The zero-emission truck company Nikola has closed its division called Powersports and is discontinuing work on an electric watercraft and an off-road vehicle first announced in April 2019. Nikola discontinued work on the projects as part of a larger effort. to focus on getting their first hydrogen-powered truck went out the door after a series of stumbles in 2020.
“We still have the rights to NZT and WAV and put projects on pause. We can consider moving forward with them later, ”said a spokesman. The Verge. “At the moment, we are focusing on commercial trucks and hydrogen infrastructure.”
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Sean O’Kane / The Verge Pictures
Nikola started looking for an electric watercraft in 2017, after buying one of the most promising startups working on the idea. The off-road vehicle was a kind of hybrid, mixing the style of a buggy with the types of comfort found in passenger cars, such as air conditioning. Nikola was promising that the so-called NZT vehicle would have 590 horsepower and 150 miles of range. It was supposed to hit the market this year with a starting price of $ 80,000.
Both Powersports vehicles were a major focus of Nikola’s 2019 annual event, but NZT in particular always seemed to be a possible moneymaker for the startup, considering the interest it generated in the defense industry.
The Powersports division is not the first victim of Nikola’s turbulent 2020. The startup’s pickup project collapsed after a disagreement with General Motors, which was supporting Nikola before the fraud charges started flying.
Nikola announced the death of its Powersports division on Thursday afternoon, along with its 2020 financial results. The company reported a $ 384 million loss for the year, although it ended 2020 with $ 840 million in the bank, thanks to the money. that it generated when it went public at the beginning of the year.