Nikola (NKLA) Unveils Three Reservation Packages for the Badger Electric Pickup Truck
Nikola, the manufacturer of an electric version of the heavy-truck, experienced a phenomenal bull run last week, prompted by the news of an imminent opening of reservations for the much-anticipated Badger electric pickup truck. Today, Nikola Motors tweeted further details regarding the seminal event, currently slated for the 29th of June.
As per the tweet, Nikola will offer three Badger reservation packages:
Badger reservation details and your chance to win one. https://t.co/T0lEn3lyNP
— Nikola Motor Company (@nikolamotor) June 15, 2020
The first Nikola Badger reservation package will cost $250 and will entail a $500 discount applicable to the Badger’s MSRP – expected to vary between $60,000 and $90,000. The package also contains a ticket to the Nikola World 2020 in order to view the Badger in-person. Finally, the package will entail 2 entries into a ballot for the Badger giveaway.
The second reservation package will cost $1,000 and will slash $2,000 off the Nikola Badger’s MSRP. This package will entail 2 tickets for the Nikola World 2020 as well as 4 entries into a ballot for the Badger giveaway.
Finally, the third reservation package will cost $5,000 and will entail a $7,500 discount vis-à-vis the Nikola Founder – an executive truck series. The package will also offer its holder 2 VIP tickets for the Nikola World 2020 along with 25 balloting entries for the Badger giveaway.
As a refresher, Nikola unveiled the Badger electric pickup truck back in February 2020 to compete with Tesla’s much-anticipated Cybertruck. According to the details revealed by the company, the Badger will retail in two power configurations: an FCEV (Fuel-Cell Electric) or BEV (Battery-Electric). Though it sports a much more conventional design as opposed to the Cybertruck’s sharp corners and the futuristic vibe, the Badger offers impressive specs. As an illustration, the electric truck will offer a headline range of 600 miles through a combination of the two power configurations. Moreover, it will offer an acceleration from 0 to 60 mph in 2.9 seconds, a torque of up to 980 pounds-feet, and a peak horsepower of 906.
As mentioned earlier, the announcement for the initiation of Badger reservations had unleashed a fierce rally in Nikola’s stock, with the company’s share price surging by a whopping 103.7 percent last Monday, essentially doubling within a span of a single trading session. Toward the middle of the week, however, the enthusiasm moderated, with Nikola recording a plunge of over 18 percent last Wednesday, followed by a decline of 6.9 percent on Thursday. Nonetheless, Nikola is still up by a whopping 521.36 percent year-to-date.
Of course, Nikola skeptics will gleefully point out a host of factors that necessitated such a decline. For instance, these people highlight the fact that Nikola is not expected to generate even $1 in sales until late 2021. Even then, it is as yet uncertain whether the requisite infrastructure will be in place for the formal commencement of operations. Moreover, Nikola has declared around 14,000 pre-orders for its class 8 electric trucks, translating to potential revenue of up to $10 billion. However, these pre-orders do not require any deposit or a firm cash commitment. Moreover, many skeptics view Nikola’s hydrogen fuel-cell ambitions as being emblematic of a glorified pipe dream.
Despite these shortcomings, Nikola seems to be treading a swift path toward the formal launch of production. As an illustration, a recent Reuters report detailed that the company is currently searching for partners in the production of the much-anticipated Badger electric pickup truck, with a formal launch expected by 2022 or earlier. Moreover, Nikola is aiming to launch its electric commercial trucks, built in partnership with CNH Industrial, in the second half of 2021. To this end, the company is already building prototypes at its facility in Ulm, Germany, that has the capacity to produce 35,000 trucks annually. Nikola is also planning to bring online another facility in Arizona with a capacity of producing 35,000 trucks annually.
Note: The article has been updated with the correct information pertaining to the Badger's range.
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