Nikola Beats Predictions On Q2 Deliveries Of Hydrogen Fuel Cell Trucks

The H2-powered vehicle maker recently reported on its deliveries for the second quarter of this year

Nikola recently announced that its deliveries of hydrogen fuel cell trucks exploded by 80 percent during the second quarter of this year when compared to the first.

This indicates a considerable demand for H2-powered trucking

While some have guessed that this may also reflect a move away from battery-powered rigs, it is definitely too early to tell whether that is in fact true.  What it does show is a rapidly increasing demand for these particular hydrogen fuel cell rucks at the same time that battery electric passenger vehicles continue their growth in popularity.

In Q2 2024, the company announced that it had delivered 72 of its Class 8 Nikola H2-powered vehicles to wholesalers.  This figure was even greater than its own predictions for its deliveries, which were in the range of between 50 and 60 units.  Following the initial announcement, Nikola’s stock prices jumped by 3 percent.

In Q1 2024, there were only 40 hydrogen fuel cell trucks delivered

While that certainly wasn’t a bad figure for the first quarter of the year, it does show the type of spike Nikola has been experiencing in its deliveries.  In May, the zero-emission vehicle maker said that its goal was to complete the year with a total of between 300 and 350 deliveries.

– Nikola FCEV Road Blur – Image Source: Nikola

The rise in deliveries between the first and second quarters of the year indicate that Nikola may indeed be making meaningful progress toward reaching its goal. This may also suggest that a rising number of businesses are becoming willing to try H2-powered vehicles as a part of their trucking fleets.  This is even more powerful when considering that the company had faced a massive recall last year for all its battery-powered vehicles due to a coolant leak that risked causing fires.

Acquiring new customers

During the first half of the year, Nikola has made 112 deliveries of its hydrogen fuel cell trucks.  At the start of the month, it announced that it had acquired some new customers as well, including Walmart Canada.  The vehicle maker has already delivered one of its semis to the retail giant.