The once doddling Nikola semi factory build is now being aggressively pushed down hill, as it nears completion. It's a small facility, compared to a gigafactory, but looks like a nice facility to build the business.
I like Nikola as well. Nikola and Lucid Motors are both out in Arizona. Lucid Motors is complete junk IMO and I have actually done a walk-thru of their warehouse because I was interviewing for a Logistics position with them. Not really sure what Churchill Capital was thinking when they acquired them.
I am not touching any of the EV car manufacturers. I briefly held NKLA as I saw an opportunity to make a few sheckles but I wouldnt put any serious money into NKLA, Lucid (now under Churchill Capital), or even Rivian (although I admit I know very little to nothing about them). I dont see any way companies like Lucid, Nikola, or Rivian are able to compete with existing auto manufacturers like Ford, GM, and other major international players who already have the infrastructure and expertise to mass produce. And at least in my opinion, I would feel much better spending 100-150k$ on a Ford EV than some car company that has no record of success. I very briefly held position in Li (Li Auto, Chinese EV). But same applies in China. I do not see these little guys being able to compete.
I've been critical of Nikola for a few years. In light of this video from Sam Alexander, I haven't been critical enough. Holy cow!
They dont make anything except sign "agreements" with other companies to use their parts in putting together a truck that may or may not ever exist.
I think Nikola is a freaking scam. Look at how difficult it is for Tesla to make it in this industry. I think Nikola has zero shot.
Good point, valueinvesting.io. To be fair to Nikola, they are not in the same industry. Tesla is developing technology, platform, components, manufacturing tooling, automation, charging network, charging hardware, self driving, a mountain of software, and I'm sure they are building a kitchen sink, somewhere. Nikola plans to assemble a small number of trucks from parts. Nikola ought to have been able to construct a fairly large building in the desert and assemble 100 trucks with $12B of the capital they raised in 2020. It looks like they are down to about $600M which still ought to do the job. Nikola won't have a ton of robotics to buy and not nearly as much software to write. Given how little of the IPO money is left and how little Nikola has to show for the money that has vanished, I almost wonder if it would pay to research a company prior to buying.
Does anyone recall this claim of a battery breakthrough? It's still up on NikolaMotor.com. https://nikolamotor.com/press_relea...ttery-cell-technology-at-nikola-world-2020-67 ... and the new CEO of Nikola seemed to have some attitude with regard to how real their products are as he revealed a 300 mile semi. Who would have guessed Nikola would struggle to bring product to market, have a massive cell shortage, struggle to meet charging and range claims, and have trouble making money? How about everyone except a few straggling retail investors who are thought deniers, a bunch of analysts, and everyone in media.
Apparently, Nikola lawyers have stopped responding to requests from the court. They have until October 6 to re-open their case against Tesla. If Nikola had any business ethics at all, they would announce the suit was a sham by a previous, evil, CEO and they would both drop it and apologize. Would do wonders for their credibility as a viable business. Right now, it looks like the entire company is packed into a single clown car.
Nikola has done just enough to keep the suit alive. It's administratively closed but they have a bit of time to put together a technology tutorial. They have until January 13. This court action could kill Nikola. The executives who think it is a good idea to resource a nuisance suit against Tesla, instead of working on an actual product of some sort, ought to be sued themselves, once they kill the business.
Here is the link: https://www.fleetowner.com/emission...irst-tre-bev-to-total-transportation-services
Nikola has been fined 125M for Trevor Milton's defrauding of investors. NKLA $9.45 The stock remains flat.... lol!
poor nikola. may he rest in peace. his name will forever be associated with men of unscrupulous behavior .
