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June 24th, 2016 at 10:45 am

Electric truck maker Nikola raises $2.3 billion in first month

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Nikola Motor Company is an American manufacturer that wants to build electric semis. They recently announced that they raised $2.3 billion in the first month since they opened their pre-sales.

The company will unveil its first electric truck prototype on December 2, 2016, in Salt Lake City, but has over 7,000 reservations for the production model.

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They announced the intention to launch such a vehicle last month. The model is classified as an electric class 8 semi-truck, and it is called the Nikola One.

Instead of diesel or gasoline, the truck uses compressed natural gas (CNG). However, it is not a hybrid, as the CNG utilized by this vehicle does not go to a motor that is linked to the wheels.

The truck is powered by six electric motors, which are backed by a 320 kWh Lithium-Ion battery. The latter is charged by a range extending turbine, which will only operate when the battery pack requires it.

A major selling point of this semi is the leasing program, which will only cost between $4,000 to $5,000 per month, depending on chosen configuration and options.

The coolest part is that Nikola provides its customers with the first million miles of fuel included for every truck sale, a move which offsets 100% of the monthly lease for each owner. According to the truck maker, a diesel truck would have used around $400,000 in fuel for the same mileage, along with maintenance bills of over $100,000 for the distance, and Nikola includes those as well.

The company will continue its funding operation for the next five months, and will showcase the working prototype of the One truck in December. Nikola claims it expects to pass the current leaders of the truck business in the USA in the next 12 to 24 months. According to Nikola officials, some of the top dealerships specialized in class 8 semis have shown their interest in adding the brand to their offer.

Image Credit: Nikola
Article via autoevolution.com

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