Nikola plans Q3 FID for Phoenix hub despite continued losses

Truck manufacturer sets full-year margin guidance of between -75 and -95pc

Hydrogen and battery-electric truck manufacturer Nikola plans to take FID on its Phoenix Hydrogen Hub in Q3 this year, pending a Department of Energy loan and regulatory approval. However, the firm still anticipates continued losses going into 2023, setting full-year guidance for margins of between -75 and -95pc. Fuel-cell electric vehicle (FCEV) truck deliveries throughout the year are expected to range from a low case of 125 to a high case of 150. The firm expects to realise cost reductions from the acquisition of battery supplier Romeo Power—bringing battery-pack manufacturing in-house—as the year progresses. Partnerships Nikola recently signed a memorandum of understanding with Australia