# Nikola Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nikola

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Phoenix, US
- Website: www.nikolamotor.com
- Total disclosed funding: $480M
- Latest round: Series D (Sep 3, 2019)
- Investors on record: 3

## About

Nikola Corporation, based in Phoenix, Arizona, specializes in designing and manufacturing hydrogen fuel cell and battery electric trucks for the commercial transportation sector.Founded in 2014, Nikola Corporation focuses on revolutionizing the transportation industry with hydrogen electric and battery electric vehicles. The company has undergone changes in business strategy but has maintained its core mission of sustainable transportation. Nikola Corporation is headquartered in Phoenix, Arizona, and is led by CEO Stephen Girsky. To date, Nikola has raised a total of USD 66.50 mn, with its most recent funding round being a Grant of USD 41.90 mn in March 2023.Nikola Corporation specializes in the development and manufacturing of hydrogen electric and battery electric trucks. Their core product offerings include hydrogen fuel cell electric vehicles (FCEVs) and battery electric vehicles (BEVs), designed specifically for long-distance commercial transportation. The hydrogen fuel cell trucks can achieve ranges of up to 500 miles, while the battery electric trucks can cover distances of up to 300 miles. These vehicles are engineered to address sustainable transportation challenges, aiming to reduce emissions across logistics and freight sectors. Nikola targets logistics companies, fleet operators, and commercial transportation businesses in North America and Europe, where demand for zero-emissions vehicles is rapidly increasing.In the most recent year, 2023, Nikola Corporation reported revenue of USD 35.84 mn, with an EBITDA of USD -613.94 mn. The company's revenue primarily stems from the sale of hydrogen and battery electric trucks, coupled with supplementary services related to vehicle operation and maintenance. Nikola engages in B2B transactions, selling directly to fleet operators and logistics companies while also exploring partnerships for hydrogen infrastructure development through its HYLA brand.In March 2023, Nikola Corporation raised USD 33.50 mn in a private placement, selling 29.91 million shares at USD 1.12 per share on the NASDAQ. This funding will be utilized to accelerate production, launch its manufacturing facility in Coolidge, Arizona, and begin the rollout of its hydrogen station infrastructure. The company is focused on introducing new products aimed at enhancing its electric truck offerings, while also targeting expansions into new geographic markets in North America and Europe by 2025.

## Funding rounds

- Series D, Sep 3, 2019, $480M — Robert Bosch, Hanwha Asset Management, CNH Industrial N.V.

## Investors

- Robert Bosch — Series D
- Hanwha Asset Management (https://capitalatlas.ai/funds/hanwha-asset-management) — Series D
- CNH Industrial N.V. — Series D