News
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.
News
Tesla Robotaxi heads to a new major Texas city for the first time
The expansion of Tesla’s Robotaxi platform has been a major focus for the company as it attempts to gain regulatory permission to operate in new states. Recently, it gained approval for testing in both Arizona and Nevada.
Tesla is testing its Robotaxi in one major Texas city for the first time, as it appears the company will attempt to expand outside of Austin in a move that shows expansion remains a key focus.
Tesla ground-truth validation vehicles equipped with LiDAR rigs were spotted in Plano, Texas, a smaller city located northeast of downtown Dallas, the state’s third-most populous city.
🚨 Tesla is doing ground validation for Robotaxi expansion in Plano, TX.
Plano is just northeast of downtown Dallas https://t.co/T2xF8yXH74
— TESLARATI (@Teslarati) September 24, 2025
Typically, this is a telltale sign that Tesla is preparing for Robotaxi operations in a new area. The company has utilized LiDAR-equipped ground-truth vehicles to essentially cross its Ts in regions that are unfamiliar to the company’s Robotaxi operations.
It also used them in the past with newer versions of Full Self-Driving before they were released to the public.
The expansion of Tesla’s Robotaxi platform has been a major focus for the company as it attempts to gain regulatory permission to operate in new states. Recently, it gained approval for testing in both Arizona and Nevada.
Many believe the ride-hailing service will soon be available in Florida as well.
However, this expansion would be the first where Tesla expands to a new city in a state where it is already operating. Texas was its first Robotaxi-active state, as it launched the service in Austin back on June 22.
It also expanded to California shortly after launching in Texas, as it introduced a large service area in the Bay Area. However, Tesla is doing things a little differently in California, as it is keeping its “Safety Monitors” in the driver’s seat for the duration of operation there.
Elon Musk says Tesla will take Safety Drivers out of Robotaxi: here’s when
In Texas, the driver’s seat is only occupied by a Safety Monitor when the route requires highway travel. This has been a point of criticism by Tesla Robotaxi skeptics, but it is a smart move in the name of safety, and will only be temporary.
It is simply a way to keep occupants safe and ensure the self-driving initiatives of not only Tesla, but also those of many other companies, continue to operate.
The appearance of a potential Robotaxi rig near Dallas could open the floodgates for more cities to gain access to the ride-hailing suite. There is still San Antonio and Houston, as well as some other smaller cities in Texas, for Tesla to access for its Robotaxi suite moving forward.
Tesla is offering a crazy choice on the Model 3 to help with its end-of-quarter push, but it is only available in Canada.
Tesla has been offering some pretty crazy incentives to help move vehicles in various markets, including discounts, Supercharging, and other offers.
In Canada, it is offering something pretty crazy: a $5,000 discount or Free Supercharging for life:
Tesla Canada 👀 pic.twitter.com/Gbk8D2VX5J
— Joe Taylor (@Joe_D_Taylor) September 23, 2025
This would bring the price of the two Tesla Model 3 configurations:
- Tesla Model 3 RWD – $49,990
- Tesla Model 3 LRAWD – $56,990
- Tesla Model 3 Performance – $64,990
The offer only stands if delivery is taken by September 30. The company describes the terms and conditions:
“Orders will default to $5,000 off total purchase price, deducted pre-tax. Requires you to contact Tesla to switch promotion to free Supercharging if desired. Supercharging promotion is tied to your Tesla Account and cannot be transferred to another vehicle, person or order, even in the case of ownership transfer. Used vehicles and vehicles used for commercial purposes (like taxi, rideshare and delivery services) are excluded from this promotion. You are still responsible for Supercharger fees, like idle and congestion fees, when applicable. Redeemable only at Tesla-owned Superchargers. Tesla reserves the right in its sole discretion to remove the free Supercharging from your vehicle in the event of excessive charging. “
The $5,000 discount in Canada, or the unlimited Free Supercharging, is a massive deal, as it benefits those looking for a deal or those who plan to use the car as a daily driver.
Tesla offers new deal on used inventory that you won’t want to pass up
Tesla has used a lot of different deals this quarter to help push cars out and bolster Q3 delivery figures.
- Lifetime Free Supercharging or $5,000 discount on Model 3 in Canada
- 1 Year Free Supercharging on Inventory Cybertruck, Model S, Model X in the U.S.
- 18 Months free Supercharging on Model 3 in the U.S.
- Lifetime Free Supercharging with Luxe Package on Model S and Model X in the U.S.
- Up to $2,000 off Model 3 and Model Y Inventory in the U.S.
These deals have all contributed to an increase in demand and minimal vehicle inventory in various markets.
Investor's Corner
Wall Street firm makes shock move for Tesla Q3 delivery prediction
“[The company should have] strong deliveries in the US as Tesla pushes, and consumers take advantage of, the $7,500 IRA EV tax credit before its expiry at the end of September 2025.”
A Wall Street firm is making a shocking move ahead of Tesla’s Q3 delivery report, increasing its forecast for the quarter.
Tesla is set to report its deliveries for the third quarter sometime next week at the beginning of October. There has been quite a bit of speculation about Tesla’s performance in terms of deliveries for the quarter, as many firms and investors are curious about how strong it could be.
There have been a few things working in Tesla’s favor, including the removal of the $7,500 EV tax credit, which stimulated demand as consumers wanted to take advantage of the discount before it was no longer available.
🚨 Wall Street firm UBS lifted its Q3 delivery forecast for Tesla $TSLA to 475,000 units from 431,000 units.
UBS believes there will be “strong deliveries in the US as Tesla pushes, and consumers take advantage of, the $7,500 IRA EV tax credit before its expiry at the end of… pic.twitter.com/lKmvvvi3Hl
— TESLARATI (@Teslarati) September 23, 2025
Tesla also has launched an attractive revamp to the Model Y this year, which was the best-selling car in the world for the past two years. These two points have helped Tesla with demand specifically this year, but this quarter has been especially strong because of the tax credit phase-out.
With that being said, one Wall Street firm chose to push its delivery prediction for the third quarter up about ten percent.
Tesla makes a big change to reflect new IRS EV tax credit rules
UBS analysts said they adjusted their delivery targets for Tesla from 431,000 to 475,000, stating it was “more in line with buyside expectations in the 470-475k range.”
The firm continued:
“[The company should have] strong deliveries in the US as Tesla pushes, and consumers take advantage of, the $7,500 IRA EV tax credit before its expiry at the end of September 2025.”
If it manages to reach what UBS thinks it will, deliveries would be the highest for Tesla since late 2024, and the firm believes it could “potentially [be] the highest ever” for the company in a single quarter.
Tesla delivered over 495,000 cars in Q4 2024, so it would truly need an anomaly to capture that crown in Q3.
For the full year, UBS believes Tesla will deliver 1.62 million cars in 2025.
Tesla Robotaxi heads to a new major Texas city for the first time
Tesla is offering a crazy choice on Model 3 to help with end of quarter push
Wall Street firm makes shock move for Tesla Q3 delivery prediction
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