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Tesla Semi rival Nikola targets $1B financing round amid $380M worth of new truck orders
As the company prepares to unveil working prototypes of its hydrogen-electric trucks next year, trucking startup Nikola Motor has announced that it recently completed an “oversubscribed” Series C funding round, which began last August. In a statement on Twitter, the company noted that it had received an additional $105 million from investors, bringing the total Series C funding round financing to over $205 million.
Nikola CEO and founder Trevor Milton noted in a statement to trucking publication Freightwaves that the company’s initial goal for its Series C funding round was $150 million. Inasmuch as its recent financing round was successful, though, Milton stated that the startup’s target next year would be even bigger — a $1 billion round that would likely start in the first quarter of 2019.
“It’s primarily for prepping the truck for full production. We’re going to start a $1B round in the first quarter of next year. It usually takes around 4-5 months to complete a round that big and that will go to the factory and everything else,” Milton said.
@nikolamotor has oversubscribed its C round financing at $1.1BB pre money valuation. This week we closed and received an additional $105MM bringing the total C round financing to over $205MM.
— Nikola Corporation (@nikolamotor) November 14, 2018
Nikola expects to break ground for its Arizona-based factory sometime next year. Milton notes that the facility would be tasked with manufacturing the company’s Nikola One sleeper and Nikola Two daycab once the vehicles are ready to enter production. Over the next six years, the trucking startup expects to spend about $6 billion to develop the facility. The $1 billion funding round for 2019 is expected to allow the company to deploy working units of its vehicles on US roads.
“The year 2019 is going to be a pretty amazing year because you are going to see all the products out on the road. The biggest criticism is when are you going to have trucks on the road? We’re really trying to help the industry, and you can’t do that if the truck can’t pull a load,” Milton said.
With its Series C funding completed, Nikola is now dedicating its efforts to its upcoming Nikola World 2019 exhibition, which is set to unveil a working prototype of the Nikola Two. A sample unit of the Nikola Tre, a new truck the company announced for the European and Australian markets, would also be available in the event.
While Nikola’s vehicles boast excellent specs, the company would have to establish a network of hydrogen refueling stations across the United States and Europe for its trucks to become a viable alternative to diesel-powered trucks. That said, the company has stated that it would have hydrogen coverage in the US, Canada, Europe, and Australia by 2028. Within that timeframe, Nikola has announced that it would become America’s “largest energy consumer.”
For now, though, Nikola Motor remains optimistic, announcing that the Tre, its truck for the European and Australian market, has received $380 million worth of orders within the first five days since it was announced. The company also plans to start building its hydrogen network in 2020.
The United States’ trucking industry is ripe for disruption. Thus, vehicles form upstart companies such as Nikola and trucks from established electric car makers such as Tesla would likely accelerate the transition of the long-haul industry into the zero-emissions era. Considering the progress of the companies so far, though, the Tesla Semi, which is currently undergoing testing and expected to “earnestly” begin production sometime in 2020, would likely be saturating the market by the time Nikola’s hydrogen-electric trucks start rolling off the production line.
Tesla is reportedly mulling the potential revamp of its $25,000 vehicle project, a strange report claims.
It seems unlikely, especially since Tesla launched two new, more affordable models last week with the Model 3 and Model Y Standard trims.
However, a report from European media outlet 36kr claims Tesla has started to advance two vehicle projects, internally codenamed E41 and D50, in China.
People familiar with the matter reportedly told the outlet that “some design and verification reports of the new projects are inherited from the current Model Y and Model 3.”
Tesla axed one of the Model Y’s best features in ‘Standard’ trims: here’s why
These new simplified models would be priced between $5,000 and $5,500 cheaper than what the new ‘Standard’ trims cost. The report also claims that these vehicles would be launched only if the new ‘Standard’ models “fall short of sales expectations.”
$TSLA 🇺🇸 BREAKING 🚨 Tesla is reportedly restarting work on its NV91 and NV93 projects for models smaller than the Model Y 💥
The NV91 project refers specifically to the $25,000 vehicle that CEO Elon Musk had mentioned, a model that was halted in Feb.2024 despite being… pic.twitter.com/L8TDvzmNwm
— Ming (@tslaming) October 14, 2025
This report suggests that potentially more affordable models are being offered, but this seems unlikely, considering Tesla launched the two Standard models just last week, and the only truly affordable model it is working on will be the Cybercab.
However, there is potential for a car to launch that undercuts the newest configurations of the Model 3 and Model Y. As of now, it just seems as if it is something that is far-fetched.
When Tesla’s patent for the unboxed process was published just last month, it seemed more than obvious that the vehicle it would be used for was the Cybercab.
The language used in the patent itself was geared toward more streamlined and quality production and manufacturing, which Tesla must implement to meet the likely demand for the vehicle.
It will be easier to scale vehicles with the unboxed process, and the Cybercab has been routinely mentioned with the sub-$30,000 price tag, even by CEO Elon Musk.
He said during the Q3 2024 Earnings Call:
“I think having a regular 25K model is pointless. It would be silly. Like it would be completely at odds with what we believe…It’s fully considered cost per mile is what matters. And if you try to make a car that is essentially a hybrid, manual, or automatic car, it’s not going to be as good as a dedicated autonomous car. So, yes, Cybercab is just not going to have steering wheels and pedals.”
SpaceX aces its eleventh Starship test launch on Monday evening, marking the company’s second consecutive takeoff that crossed off each of the planned mission objectives.
It was also the final launch of the V2 Starship rocket. The twelfth test flight will feature the larger V3 Starship rocket, followed by V4, which will eventually make the first trip to Mars.
The launch was overwhelmingly successful. In its 12th test flight, SpaceX was able to achieve every major mission objective, including the second successful deployment of Starlink satellite simulators and the relight of a Raptor engine while in space. The latter achievement demonstrated “a critical capability for future deorbit burns,” the company said.
The ship officially launched at 6:23 p.m. local time in Starbase, Texas, with all 33 engines igniting and sending the Ship to space.
Liftoff of Starship! pic.twitter.com/sbfmGAEPa6
— SpaceX (@SpaceX) October 13, 2025
Stage separation occurred just over eight minutes later, and Super Heavy started its descent back to the Gulf of America, where it successfully splashed down. The first part of the launch was complete.
Starlink simulators were deployed about twenty-one minutes after launch, as the Pez dispenser sent the faux-satellites out to space without any issue:
Starship has successfully deployed our @Starlink simulators pic.twitter.com/muNMalZkbT
— SpaceX (@SpaceX) October 13, 2025
Perhaps the most anticipated part of the launch was with Starship’s banking maneuver and subsequent splashdown in the Indian Ocean.
Prior to Starship 11’s launch and successful re-entry and splashdown, SpaceX had lost a few vehicles during this portion of the previous flights.
However, the company had made tremendous improvements and has now aced two consecutive launches. On Monday, its approach and splashdown were both overwhelmingly successful:
Splashdown confirmed! Congratulations to the entire SpaceX team on an exciting eleventh flight test of Starship! pic.twitter.com/llcIvNZFfg
— SpaceX (@SpaceX) October 14, 2025
The re-entry phase of this particular Starship launch aimed to gather data on the performance of the heatshield, SpaceX said. The heatshield was intentionally stressed to its limits to determine how much it could withstand without failing.
SpaceX will now turn its focus to the next vehicles, including V3, which is larger, more capable, and will help the company gather even more information about its launches into space:
SpaceX unveils Starship V3, the rocket built to finally reach MARS
The new design features Raptor 3 engines and massive grid fins
Musk says it’s leaner, meaner, and READY for Mars pic.twitter.com/Wj8fBuXPIa
— RT (@RT_com) October 14, 2025
CEO Elon Musk has said the third-generation Starship rocket will be built and tested by the end of the year.
Tesla has launched a new color at Gigafactory Berlin in Germany, home of the company’s “world-class paint shop,” as Elon Musk once called it.
Bringing a new color to Tesla’s Model Y, there are now five available colors for those who will receive a vehicle from Gigafactory Berlin, with four of them being colors offered in other markets.
However, there is now one distinct color that is only available in Germany: Marine Blue.
🚨 Tesla has launched “Marine Blue” in select European countries
It is the third shade of blue Giga Berlin produces. It costs $1,500 pic.twitter.com/pVDWdNeBSJ
— TESLARATI (@Teslarati) October 10, 2025
Priced at €1,300, Marine Blue will cost the same as both Diamond Black and Stealth Grey, while Quicksilver and Ultra Red are available for double the price.
It is the third shade of blue Tesla offers across its lineup, as Deep Metallic Blue and Glacier Blue are also offered, but in other markets.
Tesla has routinely flexed Giga Berlin for having the most advanced paint shop throughout its factories, and it has produced some interesting colors over the past few years, some of which were truly awesome.
Tesla Giga Berlin is getting a world-class paint shop, new color ‘layers’ to come
In 2020, Musk said, “Giga Berlin will have the world’s most advanced paint shop, with more layers of stunning colors that subtly change with curvature.”
He also detailed the company’s plans to upgrade the Fremont and Shanghai paint shops. Gigafactory Texas was not yet unveiled. Tesla has worked to improve those facilities, especially in Fremont.
It was able to roll out the new Diamond Black color earlier this year.
However, Giga Berlin seems to remain the standard in terms of paint for Tesla. It routinely offers new colors.
For example, back in 2022, Tesla rolled out its familiar Quicksilver color for the Model Y, while also introducing Midnight Cherry Red, a color close to burgundy. However, the company chose to discontinue the color after determining internally that customers no longer wanted to buy it.
Midnight Cherry Red was removed as an option earlier this year, likely to make way for the development of the new Marine Blue.
Tesla mulls revamping $25k car, strange report claims
SpaceX aces Starship’s 11th launch with success in every mission objective
Tesla launches new color from Gigafactory Berlin
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