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Tesla Semi rival Nikola unveils third truck amid release of 11.5k deposit refunds
Pushing forward with the development of its hydrogen-electric trucks, Tesla Semi rival Nikola Motors has announced that all 11,550 deposits placed for its vehicles have already been refunded. The company’s completion of its refunds comes amidst the release of the startup’s newest truck, the Nikola Tre, which is designed to compete in the EU market.
In trademark Nikola fashion, the company seemingly threw another shade at rival Tesla, stating that it does not operate on customer’s money. The trucking startup further noted that a company could not be “environmentally sustainable without being financially sustainable.” In a later statement on Twitter, Nikola noted that it opted to refund all the deposits placed on its vehicles because it did not want customers “thinking we were using their money to operate our business.”
All 11,500 truck deposits have now been refunded (except a few non responsive). We don't operate on customer's money. You cannot be environmentally sustainable without being financially sustainable.
— Nikola Corporation (@nikolamotor) November 5, 2018
The completion of Nikola’s refunds for its electric trucks comes as the startup unveiled its latest vehicle to date. Last Monday, the company opened reservations (at zero cost) for a hydrogen-electric truck that’s specifically designed for European markets. Dubbed as the Nikola Tre, the vehicle boasts 500 to 1,000 HP, 6×4 or 6×2 configurations and a range of 500 to 1,200 kilometers depending on options. The truck, which arguably looks the most conventional among Nikola’s offerings, is also created to fit within the current size and length restrictions for the European region.
Just like the Nikola One sleeper and the Nikola Two daycab, the Nikola Tre is armed to the teeth with technology. The company noted that the vehicle, apart from having range rivaling or exceeding even those of diesel-powered semi-trucks, would have fully autonomous features. In a press release, Nikola Motor Company Founder and CEO Trevor Milton noted that the Tre is expected to begin production for the vehicle sometime in 2022-2023.
“This truck is a real stunner and long overdue for Europe. It will be the first European zero-emission commercial truck to be delivered with redundant braking, redundant steering, redundant 800Vdc batteries, and a redundant 120 kW hydrogen fuel cell, all necessary for true level 5 autonomy. Expect our production to begin around the same time as our USA version in 2022-2023,” Milton stated.
Short-term goals for the Nikola Tre are already underway. European testing for the vehicle is expected to begin in Norway around 2020. The company is reportedly in the preliminary planning stages to identify an ideal location for its European manufacturing facility as well. A prototype display of the Nikola Tre, together with a working unit of the Nikola Two, is also expected to go on display in the company’s upcoming Nikola World exhibition on April 16-17, 2019. An example of a hydrogen fueling station for the company’s vehicles will be shown at the event too.
As Nikola starts moving forward with the development of its hydrogen-electric trucks, electric car maker Tesla continues to conduct real-world tests of its all-electric long-hauler, the Semi. Since its unveiling back in October 2017, the Tesla Semi has been sighted several times across multiple states in the US doing road tests. In a recent sighting, the Tesla Semi was seen charging at the Madonna Inn station using the company’s existing network of Superchargers. A brief glimpse of Tesla’s temporary “Megacharger” setup for the Semi was even spotted in a photograph.
Tesla plans to start producing the Semi sometime in 2019. Nikola, for its part, has declared that by 2028, its fleet would be the “largest energy consumer” in the United States. While it remains to be seen if Nikola could support its trucks with a network of hydrogen fueling stations, the arrival of its vehicles, as well as offerings from established electric car maker Tesla, could make the long-haul market far more competitive in the years to come.
Tesla analyst Gary Black of The Future Fund claims that the company is making a big mistake getting rid of the Model S and Model X. Instead, he believes another vehicle within the company’s lineup should be discontinued: the Cybertruck.
Black divested The Future Fund from all Tesla holdings last year, but he still covers the stock as an analyst as it falls in the technology and autonomy sectors, which he covers.
In a new comment on Thursday, Black said the Cybertruck should be the vehicle Tesla gets rid of due to the negatives it has drawn to the company.
The Cybertruck is also selling in an underwhelming fashion considering the production capacity Tesla has set aside for it. It’s worth noting it is still the best-selling electric pickup on the market, and it has outlasted other EV truck projects as other manufacturers are receding their efforts.
Black said:
“IMHO it’s a mistake to keep Tesla Cybertruck which has negative brand equity and sold 10,000 units last year, and discontinue S/X which have strong repeat brand loyalty and together sold 30K units and are highly profitable. Why not discontinue CT and covert S/X to be fully autonomous?”
IMHO it’s a mistake to keep $TSLA Cybertruck which has negative brand equity and sold 10,000 units last year, and discontinue S/X which have strong repeat brand loyalty and together sold 30K units and are highly profitable. Why not discontinue CT and covert S/X to be fully…
— Gary Black (@garyblack00) January 29, 2026
On Wednesday, CEO Elon Musk confirmed that Tesla planned to transition Model S and Model X production lines at the Fremont Factory to handle manufacturing efforts of the Optimus Gen 3 robot.
Musk said that it was time to wind down the S and X programs “with an honorable discharge,” also noting that the two cars are not major contributors to Tesla’s mission any longer, as its automotive division is more focused on autonomy, which will be handled by Model 3, Model Y, and Cybercab.
Tesla begins Cybertruck deliveries in a new region for the first time
The news has drawn conflicting perspectives, with many Tesla fans upset about the decision, especially as it ends the production of the largest car in the company’s lineup. Tesla’s focus is on smaller ride-sharing vehicles, especially as the vast majority of rides consist of two or fewer passengers.
The S and X do not fit in these plans.
Nevertheless, the Cybertruck fits in Tesla’s future plans. Musk said the pickup will be needed for the transportation of local goods. Musk also said Cybertruck would be transitioned to an autonomous line.
In a groundbreaking new report from Reuters, SpaceX is reportedly discussing merger possibilities with xAI ahead of the space exploration company’s plans to IPO later this year, in what would be a blockbuster move.
The outlet said it would combine rockets and Starlink satellites, as well as the X social media platform and AI project Grok under one roof. The report cites “a person briefed on the matter and two recent company filings seen by Reuters.”
Musk, nor SpaceX or xAI, have commented on the report, so, as of now, it is unconfirmed.
With that being said, the proposed merger would bring shares of xAI in exchange for shares of SpaceX. Both companies were registered in Nevada to expedite the transaction, according to the report.
On January 21, both entities were registered in Nevada. The report continues:
“One of them, a limited liability company, lists SpaceX and Bret Johnsen, the company’s chief financial officer, as managing members, while the other lists Johnsen as the company’s only officer, the filings show.”
The source also stated that some xAI executives could be given the option to receive cash in lieu of SpaceX stock. No agreement has been reached, nothing has been signed, and the timing and structure, as well as other important details, have not been finalized.
SpaceX is valued at $800 billion and is the most valuable privately held company, while xAI is valued at $230 billion as of November. SpaceX could be going public later this year, as Musk has said as recently as December that the company would offer its stock publicly.
The plans could help move along plans for large-scale data centers in space, something Musk has discussed on several occasions over the past few months.
At the World Economic Forum last week, Musk said:
“It’s a no-brainer for building solar-powered AI data centers in space, because as I mentioned, it’s also very cold in space. The net effect is that the lowest cost place to put AI will be space and that will be true within two to three years, three at the latest.”
He also said on X that “the most important thing in the next 3-4 years is data centers in space.”
If the report is true and the two companies end up coming together, it would not be the first time Musk’s companies have ended up coming together. He used Tesla stock to purchase SolarCity back in 2016. Last year, X became part of xAI in a share swap.
Tesla has announced it has hit a major milestone with Full Self-Driving subscriptions, shortly after it said it would exclusively offer the suite without the option to purchase it outright.
Tesla announced on Wednesday during its Q4 Earnings Call for 2025 that it had officially eclipsed the one million subscription mark for its Full Self-Driving suite. This represented a 38 percent increase year-over-year.
This is up from the roughly 800,000 active subscriptions it reported last year. The company has seen significant increases in FSD adoption over the past few years, as in 2021, it reported just 400,000. In 2022, it was up to 500,000 and, one year later, it had eclipsed 600,000.
NEWS: For the first time, Tesla has revealed how many people are subscribed or have purchased FSD (Supervised).
Active FSD Subscriptions:
• 2025: 1.1 million
• 2024: 800K
• 2023: 600K
• 2022: 500K
• 2021: 400K pic.twitter.com/KVtnyANWcs— Sawyer Merritt (@SawyerMerritt) January 28, 2026
In mid-January, CEO Elon Musk announced that the company would transition away from giving the option to purchase the Full Self-Driving suite outright, opting for the subscription program exclusively.
Musk said on X:
“Tesla will stop selling FSD after Feb 14. FSD will only be available as a monthly subscription thereafter.”
The move intends to streamline the Full Self-Driving purchase option, and gives Tesla more control over its revenue, and closes off the ability to buy it outright for a bargain when Musk has said its value could be close to $100,000 when it reaches full autonomy.
It also caters to Musk’s newest compensation package. One tranche requires Tesla to achieve 10 million active FSD subscriptions, and now that it has reached one million, it is already seeing some growth.
The strategy that Tesla will use to achieve this lofty goal is still under wraps. The most ideal solution would be to offer a less expensive version of the suite, which is not likely considering the company is increasing its capabilities, and it is becoming more robust.
Tesla is shifting FSD to a subscription-only model, confirms Elon Musk
Currently, Tesla’s FSD subscription price is $99 per month, but Musk said this price will increase, which seems counterintuitive to its goal of increasing the take rate. With that being said, it will be interesting to see what Tesla does to navigate growth while offering a robust FSD suite.
Tesla analyst claims another vehicle, not Model S and X, should be discontinued
SpaceX reportedly discussing merger with xAI ahead of blockbuster IPO
