Nikola Corporation has launched the European version of its heavy-duty battery-electric Class 8 truck, the Tre, in Europe today in collaboration with its transport partner IVECO. Nikola will officially accept orders for the fully-electric, zero-emissions Tre semi-truck starting today.
Nikola and IVECO announced today at the IAA Transportation 2022 event in Hanover, Germany, that the European 4×2 Arctic version of the Tre BEV is officially available for orders. It features nine batteries for total energy storage of 738 kWh, giving the vehicle a range of 530 kilometers, or roughly 329 miles. The truck also features 480 kW of continuous power to the FPT Industrial e-Axle, Nikola said, giving the vehicle enough torque and power to handle the most grueling hub-to-hub deliveries in a regional setting.
During the company’s Q2 Earnings, Nikola said in its Shareholder Deck that it launched a joint venture with IVECO that included engineering and production development. It also mentioned that both Nikola and IVECO planned to begin production of the Tre BEV in Europe in the second half of 2023. With orders just being placed, it gives Nikola roughly a year to begin production of the Tre BEV for the European market.
Nikola’s recently-appointed President, Michael Lohscheller, commented on the development:
“The Nikola Tre battery-electric and fuel cell electric zero-emission trucks are true game changers in commercial trucking. Specifically developed as electric vehicles, they deliver the performance and driving experience able to compete with their diesel-powered peers in the toughest heavy-duty missions. They offer operationally and financially viable zero-emissions solutions for regional applications and long-distance hauling that will give customers a true competitive advantage.”
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- Credit: Nikola
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- Credit: Nikola
IVECO Group Truck Business Unit President Luca Sra also commented on the announcement of the Tre BEV’s order log opening:
“Today we are making history with the first products for the European market of IVECO’s powerful partnership with Nikola Corporation. Together, our teams have designed a modular platform capable of hosting both fuel cell and battery propulsion technologies, starting with the European 4×2 Artic version of the Nikola Tre BEV heavy-duty truck making its debut here today. It is the first-ever electric-born modular platform for articulated heavy-duty tractors hosting both energy sources: battery-electric for missions of approximately 500 km and fuel cell electric powertrain for hauling up to 800 km in its first generation. A true revolution that marks a tangible step towards our ambitious goal of achieving a zero-emissions transport.”
The Tre is in no way a new vehicle to the global automotive market as Nikola started production and deliveries of the semi-truck in the United States earlier this year. In Q2, Nikola built 50 Tre BEVs at its factory in Coolidge, Arizona, delivering 48 of those units.
Nikola has made a dramatic turnaround from where it was just one year ago. After assuming new leadership in its CEO roles and mixing up various other positions, Nikola has launched production and deliveries of the Tre this year, which is likely more than anyone thought the company would be capable of.
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Elon Musk
SpaceX issues statement on Starship V3 Booster 18 anomaly
The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX has issued an initial statement about Starship Booster 18’s anomaly early Friday. The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX’s initial comment
As per SpaceX in a post on its official account on social media platform X, Booster 18 was undergoing gas system pressure tests when the anomaly happened. Despite the nature of the incident, the company emphasized that no propellant was loaded, no engines were installed, and personnel were kept at a safe distance from the booster, resulting in zero injuries.
“Booster 18 suffered an anomaly during gas system pressure testing that we were conducting in advance of structural proof testing. No propellant was on the vehicle, and engines were not yet installed. The teams need time to investigate before we are confident of the cause. No one was injured as we maintain a safe distance for personnel during this type of testing. The site remains clear and we are working plans to safely reenter the site,” SpaceX wrote in its post on X.
Incident and aftermath
Livestream footage from LabPadre showed Booster 18’s lower half crumpling around the liquid oxygen tank area at approximately 4:04 a.m. CT. Subsequent images posted by on-site observers revealed extensive deformation across the booster’s lower structure. Needless to say, spaceflight observers have noted that Booster 18 would likely be a complete loss due to its anomaly.
Booster 18 had rolled out only a day earlier and was one of the first vehicles in the Starship V3 program. The V3 series incorporates structural reinforcements and reliability upgrades intended to prepare Starship for rapid-reuse testing and eventual tower-catch operations. Elon Musk has been optimistic about Starship V3, previously noting on X that the spacecraft might be able to complete initial missions to Mars.
Investor's Corner
Tesla analyst maintains $500 PT, says FSD drives better than humans now
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Tesla (NASDAQ:TSLA) received fresh support from Piper Sandler this week after analysts toured the Fremont Factory and tested the company’s latest Full Self-Driving software. The firm reaffirmed its $500 price target, stating that FSD V14 delivered a notably smooth robotaxi demonstration and may already perform at levels comparable to, if not better than, average human drivers.
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Analysts highlight autonomy progress
During more than 75 minutes of focused discussions, analysts reportedly focused on FSD v14’s updates. Piper Sandler’s team pointed to meaningful strides in perception, object handling, and overall ride smoothness during the robotaxi demo.
The visit also included discussions on updates to Tesla’s in-house chip initiatives, its Optimus program, and the growth of the company’s battery storage business. Analysts noted that Tesla continues refining cost structures and capital expenditure expectations, which are key elements in future margin recovery, as noted in a Yahoo Finance report.
Analyst Alexander Potter noted that “we think FSD is a truly impressive product that is (probably) already better at driving than the average American.” This conclusion was strengthened by what he described as a “flawless robotaxi ride to the hotel.”
Street targets diverge on TSLA
While Piper Sandler stands by its $500 target, it is not the highest estimate on the Street. Wedbush, for one, has a $600 per share price target for TSLA stock.
Other institutions have also weighed in on TSLA stock as of late. HSBC reiterated a Reduce rating with a $131 target, citing a gap between earnings fundamentals and the company’s market value. By contrast, TD Cowen maintained a Buy rating and a $509 target, pointing to strong autonomous driving demonstrations in Austin and the pace of software-driven improvements.
Stifel analysts also lifted their price target for Tesla to $508 per share over the company’s ongoing robotaxi and FSD programs.
Elon Musk
SpaceX Starship Version 3 booster crumples in early testing
Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
SpaceX’s new Starship first-stage booster, Booster 18, suffered major damage early Friday during its first round of testing in Starbase, Texas, just one day after rolling out of the factory.
Based on videos of the incident, the lower section of the rocket booster appeared to crumple during a pressurization test. Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
Booster test failure
SpaceX began structural and propellant-system verification tests on Booster 18 Thursday night at the Massey’s Test Site, only a few miles from Starbase’s production facilities, as noted in an Ars Technica report. At 4:04 a.m. CT on Friday, a livestream from LabPadre Space captured the booster’s lower half experiencing a sudden destructive event around its liquid oxygen tank section. Post-incident images, shared on X by @StarshipGazer, showed notable deformation in the booster’s lower structure.
Neither SpaceX nor Elon Musk had commented as of Friday morning, but the vehicle’s condition suggests it is likely a complete loss. This is quite unfortunate, as Booster 18 is already part of the Starship V3 program, which includes design fixes and upgrades intended to improve reliability. While SpaceX maintains a rather rapid Starship production line in Starbase, Booster 18 was generally expected to validate the improvements implemented in the V3 program.
Tight deadlines
SpaceX needs Starship boosters and upper stages to begin demonstrating rapid reuse, tower catches, and early operational Starlink missions over the next two years. More critically, NASA’s Artemis program depends on an on-orbit refueling test in the second half of 2026, a requirement for the vehicle’s expected crewed lunar landing around 2028.
While SpaceX is known for diagnosing failures quickly and returning to testing at unmatched speed, losing the newest-generation booster at the very start of its campaign highlights the immense challenge involved in scaling Starship into a reliable, high-cadence launch system. SpaceX, however, is known for getting things done quickly, so it would not be a surprise if the company manages to figure out what happened to Booster 18 in the near future.
SpaceX issues statement on Starship V3 Booster 18 anomaly
Tesla analyst maintains $500 PT, says FSD drives better than humans now
