NKLA - Nikola lands key customer incentives in California for Tre hydrogen fuel cell EV

Nikola Corporation ( NASDAQ: NKLA ) announced that it has received approval from the California Air Resources Board for the Tre hydrogen fuel cell electric vehicle to be eligible for CARB's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project  program.

The approval will now enable customers of Nikola's ( NKLA ) Tre FCEV to access a point-of-sale incentive starting at $240K and ranging up to $288K per truck. Customers will also be eligible for a $40K clean commercial vehicle tax credit from the federal government due to the passage of the Inflation Reduction Act.

Nikola ( NKLA ) President CEO Michael Lohscheller called the inclusion of the Nikola Tre FCEV in California's HVIP program a very exciting development as the company continues introducing zero-emission truck technology options in its priority sales market. The combined incentives available to customer fleets through the HVIP program and the Inflation Reduction Act are noted to be critical for driving a competitive total cost of ownership and accelerating market adoption of the Tre FCEV, which will be powered by the hydrogen fuel supply and infrastructure implemented through HYLA, Nikola's recently launched hydrogen energy brand.

With a range of up to 500 miles, the Nikola Tre FCEV is expected to have among the longest ranges of all commercially available zero tailpipe emission Class 8 tractors while realizing weight savings relative to comparable BEVs. In the coming months, Nikola will be collaborating on commercial demonstrations of the Tre FCEV with potential fleet customers in California.

Shares of Nikola ( NKLA ) moved up 0.38% in premarket trading on Tuesday.

For further details see: