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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.