On September 3, Trevor Milton raised $250 million from CNH Industrial to develop a project that will revolutionize transportation. A lover of the green economy, Trevor felt it was possible to develop a hydrogen combustion process to power trucks. According to Forbes, the trucks will have a range of about 1200 km.
Currently, the CEO of Nikola Motor has completed a capital raising of about $ 500 million. In addition to CNH Industrial, there are of course other investors such as Bosch and other venture capitalists in the form of both funds and individuals. According to Forbes, the company is worth about $1.1 billion. Estimates predict an increase in the overall valuation if the latest rumors of an additional $250 million coming in are confirmed. Let’s see in detail what the plan provides for.
Trevor Milton has currently received orders for approximately 14,000 units, with a total turnover of over $10 billion. According to the American colleagues, 800 units will be leased to companies such as Anheuser-Busch, a manufacturer of Budweiser. In 2020, therefore, in the United States, we should see these huge, green-hearted cars wandering the streets, while in the United States, unlike the electric, the only hydrogen filling stations are currently in California.
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