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Nikola ceases work on a jet ski and an all-terrain vehicle on electric traction
26.02.2021 [13:11],
Konstantin Khodakovsky

Nikola Motors, an electric truck company, closes its Powersports division, thereby suspending work on the WAV electric jet ski and NZT all-terrain vehicle, first announced in April 2021.

Nikola Motors

Due to setbacks and delays in 2021, the company decided to focus on its main task — to bring the first hydrogen truck to the market. According to the documentation, this decision cost the start-up company $ 14.4 million. “We still own the rights to NZT and WAV, but put projects on hold. We can consider the possibility of further work in this direction later, — said the spokesman for Nikola in an interview with the journalists of The Verge. «We are now focused on commercial trucking and hydrogen infrastructure.».

Nikola started developing the idea of ​​an electric jet ski back in 20021 after buying one of the most promising startups working in this direction. In turn, the SUV was a kind of hybrid, mixing the dune buggy style with the comforts of passenger cars like air conditioning. Nikola promised that the NZT will get 590 horsepower and a cruising range of up to 240 km on a single charge. The car was supposed to hit the market this year with a starting price of $ 80,000. NZT even aroused the interest of the American military and therefore it is strange that the company decided to pause its development for now.

Sean O’Kane / The Verge

Powersports is not the first victim of Nikola’s troubled 2021. The startup had to abandon the pickup project after breaking up with General Motors, which backed Nikola before the fraud charges began.

Nikola announces the death of its Powersports division with 2021 financial results. The company reported a loss of $ 384 million for the year, although it still has $ 840 million in cash from its public offering.

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