Nikola founder and executive chairman Trevor Milton on rolling out Nikola zero-emissions auto products before releasing to the public.
Electric truck maker Nikola is set to break ground on a new factory about an hour outside Phoenix, where the company is headquartered, on Thursday.
“Factory ground breaking July 23rd in Coolidge Arizona to build 35,000 semi trucks a year out of factory,” Nikola Motor founder Trevor Milton wrote on Twitter earlier this week. “Unfortunately, government restricts 10 people due to virus so we will film it and post it for everyone to see. Sorry, this virus sucks. I wish we could have everyone there.”
Milton previously said the plant will create “thousands of jobs.”
“We’re looking forward to it, as I’m sure a lot of people are,” Coolidge Mayor Jon Thompson said during a virtual meeting of area mayors, The Coolidge Examiner reported.
NIKOLA STOCK TANKS ON PLAN FOR 24M SHARE OFFERING
The plant is expected to take up 1 million square feet, although the city has not yet reviewed site plans but hopes to start that process in August, City Manager Rick Miller said according to the local outlet.
CEO and founder of Nikola Motor Trevor Milton. (REUTERS/Massimo Pinca)
Nikola’s decision to continue investing in the greater Phoenix area comes as the city touts itself as a magnet for tech and industrial companies.
“Arizona has a lot of space,” Carrie Kelly of the Arizona Association for Economic Development previously told FOX Business.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NKLA | NIKOLA | 36.57 | -3.18 | -8.00% |
Milton has compared his company to much larger electric vehicle rival Tesla. Now, like Tesla, it’s publicly traded after merging with a special-purpose acquisition company on June 3.
Nikola also focuses on hydrogen vehicles powered by heavy-duty fuel cells.
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FOX Business’ inquiry to Nikola’s public relations reps was not immediately returned.
