Nikola Receives Landmark Order Of 2,500 Battery-Electric Waste Trucks From Republic Services

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Aug 10, 2020, 09:00 ET

Nikola's Tre electric drivetrain applied to the refuse market

Order includes 2,500 electrified chassis, with the option to increase the order up to 5,000 units
Largest single order in the waste industry and signals Republic Services' commitment to zero-emission vehicles
On-road testing likely to begin in early 2022, with full production shortly after
The truck chassis and body will be provided directly to Republic Services from the Nikola factory
The electric platform is expected to offer up to 150 miles and 1,200 cans on a single charge
Zero-emission trucks expected to outperform diesel or natural gas options in horsepower and torque
Will result in a much quieter and emission-free refuse collection experience

PHOENIX, Aug. 10, 2020 /PRNewswire/ -- Nikola Corporation (NASDAQ: NKLA), a global leader in zero-emission and infrastructure solutions, announces a minimum order of 2,500 electrified refuse trucks from Republic Services, expandable up to 5,000. This order is to begin full production deliveries in 2023 with on-road testing likely to begin in early 2022. The refuse trucks are anticipated to carry up to an industry-leading 720kWh of energy storage.

Phoenix-based Republic Services has placed an order for 2,500 battery-electric waste trucks with Nikola Corporation. The electric platform is expected to offer up to 150 miles for 1,200 trash cans on a single charge. The zero-emission trucks are expected to outperform diesel or natural gas options in horsepower and torque.

"Nikola specializes in heavy-duty, zero-emission Class 8 trucks. The refuse market is one of the most stable markets in the industry and provides long-term shareholder value," said Nikola Founder and Executive Chairman Trevor Milton. "The Nikola Tre powertrain is ideal for the refuse market as it shares and uses the same batteries, controls, inverters and e-axle. By sharing the Tre platform, we can drive the cost down for both programs by using the same parts. You couldn't pick a better partner than Republic Services, a leader in long-term environmental sustainability and customer service. Republic Services will help us ensure the Nikola Tre meets customer and fleet lifecycle demands and we are excited to have them participate in the design process."

Republic Services is the second largest recycling and solid waste provider in the U.S. and is recognized as an industry leader in providing environmentally responsible, sustainable solutions to its customers.

"This is a game changer," said Nikola CEO Mark Russell. "Refuse truck customers have always ordered chassis from truck OEMs and bodies from other suppliers. Nikola has fully integrated the chassis and body, covering both with a single factory warranty. Trucks will include both automated side loaders and front-end loaders — all of which will be zero-emission."

The powertrain software will be limited to 1,000 HP and is expected to outperform current diesel and natural gas competitors. The new platform can give refuse trucks nearly three-times the HP of natural gas and diesel options, giving operators the ability to go up hills with full loads without issue — a challenge natural gas vehicle manufacturers have been working to solve.

Please email [email protected] for more information.

About Nikola Corporation
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.

Forward Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the company's expectations regarding its projected refuse truck build and related specifications; the company's expectations for its trucks and market acceptance of electric refuse trucks; and market opportunity. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nikola's management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; the outcome of judicial proceedings to which Nikola is, or may become a party; failure to realize the anticipated benefits of the recently completed business combination; the conversion of pre-orders into binding orders; risks related to the rollout of Nikola's business and the timing of expected business milestones; the effects of competition on Nikola's future business; the availability of capital; and the other risks discussed under the heading "Risk Factors" in the definitive proxy statement/prospectus/information statement filed by VectoIQ on May 8, 2020 and other documents Nikola files with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and Nikola specifically disclaims any obligation to update these forward-looking statements.

MEDIA CONTACTS:
Nicole Rose, [email protected], 602-499-4795
Colleen Robar, [email protected], 313-207-5960

SOURCE Nikola Corporation