Hydrogen-madness: Start-up still makes no revenue, but is worth more than Fiat

With Pride, announced founder and CEO Trevor Milton self on Twitter: "I wanted to say That my life already: Nikola is now worth more than Ford and Fiat Chrysle

Hydrogen-madness: Start-up still makes no revenue, but is worth more than Fiat

With Pride, announced founder and CEO Trevor Milton self on Twitter: "I wanted to say That my life already: Nikola is now worth more than Ford and Fiat Chrysler. And pinches on the heels of General Motors.“ In fact, Nikola is a 23.2 billion Euro currently more valuable than Fiat with 14.6 billion euros.

But Ford, with a market capitalisation of 26.1 billion euros, not Nikola. And so "on the heels" is not the group, the industry giant General Motors (GM) also: even Though GM didn't really have the best of years, it brings the car manufacturers still have to 38.7 billion euros in market value.

Nevertheless, has pushed the first of 2015 based company after just one week on the stock exchange directly at one of the oldest players in the industry in the past. Fiat can look back on a 121-year history.

Nikola in the footsteps of Tesla's

Nikola was reminded immediately of Tesla . The electric car manufacturer has moved recently because of a milestone in terms of market capitalisation in the spotlight - in the meantime, the value of Tesla's exceeded the combined market capitalization of Volkswagen, Daimler and BMW. Nikola 68,04 EUR +3,35 (+5,18%) Tradegate

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Here is the Parallel, too. Already the name shows, which Ambition Nikola has. While the company operated by Elon Musk, the surname of the inventor Nikola Tesla, took the Newcomer just the first name. How Tesla Nikola has set nothing Less than the mobility sector completely. Nikola 68,04 EUR +3,35 (+5,18%) Tradegate

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The path is, however, different, this is because, unlike Tesla, Nikola, relies on its trucks with a combined electricity-water-fuel-drive. The electric motors of the Trucks foods with energy derived from a fuel cell instead of a battery, as it is in conventional Streamers, and all Tesla models. Fuel cells, space-efficient than batteries, but still provide more coverage - at least that's the theory.

said it has 14,000 orders in the order books

such As "Forbes", to be delivered by 2021 from the Partner Iveco produced, purely battery-powered Trucks, in the second half of the year, then the more important hybrid models are to follow. In addition to Iveco Nikola collaborates in its projects with a number of companies, including the Norwegian hydrogen-specialist Nel ASA, as well as the German supplier Bosch.

so Far Nikola has collected already an Order for 14,000 trucks of up to 10 billion US dollars in sales, provided that they are actually built and delivered, "Forbes". Among the customers about the brewery is Anheuser-book, which has already been abandoned in 2018, an Order of over 800 Hybrid Trucks. Webinar with Marc Friedrich: How do you now protect your wealth

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in addition to commercial vehicles Nikola with the "Badger" ("badger") has a Hybdrid Pickup that competes is projected to directly with the "cyber truck" Tesla's. On Monday, Nikola-chief Milton announced that from 29. June pre-orders for Pickup can be made.

investors are celebrating the hydrogen-Newcomer

On the stock exchanges Nikola laurels received already massive advance. Alone on Monday, the price shot up by 103 per cent to 73 million. On Tuesday, it is likely to go directly. In German trading, the paper jumped up by 23 per cent to 79,55 EUR, which implies a price of 89 dollars. It is calculated from the price of the coat company VectoIQ, has increased seven-fold the paper in the shortest possible time.

Whether or not the extreme rating is justified, of course, remains to be seen. Because so far, the company has made virtually no sales, in spite of the flood of orders. Nikola himself announced at the beginning of June that in the coming year, with the Proceeds is expected. It is not atypical for Start-Ups, especially in the technologies of the future to be for years unprofitable, as was Tesla in most of the quarters so far. But to not even make in sales, is rare.

Through the back door to the stock exchange

Although there are already a lot of submitted documents with the U.S. securities and exchange Commission, including the quarterly and annual reports. However, relating not at all to Nikolas business, but the company VectoIQ. Nikola chose the back door to the stock exchange.

Instead of a traditional IPO (IPO – Initial Public Offering) led by Nikola with VectoIQ a so-called Reverse Merger. A company merges with an already in the markets listed company. This saves both time and money.

A normal Listing process takes between 6 and 18 months, in the case of a Reverse Merger, this time in the best case can be reduced to 30 days. In addition, the company saves the cost of one or more investment banks as "underwriters" of the shares among the investors.

The merger with VectoIQ, as well as the entry of investors Nikola have flushed a total of around 700 million dollars in the coffers. In addition, Nikola won by the Merger, nor the VectoIQ-founder Steve Girsky to Board, between 2009 and 2014, the Deputy CEO at General Motors.

nevertheless, the company is expected to increase in the years 2021 and 2022, the capital again by the same amount, as "Forbes" wrote, with reference to SEC documents. In addition, then debt issues could follow.

Nikola zofft with Tesla

The money Nikola needs well also. Because in addition to the construction of its own factory for the Hybrid Trucks in the U.S. state of Arizona, Nikola wants to pull a network of hydrogen filling stations is high. In addition, Nikola is the first exchange of blows with the company, which wants to dethrone Tesla.

Before the court, Nikola zofft, in fact, already with Tesla. Musks company had operated in its 2017 featured Stromer-Truck models Nikolas, according to the indictment. Nikola is hoping that the suit for damages of two billion dollars in damage.

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Updated Date: 09 June 2020, 12:28

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