Nikola Corp’s fourth-quarter revenue missed Wall Street expectations on Thursday as the electric truck maker delivered fewer vehicles to dealers than it produced.
The EV maker produced 133 trucks and delivered 20 vehicles to dealerships.
It expects to deliver between 250 and 350 Tre battery electric trucks this year and at least 125 fuel-cell electric trucks in the fourth quarter.
Loss-making U.S. startups such as Nikola and Lordstown Motors Corp have been battling costs associated with ramping up production as they seek to grab a share in the commercial vehicles market.
Nikola reported revenue of $6.6 million for the quarter ended Dec. 31, below analysts’ estimates of $32.1 million, according to IBES data from Refinitiv.
Net loss stood at $222.1 million for the quarter ended Dec. 31, compared with a loss of $158.9 million a year earlier.
(Reporting by Akash Sriram in Bengaluru; Editing by Devika Syamnath)
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