Zero-emission trucking company Nikola has shut down its so-called Powersport division and is halting work on an electric watercraft and off-road vehicle, first announced in April 2019. Nicola has ceased work on the projects. A major push to focus on getting your first hydrogen-powered truck out the door, After several stumbles in 2020.
“We still own NZT and WAV rights and have stopped the projects. A spokesperson said, we may consider moving forward with them later The Reporter Door. “Right now we are focusing on commercial trucking and hydrogen infrastructure.”
Nikola started chasing an electric watercraft in 2017 One of the more promising startups working on the idea. The off-road vehicle was a type of hybrid that combined dune buggy styling with the type of comfort found in passenger cars, like air conditioning. Nikola was promising a so-called NZT vehicle that would get 590 horsepower and a range of 150 miles. It was to hit the market this year at an initial price of $ 80,000.
Both Powersport vehicles were a major focus of Nikola’s annual event in 2019, but NZT in particular always seemed like a potential moneymaker for startups. Interest arises from defense industry.
The Powersports Division is not Nikola’s rocky first crash of 2020. The startup’s pickup truck project broke down after falling out with General Motors, who had been supporting Nicola before taking the flight, alleging fraud.
Nicola announced the death of its Powersport division with it on Thursday afternoon 2020 financial results. The company reported a loss of $ 384 million for the year, although it ended up with $ 840 million at the bank by 2020, thanks to the money it went public earlier in the year.