Funding secured.

Nikola Motor Company has oversubscribed its C round of financing, raising $210 million in total - more than $100 million this summer and an additional $105 million in November.

The company said that so far it received $12 billion in pre-orders, with $380 million in just-announced Nikola Tre European orders. We are not sure how much are binding-orders but we assume not too many, as the production version of the hydrogen truck hasn't yet been unveiled or demonstrated in action.

Nikola promises that by 2028 it will have hydrogen infrastructure coverage in the U.S., Canada, Europe and Australia.

Nikola Tre

Nikola Tre

"Just last week, Nikola announced a sneak peak of the European Nikola Tre hydrogen semi-truck at its Nikola World event set for April 16-17, 2019. The cost per mile for the Nikola Tre is expected to be around 10-20 percent less than comparable diesels in Europe. “Once the Nikola Tre arrives in Europe, diesel will finally be on its way out, ” said CEO Trevor Milton.

In the first five days, Nikola has logged over $380 million in orders for the Nikola Tre and is now in discussions with some of the biggest fleets and brands in Europe. “It is a not a bad start for a new European and Australian brand,” said Nikola’s CFO Kim Brady.

“Now that we are funded and oversubscribed, we are kicking it into high gear and preparing for Nikola World 2019. At Nikola World, you will see the USA Nikola Two prototype in action and be able to step foot in our European Nikola Tre. We also have a few surprises for the show from our powersports division and other new product announcements,” said Milton."

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