As of today, we have built seven (7) Nikola Tre FCEV alphas, comprised of two (2) in Ulm and five (5) in Coolidge.
Division of Enforcement at the SEC have been engaged in discussions regarding a resolution of the SEC’s investigation. The company expects that, if approved, the resolution would include a $125 million civil penalty paid in installments over time. Final resolution of this matter is subject to documentation satisfactory to all the parties, and completion of any settlement is contingent on a vote of the Commissioners of the SEC.
In addition, the Company intends to seek reimbursement from its founder, Trevor Milton, for costs and damages in connection with the government and regulatory investigations.
On October 20, 2021, we entered into a long-term supply agreement with LG Energy Solution, LTD. This supply agreement will provide additional battery cells for our trucks beginning in 2022 through 2029.
Nikola Corporation (NKLA) CEO Mark Russell on Q3 2021 Results - Earnings Call Transcript https://seekingalpha.com/article/4465647-nikola-corporation-nkla-ceo-mark-russell-on-q3-2021-results-earnings-call-transcript
We also continue to hit milestones for the development of the Tre fuel cell electric vehicle or FCEV. We’ve built 2 alpha trucks in Ulm and 5 in Coolidge so far. These trucks are currently undergoing track testing at various locations in Europe and in the United States in preparation for our public road release, which is scheduled by the end of the year.
The road release will fall a 10-week validation and testing period after which we’ll start road trials with several customers in California in January
A little bit of a story
