Nikola Corporation
Nikola Corporation was a Phoenix-based hydrogen fuel cell truck manufacturer that produced the Tre FCEV Class 8 truck for long-haul zero-emission freight. The company filed for Chapter 11 bankruptcy in 2025 after producing only 117 trucks, with assets subsequently liquidated.
- Company typePublic
- Founded2015
- HeadquartersPhoenix, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Nikola Corporation does
Nikola Corporation was a Phoenix, Arizona-based hydrogen fuel cell electric vehicle (FCEV) manufacturer founded in 2015 by Trevor Milton. The company's flagship product was the Tre FCEV, a Class 8 heavy-duty hydrogen fuel cell truck designed for long-haul zero-emission freight transport, targeting commercial fleet operators facing decarbonization mandates in regions such as the EU, California, and China. Nikola's go-to-market was direct fleet sales of these hydrogen-powered trucks, positioning itself alongside Daimler Truck, Hyundai, Toyota, and Volvo Group in the hydrogen trucking space.
Nikola went public in 2020 through a SPAC merger with Vectol IQ, listing on NASDAQ under ticker NKLA at approximately $3.3 billion valuation. The company pursued a vertically integrated business model combining proprietary truck manufacturing, hydrogen fueling infrastructure, and maintenance services. However, production was capped at approximately 117 trucks before the company filed for Chapter 11 bankruptcy protection in 2025, with assets liquidated through the Gordon Brothers auction. Founder Trevor Milton was convicted of criminal fraud and sentenced to four years in prison with a $661 million restitution demand—subsequently pardoned in February 2025.
In April 2025, Lucid Motors acquired Nikola's Coolidge, Arizona manufacturing facility for $30 million—a 94% markdown from original capital outlay—along with over 300 engineers, while Nikola's zero-emission truck business, customer base, and hydrogen fuel cell technology were sold separately. The company had 1,001–5,000 employees prior to dissolution. No specific revenue figures are disclosed, and the company's operating status is closed following the bankruptcy proceedings.
Nikola Corporation firmographics
Firmographics- Name
- Nikola Corporation
- Legal name
- Nikola Corporation
- Website
- https://nikolamotor.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Closed
- Headcount range
- 501–1,000 employees
- Short description
- Nikola Corporation was a Phoenix-based hydrogen fuel cell truck manufacturer that produced the Tre FCEV Class 8 truck for long-haul zero-emission freight. The company filed for Chapter 11 bankruptcy in 2025 after producing only 117 trucks, with assets subsequently liquidated.
- Ownership category
- akta.pro rank
Nikola Corporation industry classification
Industry- Product category
- Commercial Heavy-Duty Trucks
- NAICS
- Heavy Duty Truck Manufacturing (336120)
- akta.pro primary industry
- Hydrogen Fuel Cell Electric Vehicle (FCEV) Manufacturing (IMACACAJ)
- akta.pro secondary industries
- Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK), Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC)
Keywords
Where Nikola Corporation is headquartered
LocationHeadquarters
- HQ city
- Phoenix
- HQ country
- United States
- HQ region
- North America
Markets served
Nikola Corporation business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Technology or R&D, Personnel, Operations, Infrastructure
Distribution channels1 record
Nikola Corporation product offering
Product offeringCore offering
Nikola Corporation manufactured hydrogen fuel cell electric Class 8 heavy-duty trucks for long-haul zero-emission freight transport. Its flagship product, the Tre FCEV, was designed to provide commercial fleet operators with an alternative to diesel-powered trucks to meet zero-emission freight mandates. The company also developed associated hydrogen fueling infrastructure before its Chapter 11 bankruptcy filing in 2025.
Product overview
Nikola Corporation was a zero-emission truck manufacturer specializing in hydrogen fuel cell electric vehicles (FCEV). The company's primary product was the Tre FCEV, a Class 8 heavy-duty hydrogen fuel cell truck for long-haul trucking applications. Following Nikola's Chapter 11 bankruptcy filing and subsequent asset liquidation in 2025, the company's manufacturing facility in Coolidge, Arizona was acquired by Lucid Motors, and Nikola's zero-emission truck business, customer base, and hydrogen fuel cell technology were excluded from that transaction and sold separately.
Differentiator
Problem solved
Functional benefit
Products and services
- Tre FCEV Hydrogen fuel cell electric Class 8 heavy-duty truck designed for long-haul zero-emission freight transport, targeted at commercial fleet operators needing alternatives to diesel.
Companies that use Nikola Corporation
Customer profileSegments1 record
Ideal customer profiles1 record
Nikola Corporation technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Nikola Corporation partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights2 records
Nikola Corporation competitors and assessment
Company assessmentDirect peers
- Toyota: Toyota, through its Hino Motors partnership, has been developing hydrogen fuel cell Class 8 trucks. Toyota was specifically listed alongside Nikola as a leading hydrogen truck OEM pursuing zero-emission long-haul solutions.
- Volvo Group: Volvo Group is developing hydrogen fuel cell trucks for long-haul applications, positioning it as a direct peer to Nikola's hydrogen Class 8 truck efforts. Both target European and North American zero-emission freight corridors.
- Hyundai Motor Company: Hyundai has commercialized the XCIENT Fuel Cell, a hydrogen fuel cell Class 8 commercial truck, making it the closest direct peer to Nikola's Tre FCEV. Both target zero-emission long-haul freight with hydrogen powertrains and Hyundai has been specifically named alongside Nikola as a leading hydrogen truck OEM.
- Daimler Truck: Daimler Truck's GenH2 hydrogen fuel cell truck program targets the same Class 8 long-haul segment as Nikola's Tre FCEV, with planned commercial availability in Europe. Daimler was specifically named alongside Nikola as a leading hydrogen truck OEM advancing zero-emission freight.
- Hyzon Motors: Hyzon Motors is a US-based hydrogen fuel cell truck startup with a similar technology approach to Nikola's Tre FCEV, targeting Class 8 commercial trucking applications. Like Nikola, Hyzon has faced significant financial and operational challenges in the hydrogen trucking space.
Broad incumbents
- PACCAR: PACCAR is a leading heavy-duty truck OEM (Kenworth, Peterbilt) with hydrogen fuel cell development programs for Class 8 trucks. As a broad incumbent with significant manufacturing scale and dealer networks, PACCAR represents both a competitor and potential technology partner in zero-emission freight.
- Cummins:
Market position
Strengths3 records
Weaknesses4 records
Competitive moat3 records
Key risks7 records
Key highlights7 records
Customer concentration
Nikola Corporation social profiles
Digital presenceNikola Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nikola Corporation leadership team
Management profileNumber of profiles
Nikola Corporation funding detail
Funding detailFunding overview
Funding rounds11 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nikola Corporation M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nikola Corporation
What does Nikola Corporation do?
Nikola Corporation manufactured hydrogen fuel cell electric Class 8 heavy-duty trucks for long-haul zero-emission freight transport. Its flagship product, the Tre FCEV, was designed to provide commercial fleet operators with an alternative to diesel-powered trucks to meet zero-emission freight mandates. The company also developed associated hydrogen fueling infrastructure before its Chapter 11 bankruptcy filing in 2025.
Is Nikola Corporation a public or private company?
Nikola Corporation is a public company. It is classified as public and is currently closed.
When was Nikola Corporation founded?
Nikola Corporation was founded in 2015. It employs 501 to 1,000 people.
Where is Nikola Corporation based?
Nikola Corporation is headquartered in Phoenix, United States, in the North America region.
Who are Nikola Corporation's main competitors?
Direct peers on record are Toyota, Volvo Group, Hyundai Motor Company, Daimler Truck and Hyzon Motors. Broad incumbents are PACCAR and Cummins.
Does Nikola Corporation have an API?
No public API is recorded for Nikola Corporation.
What industry is Nikola Corporation in?
Nikola Corporation's product category is Commercial Heavy-Duty Trucks. Its primary akta.pro industry code is IMACACAJ, Hydrogen Fuel Cell Electric Vehicle (FCEV) Manufacturing, with a secondary code of IMACABAK, Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells). Its NAICS code is 336120.