Nikola Motors, a Tesla competitor with zero revenue, is worth $23 billion. That doesn't faze its founder.

The Italian-American industrial vehicle manufacturer CNH's Iveco truck unit, in collaboration with the US company Nikola, is presenting its new fully electric and hydrogen fuel cell battery trucks
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Reuters
Nikola Motors is valued at $ 23 billion, although no sales or sales were generated.
Founder and chairman Trevor Milton told CNBC that investors "don't care".
Instead, they are concerned with reducing emissions and the promise of Nikola technology.
While Tesla is keeping an eye on a battery-powered semitrailer, Nikola is keeping an eye on hydrogen fuel cells.
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Nikola Motors, an electric truck manufacturer who ultimately wants to take care of both Tesla and the freight market, is still months from the delivery of its first products.
Nonetheless, non-phased investors have piled into the stock this month, and corporate valuations on public exchanges have risen to well over $ 20 billion in just three months. CEO Trevor Milton says the new shareholders "don't care" and he doesn't either.
"You care more about the environmental impact of your activities," Milton said in an interview with CNBC on Monday night. "'Oh, are you six or eight months away from sales?' They don't care. They say, "You know what? You change the world. You will reduce emissions more than anyone else we invest in you. "
Nikola's recent surge has been fueled by the announcement that it will begin making reservations for its Badger truck, a full-size F-150 and Tesla Cybertruck, starting June 29.
But it's the semitrailer - another segment that Elon Musk has big plans for - in which Nikola really wants to make money. However, there is one big difference in the powertrain: hydrogen.
"Nicolas' main source of income is tractor units," said Milton. "We can have sales of at least $ 750,000 on every truck sold, which is almost five times our competitors' sales per truck. This is because we actually include all of the fuel we own and produce the hydrogen fuel That's how we make all the money. "
Hydrogen fuel cells have been an industry choice for heavy trucks, particularly in off-highway applications where batteries can be quickly discharged. CNH Industrial, a manufacturer of heavy-duty trucks and agricultural equipment with a similar stance towards hydrogen compared to pure batteries, previously invested $ 100 million in Nikola before leaving its stake during the reverse public offering in March.
Here Milton believes that Nikola can improve Tesla's charging system.
"Generating hydrogen requires more energy than charging a battery-electric truck," said Milton. "But the advantage of hydrogen is that you build all of your hydrogen stations on the highways where you can get your hydrogen." Direct energy and pay less than 4 cents per kilowatt hour for energy. "
In California, for example, the Nikola charge can only be 30 cents per kilowatt hour, which is roughly Tesla, and can help trucks to work several shifts a day when charging. Customers like Anheuser-Busch already have an order backlog of $ 10 billion.
"If you look at the cost comparison between an electric battery and a hydrogen battery, it would be cheaper if you paid the same energy price, but not because the battery-electric truck pays the energy supplier, the hydrogen, we actually control the energy over the federal transmission lines so we can get really cheap energy, "said Milton.
Despite the optimism, there are many people who bet against Nikola and its rising share price. The company may be one of the top names in Robinhood, where investors buy more shares than General Motors or Netflix, but it has also risen to the sixth-highest short in the U.S., according to S3 Partners.
"I don't think they'll ever get a production car," the famous short seller Andrew Left told Business Insider this week, dismissing the company as "wannabe Tesla."
And with Tesla's "Battery Day" on the horizon for this month, if the plans are right, the race is on.
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