Electric truck manufacturer Nikola Corp NKLA on Thursday said that the company is eyeing deliveries of at least 100 battery-electric trucks this year after fixing issues that led to multiple fire incidents last year.
What Happened: Nikola started delivering battery electric trucks before it started delivering its hydrogen fuel cell electric trucks. However, following a few fire incidents, the trucks were subsequently recalled in August.
Nikola CEO Steve Girsky on Thursday said that the company will restart deliveries of its BEV trucks in the late third quarter or early fourth quarter of 2024 after it returns the trucks it has already recalled to customers.
The company expects to start returning the recalled vehicles to customers with new battery packs by the end of the first quarter. The company said that all the recalled vehicles would be returned by the end of Q2 or early Q3.
These upgraded vehicles, dubbed "BEV 2.0," will feature improved battery packs, scheduled departure charging, updated instrument display, and a more user-friendly mobile app, the company said, while adding that it may also be lighter, thereby improving payload capacity.
Why It Matters: For the whole of last year, the company produced a total of 138 trucks, less than the 258 it made in 2022. It reported a total revenue of $35.8 million for the period and a gross loss of $214.1 million, higher than the $86 million it reported for 2022.
Gross loss was higher last year due to the electric truck recall, company Corporate Controller Brian De Hoog said.
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