Nikola Stock (NKLA) beat fourth-quarter estimates & announced development on key generation goals, while Fisker (FSR) reported demand which is solid need for its EV. Nikola stock and Fisker inventory rose late.
Nikola Stock Earnings
Estimates: Analysts anticipate a loss of 23 cents a share on nominal revenue. Thus far, Nikola's modest product sales have come from solar installations and not coming from electric vehicles.
According to FintechZoom, Nikola posted a 17 cent loss each share on zero earnings. Inside Q4, Nikola made "significant progress" at the Ulm of its, Germany plant, with trial generation of the Tre semi truck set to begin in June. In addition, it reported success at its Coolidge, Ariz. site, which will begin producing the Tre later on within the third quarter. Nikola has completed the assembly of the first five Nikola Tre prototypes. It affirmed a target to deliver the original Nikola Tre semis to customers in Q4.
Nikola's lineup includes battery-electric and hydrogen fuel-cell semi-trucks. It is targeting a launch of the battery electric Nikola Tre, with 300 miles of range, in Q4. A fuel cell variant of the Tre, with longer range as many as 500 miles, is actually set to follow in the 2nd half of 2023. The company also is focusing on the launch of a fuel-cell semi truck, considered the Two, with up to nine hundred miles of range, within late 2024.
The Tre EV will be at first manufactured in a factory in Ulm, Germany and sooner or later inside Coolidge, Ariz. Nikola set a target to significantly do the German plant by end of 2020 and to finish the first phase with the Arizona plant's building by end of 2021.
But plans to create an electrical pickup truck suffered a major blow in November, when General Motors (GM) ditched blueprints to bring an equity stake of Nikola as well as to help it construct the Badger. Actually, it agreed to supply fuel cells for Nikola's commercial semi trucks.
Stock: Shares rose 3.7 % late Thursday after closing lower 6.8 % to 19.72 in consistent stock market trading. Nikola stock closed again below the 50-day model, cotinuing to trend smaller right after a drumbeat of bad news.
Chinese EV maker Li Auto (LI), that reported a surprise benefit early on Thursday, fell 9.8 %. Tesla (TSLA) slumped 8.1 % after it halted Model three generation amid the worldwide chip shortage. Electrical powertrain maker Hyliion (HYLN), that claimed steep losses Tuesday, sold off of 7.5 %.
Nikola Stock (NKLA) conquer fourth-quarter estimates and announced progress on key production