, Columnist
Europe Is Building the Next Tesla. Who Knew?
Nikola’s remarkable rise has relied heavily on European expertise. That raises questions about its valuation and Europe’s failure to find a rival to Tesla.
Keep on e-trucking.
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When Nikola Corp. started trading on Nasdaq in June, the Phoenix-based clean transportation company raced quickly to a valuation of almost $30 billion.
Its market worth has since fallen to a more reasonable $10.5 billion, but that’s still pretty spicy for a business yet to generate any revenue. Its most promising products are its heavy trucks, powered by electric batteries or hydrogen fuel cells.