The zero-emission truck company Nikola has closed its so-called Powersports division and is stopping work on an electric watercraft and an off-road vehicle announced in April 2019. Nikola halted work on the projects as part of a larger push to focus on its first hydrogen-powered truck out the door, following a number of obstacles in 2020.
‘We still own the NZT and WAV rights and have interrupted the projects. We may consider moving forward with them later, ” a spokesman said. The edge. “Right now we’re focusing on commercial trucks and hydrogen infrastructure.”
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Photos by Sean O’Kane / The Verge
Nikola started following an electric watercraft in 2017 after buying one of the more promising startups that worked on the idea. The off-road vehicle was a hybrid type, blending the dune-buggy style with the convenience found in passenger vehicles, such as air conditioning. Nikola promised that the so-called NZT vehicle would reach 590 horsepower and 150 miles. It was supposed to hit the market this year at a starting price of $ 80,000.
Both Powersports vehicles were a major focus of Nikola’s annual meeting in 2019, but the NZT in particular has always seemed like a potential money maker for the startup, given the interest it generates from the defense industry.
The Powersports division is not the first victim of Nikola’s rocky 2020. The start-up pickup project crumbled after an altercation with General Motors, which Nikola supported before allegations of fraud began to fly.
Nikola announced the death of its Powersports division on Thursday afternoon, along with the financial results for 2020. The company reported a loss of $ 384 million for the year, although it closed the year with $ 840 million in the bank, thanks to the money it generated when it became known earlier in the year.