Nikola Badger open for reservations

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jhalkias

jhalkias

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timbop

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I'm a little bummed, though. I was working with him and a lady I know from Stanford on a portable blood testing van that only needs a tiny little droplet from your finger to diagnose 10k possible conditions in just 5 minutes.
 

TheSteelRider

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I'm a little bummed, though. I was working with him and a lady I know from Stanford on a portable blood testing van that only needs a tiny little droplet from your finger to diagnose 10k possible conditions in just 5 minutes.
Don't forget, there is a CEO of "another car company" that has promised: Full autonomous Self Driving by end of this year(2020), a settlement on Mars by 2018 (then, 2020, now 2024), ability to bore a tunnel for cars at 1/10 the cost of companies whose only job is to bore tunnels, a transportation company that uses rockets to get you anywhere on the planet for less than the cost of a plane ticket. I could probably go on ... but I think you get the point :)
 

GoGoGadgetMachE

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Don't forget, there is a CEO of "another car company" that has promised: Full autonomous Self Driving by end of this year(2020), a settlement on Mars by 2018 (then, 2020, now 2024), ability to bore a tunnel for cars at 1/10 the cost of companies whose only job is to bore tunnels, a transportation company that uses rockets to get you anywhere on the planet for less than the cost of a plane ticket. I could probably go on ... but I think you get the point :)
you forgot the stock split that everyone believes happened to make the stock very temporarily $420 because heh heh heh
 

ChasingCoral

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from https://www.greencarreports.com/new...-pickup-debut-event-canceled-as-gm-deal-hangs

Nikola Badger electric pickup debut event canceled, as GM deal hangs
avatar-image-for-stephed_100440631_s.jpg

STEPHEN EDELSTEIN OCTOBER 2, 2020


With a potential deal with General Motors hanging in limbo, Nikola Motors announced Wednesday that it had canceled the reveal event for its Badger electric pickup truck.
The event, dubbed Nikola World, was to be held in Arizona in December. It was called off due to coronavirus-related restrictions on large in-person gatherings at venues in the state, a Nikola press release said. The company plans to reschedule, and said it will hold or refund tickets, depending on holders' preferences.

The Badger was first shown to the public as a series of sketches meant to troll Tesla CEO Elon Musk shortly after the Cybertruck unveiling in November 2019. Nikola confirmed plans to sell the truck in February, and began taking reservations, but hasn't even shown a prototype version yet. The company previously said production would start in 2022.

Nikola previously quoted a 600-mile range for the Badger, which will have both a battery pack and hydrogen fuel-cell stack. The battery pack is expected to be the primary energy source, with fuel cells used for longer trips, and supplied with hydrogen from a network of stations Nikola plans to build for its semi trucks.

GM and Nikola announced a deal September 8 that would see GM manufacture the Badger for Nikola, and provide batteries and fuel cells for the startup's other projects. GM would also take an 11% stake in Nikola—worth about $2 billion when the deal was announced—and get up to $700 million for building the Badger.

GM has said the deal could yield $4 billion from Nikola shares, supply contracts, and EV credits. Nikola said it expected to save $5 billion in engineering costs over 10 years.

But while the deal was supposed to have closed September 30, but both companies confirmed to Reuters this week that discussions were still ongoing. On Thursday, Bloomberg reported that GM could potentially end up with an even larger share of Nikola.

Two days after the deal was announced, short-seller Hindenburg Research released a report saying it believed Nikola had made fraudulent claims about its technology. This prompted Department of Justice and Securities and Exchange Commission probes, while CEO Trevor Milton stepped down September 21.

Nikola claimed earlier in the year to be a fuel cell leader, but it apparently would be relying on other companies—such as GM and Bosch—to be that leader.

In a press release discussing the current state of its business, the company described itself as an original equipment manufacturer (OEM), but also noted that it "works with business partners and suppliers to manufacture a majority of the vehicle components."

The company did break ground on a one-million-square-foot factory in Coolidge, Arizona, earlier this year. Nikola still plans to complete the first phase of construction in 2021, completely finish the factory by mid-2023. At full capacity, the factory will have capacity for 35,000 Class 8 semi trucks annually, according to Nikola.

However, the first trucks will come from a joint-venture factory in Ulm, Germany, run in partnership with Iveco. The first five prototype battery-electric Tre trucks should be completed within the next few weeks, Nikola said. The first prototype hydrogen fuel-cell trucks are scheduled to begin testing in 2021.
 

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from https://www.greencarreports.com/new...-pickup-debut-event-canceled-as-gm-deal-hangs

Nikola Badger electric pickup debut event canceled, as GM deal hangs
avatar-image-for-stephed_100440631_s.jpg

STEPHEN EDELSTEIN OCTOBER 2, 2020


With a potential deal with General Motors hanging in limbo, Nikola Motors announced Wednesday that it had canceled the reveal event for its Badger electric pickup truck.
The event, dubbed Nikola World, was to be held in Arizona in December. It was called off due to coronavirus-related restrictions on large in-person gatherings at venues in the state, a Nikola press release said. The company plans to reschedule, and said it will hold or refund tickets, depending on holders' preferences.

The Badger was first shown to the public as a series of sketches meant to troll Tesla CEO Elon Musk shortly after the Cybertruck unveiling in November 2019. Nikola confirmed plans to sell the truck in February, and began taking reservations, but hasn't even shown a prototype version yet. The company previously said production would start in 2022.

Nikola previously quoted a 600-mile range for the Badger, which will have both a battery pack and hydrogen fuel-cell stack. The battery pack is expected to be the primary energy source, with fuel cells used for longer trips, and supplied with hydrogen from a network of stations Nikola plans to build for its semi trucks.

GM and Nikola announced a deal September 8 that would see GM manufacture the Badger for Nikola, and provide batteries and fuel cells for the startup's other projects. GM would also take an 11% stake in Nikola—worth about $2 billion when the deal was announced—and get up to $700 million for building the Badger.

GM has said the deal could yield $4 billion from Nikola shares, supply contracts, and EV credits. Nikola said it expected to save $5 billion in engineering costs over 10 years.

But while the deal was supposed to have closed September 30, but both companies confirmed to Reuters this week that discussions were still ongoing. On Thursday, Bloomberg reported that GM could potentially end up with an even larger share of Nikola.

Two days after the deal was announced, short-seller Hindenburg Research released a report saying it believed Nikola had made fraudulent claims about its technology. This prompted Department of Justice and Securities and Exchange Commission probes, while CEO Trevor Milton stepped down September 21.

Nikola claimed earlier in the year to be a fuel cell leader, but it apparently would be relying on other companies—such as GM and Bosch—to be that leader.

In a press release discussing the current state of its business, the company described itself as an original equipment manufacturer (OEM), but also noted that it "works with business partners and suppliers to manufacture a majority of the vehicle components."

The company did break ground on a one-million-square-foot factory in Coolidge, Arizona, earlier this year. Nikola still plans to complete the first phase of construction in 2021, completely finish the factory by mid-2023. At full capacity, the factory will have capacity for 35,000 Class 8 semi trucks annually, according to Nikola.

However, the first trucks will come from a joint-venture factory in Ulm, Germany, run in partnership with Iveco. The first five prototype battery-electric Tre trucks should be completed within the next few weeks, Nikola said. The first prototype hydrogen fuel-cell trucks are scheduled to begin testing in 2021.
In other news, Nikola reports its new Badger pickup will do 0-60 in 9 seconds when towed behind a Cybertruck.
 

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https://arstechnica.com/tech-policy...unges-as-company-cancels-badger-pickup-truck/




Never mind —
Nikola stock plunges as company cancels Badger pickup truck
GM will supply hydrogen fuel cells for Nikola’s semis, but that’s it.
Timothy B. Lee - Today at undefined

nikola-truck-dissolving-800x450.jpg

Enlarge / The front half of the Nikola Badger.
Aurich Lawson / Nikola Motor Corporation
69 with 56 posters participating, including story author

Things keep going downhill for aspiring hydrogen truck-maker Nikola.
Further Reading
Nikola admits prototype was rolling downhill in promotional video
Nikola's stock plunged on Monday morning as the company announced that a previously announced deal with General Motors was not going to close. Instead, the two companies signed a "non-binding memorandum of understanding" related to the use of GM's hydrogen fuel cell technology in Nikola's future semi trucks. GM will not take a stake in Nikola as originally planned.
Nikola's stock is down 26 percent as I write this on Monday morning. The stock is down 58 percent since September 8, the day Nikola originally announced the GM deal.
No more Badger
The news means that Nikola is canceling the Badger, a planned pickup truck that critics have long derided as vaporware. Under Nikola's September deal with GM, GM was supposed to design and build the Badger on a cost-plus basis.
The deal would have enabled Nikola to sell a pickup truck it didn't otherwise have the capacity to manufacture. But it was hard to see how Nikola was going to make a profit selling what would have essentially been a re-badged GM product.
Moreover, it wasn't clear that Nikola had enough cash to finance the development of the Badger alongside the company's semi trucks and a planned network of hydrogen fueling stations. With the hype around Nikola cooling, Nikola may not be able to raise the necessarily cash from Wall Street.

The GM deal was negotiated under Nikola founder Trevor Milton. But Milton was forced to step down as Nikola's executive chairman in mid-September. That was when news broke that Nikola's first semi truck, the Nikola One, had never been functional—despite Milton's claims to the contrary. A promotional video of the truck "in motion" actually featured the vehicle rolling down a long, shallow hill.
Since Milton's departure, Nikola CEO Mark Russell has downplayed the Badger project. In October, he described the Badger as an "interesting and exciting project" but not part of Nikola's "core business plan." But while Russell downplayed the Badger, many of Nikola's retail investors seemed to have their heart set on Nikola closing the GM deal. When confused investors mistook a month-old GM webpage for an announcement that the deal had closed earlier this month, Nikola's stock soared 15 percent.
Further Reading
GM has no reason to back out of its one-sided deal with Nikola
Now we know that the original GM deal—and the Badger truck—aren't going to happen. Nikola says that it will refund customers who put down a deposit for the Badger.
It's not clear whether the dissolution of the deal was driven more by Nikola or by GM. We argued in September that the deal was heavily tilted in GM's favor, with Nikola putting up hundreds of millions of dollars to gain access to GM's technology and know-how. GM wasn't going to put any cash into Nikola.
However, a deal may have conferred some legitimacy on Nikola and risked reputational damage to GM if Nikola ultimately failed—especially after the Nikola One shenanigans came to light.
"Heavy trucks remain our core business and we are 100% focused on hitting our development milestones to bring clean hydrogen and battery-electric commercial trucks to market," Russell said in a Monday press release.
 

tex

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https://arstechnica.com/tech-policy...unges-as-company-cancels-badger-pickup-truck/




Never mind —
Nikola stock plunges as company cancels Badger pickup truck
GM will supply hydrogen fuel cells for Nikola’s semis, but that’s it.
Timothy B. Lee - Today at undefined

nikola-truck-dissolving-800x450.jpg

Enlarge / The front half of the Nikola Badger.
Aurich Lawson / Nikola Motor Corporation
69 with 56 posters participating, including story author

Things keep going downhill for aspiring hydrogen truck-maker Nikola.
Further Reading
Nikola admits prototype was rolling downhill in promotional video
Nikola's stock plunged on Monday morning as the company announced that a previously announced deal with General Motors was not going to close. Instead, the two companies signed a "non-binding memorandum of understanding" related to the use of GM's hydrogen fuel cell technology in Nikola's future semi trucks. GM will not take a stake in Nikola as originally planned.
Nikola's stock is down 26 percent as I write this on Monday morning. The stock is down 58 percent since September 8, the day Nikola originally announced the GM deal.
No more Badger
The news means that Nikola is canceling the Badger, a planned pickup truck that critics have long derided as vaporware. Under Nikola's September deal with GM, GM was supposed to design and build the Badger on a cost-plus basis.
The deal would have enabled Nikola to sell a pickup truck it didn't otherwise have the capacity to manufacture. But it was hard to see how Nikola was going to make a profit selling what would have essentially been a re-badged GM product.
Moreover, it wasn't clear that Nikola had enough cash to finance the development of the Badger alongside the company's semi trucks and a planned network of hydrogen fueling stations. With the hype around Nikola cooling, Nikola may not be able to raise the necessarily cash from Wall Street.

The GM deal was negotiated under Nikola founder Trevor Milton. But Milton was forced to step down as Nikola's executive chairman in mid-September. That was when news broke that Nikola's first semi truck, the Nikola One, had never been functional—despite Milton's claims to the contrary. A promotional video of the truck "in motion" actually featured the vehicle rolling down a long, shallow hill.
Since Milton's departure, Nikola CEO Mark Russell has downplayed the Badger project. In October, he described the Badger as an "interesting and exciting project" but not part of Nikola's "core business plan." But while Russell downplayed the Badger, many of Nikola's retail investors seemed to have their heart set on Nikola closing the GM deal. When confused investors mistook a month-old GM webpage for an announcement that the deal had closed earlier this month, Nikola's stock soared 15 percent.
Further Reading
GM has no reason to back out of its one-sided deal with Nikola
Now we know that the original GM deal—and the Badger truck—aren't going to happen. Nikola says that it will refund customers who put down a deposit for the Badger.
It's not clear whether the dissolution of the deal was driven more by Nikola or by GM. We argued in September that the deal was heavily tilted in GM's favor, with Nikola putting up hundreds of millions of dollars to gain access to GM's technology and know-how. GM wasn't going to put any cash into Nikola.
However, a deal may have conferred some legitimacy on Nikola and risked reputational damage to GM if Nikola ultimately failed—especially after the Nikola One shenanigans came to light.
"Heavy trucks remain our core business and we are 100% focused on hitting our development milestones to bring clean hydrogen and battery-electric commercial trucks to market," Russell said in a Monday press release.
Only thing Nikola delivering now is order refunds. Makes you wonder if the EV hype phase is coming to a crashing end. Amazing GM got pulled into it as far as they did.
 

EVer

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They supposedly have more cash on hand than debt. Depositors may be okay.
 
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