Nikola Motors Manufacturing Facility

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July 23, 2020

Nikola Motor Company Press Release

Coolidge Multi-Product Factory 4.0 Manufacturing Facility

Zero-emissions facility will have the capacity to produce 35,000 Class 8 commercial semi-trucks annually, running two shifts

  • The Arizona facility is expected to generate more than 1,800 new full-time positions and result in approximately $600 million in new capital expenditures

COOLIDGE, Ariz. — July 23, 2020 — Nikola Corporation (NASDAQ: NKLA), a global transportation leader in zero-emissions and infrastructure solutions, is one step closer to bringing a 1 million-square-foot manufacturing facility to Coolidge, Ariz. following an official groundbreaking ceremony on its approximate 430-acre parcel.

The ceremony included speakers from Nikola’s executive team Trevor Milton, founder and executive chairman; Mark Russell, CEO; and Mark Duchesne, global head of manufacturing. Coolidge Mayor Jon Thompson along with business leaders Chris Camacho, CEO of Greater Phoenix Economic Council; Jackob Andersen, CEO, Saint Holding; and via video, Sandra Watson, president and chief executive officer, Arizona Commerce Authority, also joined in the celebration.

“This has been an incredible journey for Nikola Corporation. We started in our basement six years ago and now we are kicking off this 1 million-square-foot manufacturing facility,” said Trevor Milton, Nikola founder and executive chairman. “The residents of Coolidge will be a huge part of the Nikola story and without the help of Governor Ducey and the Arizona economic development teams, this project would not have been possible in Arizona. These next 12-months will be even more exciting as we see this facility go up and as we add more Arizonans to the Nikola team.”

Located off U.S. Highway 87 at east Houser Rd and Vail Rd, the future 4.0 designed facility will incorporate the latest technology to increase connectivity 24/7 throughout the building and equipment to optimize overall energy, productivity and quality.

“The reason our company exists is in support of a sustainable future so everything we do in our manufacturing process and our building site will be done to ensure the smallest environmental footprint possible while making the highest quality, high tech products that will impact the sustainability of the planet,” said Mark Duchesne, Nikola global head of manufacturing.

The first phase of construction is scheduled for completion in late 2021, with the second phase projected to be complete within the following 12-18 months. The U.S.-based facility represents a capital investment of approximately $600 million (USD) and will initially produce the Nikola Tre and Nikola Two. At full production, the facility will reach approximately 35,000 units annually, running two shifts. The first Nikola Tre trucks will be produced in Ulm, Germany with partner IVECO, followed shortly after by our Coolidge facility.

After an 18-month national site search of various locations around the United States, led by Tom Stringer at BDO and Saint Holdings, Nikola selected Coolidge for its outstanding industrial infrastructure within the region. The decision was also further solidified by the tireless support of the state, county and city, as well as the breadth of talent, year-round sunshine conducive to renewable energy, and the infrastructure available to scale with the ambitious plans and growth trajectory Nikola has set forth.

“Arizona is the best state in the nation for cutting-edge companies to make their mark,” said Governor Ducey. “Nikola’s new plant in Coolidge will produce its zero-emissions Class 8 semi-trucks and create thousands of new jobs. Congratulations to the Nikola team on breaking ground and I look forward to the continued success.”

“Nikola Corporation will be a welcomed addition to Coolidge providing thousands of jobs while manufacturing environmentally friendly vehicles,” said Coolidge Mayor Jon Thompson. “We’re proud to be a part of this history paving future in transportation.”

June 1, 2020

Zero-emission truck maker Nikola readies for rebirth as $11B public company

The Phoenix-based maker of zero-emission heavy trucks Nikola Corp. will become a publicly traded corporation later this week, possibly worth $11 billion or more, if a vote to approve its merger with another company succeeds as expected.

More than $700 million in proceeds from the reverse-merger transaction with VectoIQ Acquisition Corp. will allow Nikola to continue research in zero-pollution electric and hydrogen vehicles, break ground on a new Arizona factory in Coolidge and build a network of hydrogen fueling stations for semitrucks.

It also results in a new Arizona billionaire —Trevor Milton, who founded Nikola in 2015 and will hold about 42% of the combined company's shares.

Assuming a successful vote June 2 in favor of the marriage with VectoIQ, the resulting corporation, which will retain the Nikola name, will trade in the Nasdaq stock market, likely under the symbol NKLA, by June 3 or 4. Shares in VectoIQ have been trading all along and have risen sharply in price, including a gain of $5.29 a share to $33.99 on Monday. VectoIQ shares will convert into Nikola stock.

"People are driving the stock up," said Milton in a brief interview Monday. "They see value in the (combined) company."

Read entire article from AZ Central