Nikola’s first Hyla hydrogen refueling station is now live

Shares of Nikola Corp (NASDAQ: NKLA) are in focus today after the hydrogen fuel cell electric vehicles company opened its first Hyla hydrogen refueling station.

Where is Nikola’s hydrogen refueling station located?

The said station is located in Ontario, California and has capacity to serve as much as 40 Class 8 trucks.

The Nasdaq-listed firm is committed to setting up another eight hydrogen refueling solutions before the second half of 2024. Ole Hoefelmann – the president of Nikola Energy said in a press release today:

Once the nine planned solutions are in place, Nikola will have established one of the world’s largest heavy-duty hydrogen refueling networks, providing customers accessibility.

Nikola Corp is scheduled to report its financial results for the fourth quarter on February 22^nd. Consensus is for it to lose 17 cents a share versus 46 cents per share a year ago.

Nikola to set up 60 hydrogen refueling solutions

Longer term, the Phoenix-headquartered firm wants to open up to 60 hydrogen refueling solutions by the end of 2026.

Nikola is convinced that adoption of hydrogen-powered trucks will accelerate as it continues to establish the refueling infrastructure to serve its customers better. President Hoefelmann also said on Monday:

Easing the transition to a zero-emission trucking future and prioritising access to a hydrogen solution network is our top objective and we’re just getting started.

The news arrives only weeks after Ben Kallo – a Baird analyst said Nikola stock could hit $2.0 this year which represents about a 200% upside from here (read more).