https://www.forbes.com/sites/alanohnsman/2019/04/14/can-a-15-billion-bet-on-fuel-cell-big-rigs-be-a-game-changer-for-hydrogen/#ccf0288fe4ce
Apr 14, 2019, 09:30am
Startup Nikola Bets Hydrogen Will Finally Break Through With Big Rigs
Alan Ohnsman
Hydrogen has been a promising but elusive vehicle fuel for half a
century, powering a range of fuel cell cars and SUVs but never quite
solving cost and efficiency snags and lack of fuel stations that make it
less attractive than batteries for zero-emission vehicles. The problem
isn’t the technology, argues the founder of Arizona startup Nikola
Motor, but that big trucks are a much better choice for hydrogen.
The 4-year-old maker of hydrogen tractor trailers is extolling a vision
as brash as the one Tesla’s founders unveiled 13 years ago with its
pricey all-electric cars: Nikola will act as a catalyst to bring
hydrogen to the mainstream, building tens of thousands of
hydrogen-powered big rigs and a coast-to-coast hydrogen station network
to fuel them. It also wants carmakers like Toyota, General Motors,
Honda, Hyundai and Daimler to use those stations to expand their
hydrogen fuel cell vehicle sales beyond California.
It won’t be cheap: Nikola is seeking $1.25 billion to fund it, on top of
$300 million raised so far, CEO Trevor Milton tells Forbes. He’ll make a
big push this week with a Nikola-led hydrogen tech conference in
Scottsdale, Arizona, convening suppliers, partners, potential investors,
future customers and carmakers, to gin up excitement and win powerful
allies.
“You can’t do this alone. Toyota and the others can’t do it on their own
and neither could we,” he said. “The thing that Nikola brings to the
table is we actually provide the entire network, we’re building 700
hydrogen stations around America. It will be the largest in the world.”
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