance, the whole solution, you just provide the driver and the load, and we will do it at a price that is equal to your current diesel cost," they said "sold."
It was really easy to sell this vertical integration. In fact, we sold out really fast in terms of reservations."
2 GREAT bits of news for NEL today. Nikola will soon release news on the hydrogen stations, locations and timelines @@ watch this sp , I mean space , teehee
GLOBAL company. Australia news soon to.