EV Maker Nikola Beats Revenue Estimates On Higher Deliveries
1 mins read
Published on December 1, 2022
Nikola Corp exceeded market estimates for quarterly revenue on Thursday as the electric-vehicle maker delivered more semi trucks after a production ramp-up, sending its shares 6% higher in trading before the bell.
The company produced 50 Tre battery electric vehicles at its facility in Coolidge, Arizona, in the April-June quarter and delivered 48 units to dealers.
Nikola said it was on track to reach its 2022 delivery target of between 300 and 500 Tre BEV semi trucks..
Revenue was $18.1 million in the second quarter, compared with the $16.5 million expected by analysts, according to IBES data from Refinitiv.
The company's net loss widened to $173 million, from a loss of $143.2 million a year earlier.
Electric-vehicle companies have been grappling with higher costs this year as the Russia-Ukraine war and rising inflation drive up prices of battery materials and other components.
Great Deals on Used CarsView All Used Cars
- 66,264 km
- 49,360 km
- 2,322 km
- 42,000 km
- 74,440 km
- 50,561 km
- 50,000 km
- 67,000 km
- 57,000 km
- 25,000 km
-16751 second ago
The latest iteration gets a slew of updated features and mechanical upgrades.
-10135 second ago
The brand is offering free service support through its dealer network in Chennai and other affected areas.
-7341 second ago
Toyota and its dealer partners have set up a special emergency helpline number and have a deployed the Hilux pickup for rescue and movement of submerged vehicles
49 minutes ago
Starting from December 8, 2023 customers affected by the flash floods can avail free RSA, engine check-ups and other service benefits at the Yamaha service centers
1 hour ago
MG Motor India has introduced a December Fest sale with sizable benefits across its lineup with offers valid until December 31
1 hour ago
Ducati said that the price increase was due to a rise in operational costs and will affect select motorcycles on sale
3 hours ago
The Q6 e-Tron will boast an 800-volt electrical system, a 100 kWh battery offering a range of 373 miles, and dual electric motors generating up to 510 horsepower
19 hours ago
The made-in-India sport bike is powered by a 457 cc parallel-twin engine that puts out a peak 47 bhp.
19 hours ago
The new Triumph Bonneville Stealth Editions come with special hand-painted colours that change hues depending on the light
21 hours ago
The W175 Street gets alloy wheels and tubeless tyres, aside from new paint finishes
5 days ago
Hyundai has presented the Ioniq 5 to Shah Rukh Khan to commemorate the 25-year-long association with the brand. It will be the first electric vehicle in his car collection.
7 days ago
Tesla Motors has begun deliveries of the Cybertruck in USA. Currently, there are two models on sale, an AWD variant and the top-spec model, which is dubbed ‘Cyberbeast’.
8 days ago
This collaboration's initial phase involved delivering 20 BYD e6 vehicles, flagged off in Bengaluru.
9 days ago
The RV400 is priced at Rs 1.39 lakh and is available for sale on Flipkart
13 days ago
The company has traversed over 300 million clean kilometers that prevented over 23,000 tonnes of CO2 gas emissions