Nikola Corporation has received approval from the California Air Resources Board for Nikola’s Tre hydrogen fuel cell electric vehicle (“FCEV”) to be eligible for CARB’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”) program. This approval will now enable customers of Nikola’s Tre FCEV to access a point-of-sale incentive starting at $240,000 and ranging up to $288,000 per truck, in 2023. Customers will also be eligible for a $40,000 clean commercial vehicle tax credit from the federal government due to the passage of the Inflation Reduction Act.
California’s HVIP program is unique in that it accelerates the adoption of zero tailpipe emission commercial vehicles on a first-come, first-served basis that does not require the retirement and scrappage of an existing diesel vehicle. It is estimated that Class 8 heavy-duty trucks may be eligible for approximately $457 million in funding through the HVIP program in 2023, with potentially an additional $45 million per year to be provided by each of the Ports of Los Angeles and Long Beach, which may also be distributed through HVIP.
With a range of up to 500 miles, the company says the Nikola Tre FCEV is well-suited for a variety of applications ranging from drayage and intermodal to metro-regional truckload and less than truckload to certain specialized hauling use cases. The truck has an estimated fueling time of approximately 20 minutes at planned HYLA fueling stations, based on expected technology advancements and introduction of its mobile fueling options, Nikola says.
