Nikola Raises $100 million in Week One of $200-Million Funding Round
by John O’Dell |August 08, 2018
Fuel cell truck developer Nikola Motor Co. said it had raised half its $200-million goal in its third round of funding and expects the effort to be over-subscribed.
Nikola founder Trevor Milton said the company raised “more than $100 million” in the first week since opening the investment round.
“We are a few months from putting the first trucks into fleet testing, we are legitimate. Most of the investors have been in to see us, they’ve seen the technology, they know it is real,” Milton told Trucks.com.
The company plans a public unveiling of its first production truck early next year. Nikola has shown prototypes of two Class 8 models, the Nikola One sleeper and Nikola Two day cab. Its business plan calls for it to lease the tractors in a package that includes access to a Nikola-built network of hydrogen fueling stations.
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