Let’s compare ‘Nikola Electric Trucks’ and Tesla’s Semi.
Nikola has overcome the crisis of being delisted. And on July 31st, J.B. Hunt Transport Services, one of the largest supply chain solutions companies in North America, announced its decision to purchase 13 trucks from Nikola.
This order includes 10 of Nikola’s battery electric trucks and 3 hydrogen fuel cell electric trucks. The first vehicle is expected to be delivered in August.
J.B. Hunt has set a goal to reduce carbon emissions by 32% by 2034. Zero-emission trucks are a key element in achieving this goal, so they are introducing electric vehicles.
The stock reacted immediately to this news. Such a reaction to just one contract indicates that Nikola’s profits were not good.
13 trucks are not a large order by any means. However, it could be the start for Nikola Electric Trucks, and many people are interested in it.
In addition to this, one cannot overlook Tesla’s ‘Semi’, which is already famous as an electric vehicle.
The Tesla Semi was announced in 2017 and is Tesla’s electric truck released in December 2022.
Elon Musk himself came out and unveiled the model. True to Tesla’s style, it presents a design different from traditional trucks.
On August 10, 2022, it was announced that the Tesla ‘Semi’ would be delivered. However, there’s always a possibility of a delay.
Let’s take a closer look and compare Nikola Electric Trucks and Tesla Semi in detail.
Nikola Electric Truck TRE FCEV (Hydrogen Electric Truck)
Introduction to Nikola
Corporation Nikola is a hydrogen car manufacturing company located in Phoenix, Arizona, USA. It was founded in 2014 by Trevor Milton.
The company is divided into three business areas: Nikola Motor Company, Nikola Powersports, and Nikola Energy.
Their flagship product is the electric semi-truck TRE model, with the electric model named EVB and the hydrogen electric truck named FCEV model.
Specifications of Nikola Electric Truck TRE FCEV
Max Range (Maximum Driving Distance): 500 miles
Top Speed: 75 mph
Gross Combined Weight Rating (GCWR): 82,000 pounds
Charging Time: Less than 20 minutes
Continuous Power: 536 horsepower
Climbing Ability: 36 mph on a 6% grade.
Tesla Semi (Semi)
Tesla Semi Specifications
Maximum Driving Distance: 500 miles
Consumption: 1.7kWh/mile
Charging Time: 30 minutes (up to 70%)
Tesla Semi Test Drive Results: The Tesla Semi has been delivered to PepsiCo and is currently undergoing pilot operations. A summary of PepsiCo’s review video of the Tesla Semi truck is as follows:
- PepsiCo is using 21 Tesla Semi trucks every day.
- Of these, 3 are designated for long-distance use.
- For long-distance trucks, they cover a distance of (250~ 450 miles)
- They are driven 12 hours a day, and with a 20~30 minute charge, the battery can be recharged from 5%~10% up to 95%.
- Additionally, through regenerative braking, the charging status is improved, and driving range is extended. As a result, truckers have maintained consumption less than 1.7 kWh/mile over the past few months.
- The Tesla Semi truck has received many reviews stating that it is easy and comfortable to drive.
(Source: https://evlounge.donga.com/FOREV/List/3/01/20230830/120940908/1)
Tesla Semi Actual Driving Test Results
First test result: Drove 335 miles on a single charge with approximately 17% battery remaining. The second test recorded a drive of 295 miles with 21% battery remaining. The third test result showed a drive of 377 miles with just under 2% battery charge remaining. This implies a possible driving range of roughly 474~607km.
NIKOLA TRE FCEV Vs TESLA SEMI
Can Nikola surpass Tesla?
If Nikola successfully produces electric and hydrogen-electric trucks, it may anticipate faster growth, potentially giving it a higher value than Tesla. By 2025, it’s estimated to have revenues of about $860.4 million.
This can be compared to Tesla, which saw its revenues surge by roughly 387% between 2012 and 2013. From 2013 to 2018, Tesla’s average annual growth rate was 61%.
However, given that Nikola’s current revenues are relatively small, surpassing Tesla’s revenues by 2030 might not be an easy feat.
What should Nikola investors focus on?
Investors often bet on Nikola with the possibility that it might become the next Tesla. However, they should focus on the company’s short-term liquidity. While all startups bear risks, Nikola’s stock is particularly volatile. If Nikola doesn’t immediately generate results from its BEV and FCEV production, this liquidity issue might become more acute.
There was a recent announcement of a deal with a U.S. transportation company. Nikola needs such announcements to continue in order to turn its financial results to profit. This deserves attention.
Comparison of Specifications between Nikola’s Electric Truck and Tesla Semi
| Company | NIKOLA Tre BEV | TESLA SEMI |
| Price | 750,000$ | 150,000% |
| GCRW | 82,000lb | 80,000lb |
| Driving Distnace(per single charge) | 500miles | 500miles |
| Autonomous Driving | Available | Available |
Considerations
Nikola faces the reality that there’s still a lack of infrastructure for hydrogen refueling. While they have signed an agreement with Volta Power to build 50 hydrogen refueling stations within the next 5 years, there’s a need for further expansion.
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