Nikola Surpasses Expectations for Q1 Hydrogen Truck Deliveries
Nikola Exceeds Q1 Delivery Estimates
Nikola surpassed estimates for deliveries of its hydrogen big rigs in the first quarter, a sign it was making progress in its pivot to the technology from battery electric trucks after some missteps that battered its share price.
Strong Delivery Performance
The electric truck maker said on Thursday it has delivered 40 vehicles in the first quarter, compared with the 30 units estimated by a consensus of four analysts polled by Visible Alpha.
Market Impact and Challenges
The upbeat delivery figures come at a time when the EV industry is facing challenges from waning demand as high interest rates to curb inflation pressure consumers' spending budgets, compelling them to opt for cheaper hybrid vehicles.
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