H2 update | NIKOLA share doubles since low. P. Koziner opens up for more “acceleration of what you saw the last months”

Since the Hindenburg Report and the subsequent resignation of the charismatic Trevor Milton is NIKOLA Corp. (RAY: US6541101050) In the past it was more likely to be noticed by order cancellations and failed collaborations.

And the suffering of the shareholders seems to be drawing to a close. The share price of NIKOLA Corp. recovered strongly in the last few weeks from the low of USD 9.37 (on April 21st) to the high on June 8th. from 19.13 USD. Impressive rally – even if the share consolidated after soaring yesterday and closed at USD 17.51 ​​- healthy, overdue.

Today, Pablo Koziner, President Energy and Commercial at Nikola, is hoping for the good news to continue – accelerate!

In the official Twitter account of NIKOLA Corp. there is a video by the NIKOLA director that expresses exactly that: Nikola is working with a vision and a sense of urgency as we build on the recent announcements that exemplify the coming together of an entire industry. Watch how:“ LINK TO VIDEO.

He announces an acceleration of the news of the last few weeks: Further expansion of the H2 hydrogen infrastructure, further sales and service partners and preparation of H2 production through electricity supply contracts – Koziner is leaning far ahead here. And at the same time builds up expectations that he will only arouse with the certainty of “deliverability”. Trevor Milton’s failed policy of announcement should be a lesson here to only announce certain or relatively certain foreseeable progress.

Excitement and possible price impulses for the share can be expected in the next few weeks!

The price development of the fuel “hydrogen” is important for the market success of the fuel cell trucks favored by NIKOLA. And here there has been in the last few days as part of the ENERGY EARTH SHOT initiative of the US Secretary of Energy a powerful push, which should now be filled with life. As a reminder: It’s about that one kilogram of hydrogen in a decade at a price of one USD to manufacture.

This would make the fuel cell trucks from NIKOLA more competitive than many currently believe is possible in such a period of time. So far, a price of USD 2.00 per KG H2 has been considered a game changer. How the champagne corks must have popped at NIKOLA, Ballard, Bloom, Plug and others when the minister spoke of 1.00 USD in a decade!

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So far one spoke of 2.00 USD / KG

A well-known, critical milestone for the competitiveness of hydrogen costs of 2 USD / KG (which would already be an approx. 50% decrease from current market prices) represents the turning point for a sustainable hydrogen production industry. For this to be a reality, two must Objectives to be achieved: firstly, solar and wind energy prices need to be reduced to $ 20 / MWh, and secondly, investments in electrolysers should decrease by 30-50% if plants are built on an industrial scale. A higher effectiveness in the former goal will later lead to the latter being more easily achieved. And these targets should be achieved more quickly through the US government initiative! Because now the USD 2.00 limit would only be an intermediate step.

But NIKOLA also needs progress – because with the current burn rate you need the capital market!

The medium to long-term liquidity of NIKOLA is not covered by the current liquidity reserves. Although the liquid funds amounted to over 840 million USD at the end of 2020, new liquidity will probably be required by 2022 at the latest – through capital increases or bonds or possibly government grants as part of the “ENERGY EARTHSHOT” initiative. So NIKOLA needs a “satisfied capital market”. And he is satisfied with the fulfillment of plans / forecasts.

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Since the quarterly report there have been fixed and transparent schedules and checklists

„During the first quarter Nikola continued to deliver on our previously communicated milestones and execute on our business plan,” directed Mark Russell, Nikola’s Chief Executive Officer the quarterly report. “We have had continued success in commissioning and validating the Nikola Tre BEVs, and are nearing completion of both our Ulm, Germany and Coolidge, Arizona manufacturing facilities.” And then NIKOILA worked step by step through the open questions – without glamor and fuss, as under Trevor Milton. And that seems to have reached the shareholders and the capital market.

Progress in testing the first delivered Nikola Tre BEVs (e-model from Ulm, produced by Iveco)

Tests, modifications and improvements to the Tre BEV continued. As expected, delays have occurred in the current development cycle for some components, the effect of which on the schedule has been minimized. In close coordination between suppliers and NIKOLA. In Q1, the first series of 5 Tre BEVs was subjected to various tests in the USA.

By May 10th, 2021 NIKOLA expects the completion of the next series of this time 9 Tre BEV in Ulm at the joint production facility with IVECO. Currently (May 7th) 8 Tre BEVs of the series are finished, three already in Arizona. And by the end of May all 9 should be in Arizona for test purposes. So far there has been no specific confirmation of this – apart from test drives and successful trials of the Tre’s, the number of vehicles used is not specifically mentioned.

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Progress in the production facility at the IVECO plant in Ulm

All structural changes were completed as of Friday in the Ulm production site. The “assembly line” – the “automatic guided vehicle (AGV)” system should be ready in the next few weeks. And by the end of the month, the 14 workstations should be completed – start of series production, first in test mode should still be June 2021. On May 25th, 2021 again confirmed by NIKOLA: Meanwhile, in Ulm, Germany, building modifications to the Nikola/IVECO industrial complex are nearly complete and on schedule for trial production of the Nikola Tre BEVs in June 2021

Advances in Nikola’s Coolidge, Arizona manufacturing facility

In the first quarter of 2021, NIKOLA took further steps in the construction work – the foundation, walls and roof are completed. While the installation work is about to be completed, the installation of the production machines is already starting. As an experiment, the first vehicles are to be assembled in July – while construction phase 1 is nearing completion, including supply units and asphalting measures.

Nikola’s technicians are working in Ulm on the completion of the series 2 of the Tre BEV’s with and on the first Tre FCEV’s, so that they acquire the necessary knowledge to assemble the first Tre’s in July in Arizona, Coolidge.

According to management – as of May 7th, 2021, milestones to be achieved in 2021 are:

  • Start of series production in the test phase in June 2021 at IVECO’s plant in Ulm.
  • Start of the first assembly of Tre’s in the newly built NIKOLA plant in Coolidge, Arizona in July 2021.
  • Start of construction of the first commercial hydrogen filling station
  • Appointment of further partners for the development of the H2 infrastructure in the USA and possibly also in Europe.
  • Name other fleet operators who want to use Tre’s – analogous to Total Transport.
  • Delivery of the first Tre BEV to customers in Q4 / 2021

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