Nikola Addresses Key Business Topics in CEO Chat and Q&A

PHOENIX – September 13, 2023 – Steve Girsky, President and CEO Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, engaged in a candid and informative CEO Chat and Q&A session today, providing valuable insights into the company’s strategic direction and current developments as it relates to four key topics based on the questions received:

1. Battery-electric truck recall
2. Production and delivery expectations
3. Hydrogen infrastructure buildout
4. Nikolas future and outlook

The session commenced with an introduction to Girsky’s background and his journey with Nikola, highlighting his belief in the company’s substantial potential. He emphasized Nikola’s unique position in the zero-emission Class 8 truck market, underscoring the believed gap between Nikola and its competitors.

Girsky pointed out the vast opportunities in zero-emission commercial transportation and Nikola’s commitment to being a leader in this space, drawing parallels to his prior experiences with industry disruptors.

The importance of Nikola’s cradle-to-grave approach was discussed, focusing on downstream revenue streams and long-term profitability. Drawing from his extensive automotive background, Girsky emphasized the financial advantages of this comprehensive business model.

Girsky passionately described his experience as Nikola’s CEO, commending the dedication and drive of the team. He cited recent achievements, such as the commencement of hydrogen fuel cell electric truck production, the impressive performance of gamma hydrogen fuel cell test trucks, and successful customer fuel cell demos as evidence of Nikola’s progress.

Customers and stakeholders were assured of Nikola’s unwavering commitment to safety and its ongoing efforts to efficiently address any concerns relating to the battery-electric truck recall.

The attractiveness of Nikola’s products to customers were highlighted, which are reinforced by various state and federal incentives. He discussed the “Innovative Small e-Fleet program” in Calif., which offers substantial vouchers for Nikola’s vehicles, leading to strong customer demand.

Girsky discussed Nikola’s ambitious plans for the hydrogen infrastructure, emphasizing the significance of Calif. as a launchpad for the hydrogen highway. He detailed the deployment of mobile fuelers and collaborations with multiple suppliers to secure hydrogen supply, positioning Nikola as a frontrunner in hydrogen refueling solutions.

In conclusion, Girsky conveyed his optimism for Nikola’s future, emphasizing the significance of Calif. in the company’s commitment to its goals. He assured stakeholders that Nikola is moving in the right direction, with an unwavering focus on its mission to pioneer solutions for a zero-emissions world.

Investors and media interested in the full CEO Chat and Q&A session can access the archived webcast here.

ABOUT NIKOLA CORPORATION
Nikola Corporation’s mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing. 

Nikola headquarters is based in Phoenix, Arizona with a manufacturing facility in Coolidge, Arizona. 

Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or Twitter @nikolamotor.

FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the “Company”), including statements relating to: the Company’s belief in its potential and the gap between its competitors; the Company’s ability to be a leader in commercial transportation; the financial advantages of a cradle-to-grave business model approach; the performance of the fuel cell trucks and demos and the planned launch as an indicator of the Company’s progress; the Company’s ability to efficiently address any concerns relating to the battery-electric truck recall; the attractiveness of the Company’s products as a result of related incentives; the benefits of the Company’s planned hydrogen infrastructure; and the Company’s ability create a hydrogen highway or to pave the way for a more sustainable and efficient future in the transportation industry. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2023 filed with the SEC, in addition to the Company’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause the Company’s actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

NIKOLA MEDIA CONTACT
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