Did GM and Land Rover Just Reinforce Nikola's Business Strategy?
Hydrogen- and battery-electric vehicle start-up Nikola (NASDAQ: NKLA) has had a troubling past year. After a short-seller called out the company last fall for exaggerating its progress and technology in developing electric semi trucks; its executive chairman was forced to resign and the company admitted some culpability.
Fast-forward six months and Nikola is still far from a proven success, but it seems to have taken concrete steps toward its goals. While a battery electric vehicle (BEV) is expected to be its first commercial product, the longer-term goals include hydrogen fuel cell electric vehicles (FCEVs) and associated hydrogen fueling infrastructure. Now two large automakers have announced they also plan to utilize hydrogen power for electric vehicle transportation.
Nikola Tre battery electric semi truck. Image source: Nikola.
Source Fool.com
