Nikola Stock (NKLA) beat fourth quarter estimates and announced development on key generation goals, while Fisker (FSR) noted demand which is good demand for its EV. Nikola stock as well as Fisker stock rose late.
Nikola Stock Earnings
Estimates: Analysts anticipate a loss of 23 cents a share on nominal earnings. Thus much, Nikola's modest sales came by using solar energy installations and not coming from electric vehicles.
According to FintechZoom, Nikola posted a 17 cent loss each share on zero revenue. In 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. Additionally, it noted success at the Coolidge of its, Ariz. site, which will start producing the Tre later in the third quarter. Nikola has finished the assembly of the earliest five Nikola Tre prototypes. It affirmed a target to give the original Nikola Tre semis to people in Q4.
Nikola's lineup includes battery electric and hydrogen fuel-cell semi-trucks. It's focusing on a launch of the battery electric Nikola Tre, with 300 miles of range, within Q4. A fuel-cell model of the Tre, with longer range as many as 500 kilometers, is set following in the next half of 2023. The company also is targeting the launch of a fuel cell semi truck, called the Two, with up to 900 miles of range, inside late 2024.
The Tre EV will be at first made in a factory in Ulm, Germany and eventually in Coolidge, Ariz. Nikola specify a target to considerably finish the German plant by conclusion of 2020 and to finish the very first cycle belonging to the Arizona plant's construction by end of 2021.
But plans in order to build an electric pickup truck suffered a very bad blow of November, when General Motors (GM) ditched blueprints to carry an equity stake of Nikola as well as to help it construct the Badger. Actually, it agreed to provide fuel-cells for Nikola's business-related semi trucks.
Stock: Shares rose 3.7 % late Thursday soon after closing down 6.8 % to 19.72 in regular stock market trading. Nikola stock closed back under the 50-day model, cotinuing to trend lower after a drumbeat of news that is bad.
Chinese EV maker Li Auto (LI), which noted a surprise profit early Thursday, fell 9.8 %. Tesla (TSLA) slumped 8.1 % right after it halted Model three generation amid the worldwide chip shortage. Electric powertrain developer Hyliion (HYLN), which noted high losses Tuesday, sold off of 7.5 %.
Nikola Stock (NKLA) beat fourth quarter estimates & announced progress on critical production