Nikola to deliver 300-500 electric trucks in 2022

(Reuters) -Nikola Corp said on Thursday it aimed to deliver 300 to 500 Tre BEV electric trucks this year, as it works on expanding its plant in Coolidge, Arizona.

The company, which has yet to report any revenue from truck sales, delivered its first two electric trucks in December to a southern Californian port trucking company TTSI as part of a three-month pilot program.

“During the fourth quarter, we began delivering Pre-Series Tre BEVs to customers and dealers, and we are ramping up production in Coolidge,” Nikola Chief Executive Officer Mark Russell said in the company’s quarterly report.

“We anticipate beginning series production of the Tre BEV on March 21.”

Nikola, which was working with the U.S. Securities and Exchange Commission (SEC) to pay a $125 million penalty to settle a charge against its founder Trevor Milton, said it had made its first installment last December and was seeking reimbursement from its founder.

Milton’s representatives did not immediately respond to Reuters requests for comment.

The U.S. regulators had charged Milton for using social media to repeatedly mislead investors about the electric-truck maker’s technology and capabilities, reaping “tens of millions of dollars” as a result of his misconduct.

The Phoenix, Arizona-based startup, which has been trying to close this chapter and focus on ramping up production, said it expected to complete the expansion works at its Coolidge, Arizona facility in the first quarter of 2023.

The larger facility will provide Nikola with a production capacity of up to 20,000-trucks per year on two shifts, the company added.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Shailesh Kuber)