Nikola Motor to refund reservation money for hydrogen truck and no more deposit required for future orders

“We are very pleased to announce that we have received an additional order from Nikola related to this electrolyzer and fueling alternative to their own trucks. The order marks a strengthening of the venture and is a recognition of the level of competence our team and hydrogen solutions can provide. We look forward to providing the demonstration channels, which will lay the groundwork for the planet’s biggest, most efficient network of low-cost hydrogen production and fueling sites,” explained Jon André Løkke, CEO of Nel.
On March 31, Nikola teased a massive order from a significant brand “to substitute their entire fleet with all Nikola hydrogen electric trucks” on Twitter. The business noted it could be installed to 28 hydrogen gas stations along the company’s paths as part of their deal. An announcement could come by the first week of May, it said.

Hinting that it’s got a massive contract with “among its most recognized and valuable brands in the entire world,” Nikola Motor Company announced last week that it will be virtually all monies paid as part of a booking to receive a more Nikola One hydrogen-electric truck.
“You are now able to book a Nikola Two or One without any deposit in With more than 8 billion in pre-order bookings, who desires deposits!” It stated in a tweet.

Just days after that tweet came a statement from Nel Hydrogen of a $5.5 million purchase order from Nikola Motor. Nel explains itself as “a global, committed hydrogen firm, delivering best solutions to create, distribute and store hydrogen from renewable energy”
On Nov. 15, 2017, Nikola and Nel announced the exclusive partnership and a purchase order for two so-called demo hydrogen ion channels for Nikola’s fleet of prototype hydrogen trucks. The partnership aims at creating cheap, renewable hydrogen production and fueling sites for the possible development of 14 large-scale sites, nevertheless, Nikola and Nel are currently assessing if the first station number ought to be dropped to 28 channels.
“The Nikola hydrogen electric semi-trucks will begin experimenting with fleets in 2019 and start full production in 2021. One of the most respected brands in the usa simply signed an order together with Nikola to convert 100% of their fleet around to Nikola trucks. This may need an extra 28 more channels to go up to encourage those efforts on top of the existing Nel purchase order. Nel has been a great partner to use and we’re excited to start substituting diesels in America with zero emission trucks. The future for zero emission trucks hasn’t been more economical,” said Trevor Milton, CEO of Nikola.

“All bookings will be refunded 100% and you won’t lose your place on the basis of We don’t use your cash to operate our business. We need everyone to know we have never utilized a buck of deposit money in the history of our company. All deposits will be reimbursed < 60 days,” the company wrote in Twitter last week, just weeks after a teasing tweet regarding a large purchase.

It is unclear how many customers placed deposits for a vehicle, however, Nikola has been touting a massive amount in bookings.