![]() Milton resigned from his roles as the company’s executive chairman and one of its board members in the wake of the scandal. In September, Nikola’s founder, Trevor Milton, was accused of fraud by the financial research firm Hindenberg Research for allegedly exaggerating the capabilities of the Nikola One hydrogen fuel cell electric semi-truck, though CNN has not independently verified the claims made in Hindenburg’s report. “We believe the opportunity to learn from and partner with Romeo will continue to provide additional opportunities that support our electrification strategy.” “We continue to believe that electrification is the future, the waste management company said. Republic Services confirmed via email that its deal with Nikola has been “terminated,” noting that it is continuing its electric vehicle partnerships with truckmakers Mack, Peterbilt, and California battery startup Romeo Systems, in addition to making more vehicle purchases next year. Nikola's deal to mass produce garbage trucks (pictured) for one of the nation's largest waste management companies was officially canceled on December 23, 2020. ![]() “This was the right decision for both companies given the resources and investments required,” Nikola CEO Mark Russell said in a written statement. Nikola said both companies agreed to cancel the deal after they determined combining new technologies and design concepts to make the electric trucks would take longer and cost more than initially anticipated. “The company still has a Kilimanjaro like uphill climb to gain back Street credibility heading into 2021 with today’s news viewed as another step backwards,” the firm added. “Given the tidal wave of bad news for Nikola over the last few months this was not the news that investors wanted to see under their Christmas tree,” Wedbush analyst Dan Ives wrote in a note to investors Wednesday morning. Wedbush analysts gave Nikola an “underperform” rating in response to the announcement, which the firm said was a “gut punch” to investors who were counting on the Republic Services deal to be a game changer for the struggling startup. (NKLA) stock shot up 22% after the deal was originally announced.īut Nikola’s stock price nosedived 10% Wednesday morning after the deal was publicly canceled. In August, the company had announced plans to produce as many as 5,000 trucks for Republic Services, which has sought to build a more sustainable fleet of garbage trucks to better meet emissions standards. Photo credits: The images used are owned by Republic Services and have been provided for press usage.Nikola Motor Company’s plans to mass produce garbage trucks for Republic Services, one of the nation’s largest waste management service providers, were canceled Wednesday morning, the latest in a string of bad news for the electric truck and hydrogen cell maker. As garbage trucks operate every day, this switch will have a very positive impact on carbon dioxide emissions in the United States. ![]() Thanks to this new design and the switch to electric, the gradual change from the former trucks to the new ones will mean a lot in terms of decarbonization. The goal of Republic Services is to “reduce absolute Scope 1 and 2 greenhouse gas emissions by 35% by 2030”, and the implementation of electric trucks is a step closer to that. After all, the trucks will also have a base where they can charge. Since waste collection trucks operate the same routes each day, they are especially well-suited for becoming electric-powered. In addition, the truck will also have “an enlarged windshield for improved visibility, 360-degree cameras, lane-departure sensors and automated braking.” Image: Republic Services (Previous design of waste collection truck) This also includes redesigning the chassis and body as a single unit. To do this, the company will provide insights to Oshkosh’s engineers in improving the interior. In addition to being electric, the company plans for the trucks to have improved ergonomics and safety features. Republic Services is teaming up with their long-time provider of truck bodies for waste collection, Oshkosh Corporation, to produce the new electric trucks. Image: Republic Services (Previous design of waste collection truck) Building electric waste collection trucks The company already has electric trucks operating in two states. Republic Services is a US-based nationwide leader in the environmental service industry, priding itself as the country’s “fifth largest vocational fleet, with 17,000 trucks”. ![]() This change is comparable to the implementation of hydrogen aircraft. The firm intends to greatly improve its electric truck fleet to help the ecological collection of garbage. This is where Republic Services enters the picture. However, it’s seldom forgotten how garbage is gathered in the first place. Recycling garbage is a major ecological battleground, and people are becoming more aware of how garbage is dealt with.
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