Skip to content
Subscriber Only
Opinion
Chris Bryant

Europe Is Building the Next Tesla. Who Knew?

Nikola’s remarkable rise has relied heavily on European expertise. That raises questions about its valuation and Europe’s failure to find a rival to Tesla. 

Keep on e-trucking.

Keep on e-trucking.

When Nikola Corp. started trading on Nasdaq in June, the Phoenix-based clean transportation company raced quickly to a valuation of almost $30 billion.

Its market worth has since fallen to a more reasonable $10.5 billion, but that’s still pretty spicy for a business yet to generate any revenue. Its most promising products are its heavy trucks, powered by electric batteries or hydrogen fuel cells.