EV maker Nikola 'evaluating' making its own battery cells, says CFO

Proterra

16/06/2022 16:51

June 16 (Reuters) - Electric-truck maker Nikola Corp
 NKLA.O  is "evaluating options" to make its own battery cells
in 2024, Chief Financial Officer Kim Brady said on Thursday.
    "If in-sourcing opportunity is available to us, and if we
decide to explore that, that will likely be in 2024," Brady said
at the Deutsche Bank Global Auto Industry conference, adding to
"ultimately" increase volume and reduce costs Nikola may have to
explore that option.
    Currently, Nikola sources its batteries from LG Energy
Solution  373220.KS , while the company signed a supply deal
with Proterra Inc  PTRA.O  in January.
    Brady reiterated the company's target to make 300 to 500 Tre
battery electric trucks this year, but said supply chain snarls
remain a concern.
    He said Nikola aims to localize its parts sourcing as much
as possible to North America, saying most of its parts were
coming from Europe now.

 (Reporting by Chavi Mehta in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Chavi.Mehta@thomsonreuters.com;))