Fuel Oil News

Fuel Oil News - January 2017

The home heating oil industry has a long and proud history, and Fuel Oil News has been there supporting it since 1935. It is an industry that has faced many challenges during that time. In its 77th year, Fuel Oil News is doing more than just holding

Issue link: https://read.dmtmag.com/i/766095

Contents of this Issue


Page 34 of 51

www.fueloilnews.com | FUEL OIL NEWS | JANUARY 2017 35 trusted partner providing nationwide sales, service and warranty for Nikola Motor Company." Commenting on the new strategic partnership, Ryder's President of Global Fleet Management Solutions Dennis Cooke said, "We commend Nikola for its leadership in zero-emission vehicles, and for its decision to partner with Ryder as their exclu- sive nationwide distribution and maintenance provider. This relationship is key to expanding our advanced vehicle technology portfolio of innovative solutions. Ryder continually monitors emerging fleet technologies and seeks to establish relationships with companies that are leading innovation within the commercial transportation industry." In addition to Ryder System's national coverage, Thompson Machinery, a Caterpillar dealer with locations in Tennessee and Mississippi, and an early investor in Nikola Motor Company, will offer sales and service in those two states. Nikola Motor also unveiled it plans for a 1,000 lb., 107 kWh battery pack for its electric UTV, the Nikola Zero. "Our battery engineers have made major advances in storage and cooling," said Milton. "We believe our lithium battery packs are more energy dense and weigh less than any available vehicle production pack per kWh. This new battery pack should give our UTV over 300 miles of range on a single charge," added Milton. Nikola plans to offer its patent-pending battery packs to OEMs for purchase beginning in 2017. Nikola Motor Company designs and manufactures electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. The company is privately-held. Research firm Frost & Sullivan, Mountain View, Calif., noted that trucking companies continuously seek to lower total cost of ownership (TCO) of trucks. Fuel, lease, repair and maintenance costs contribute to over half of a truck's TCO, Frost & Sullivan said. The Nikola One truck, an electric Class 8 tractor backed by hydrogen fuel cell range extenders, will come with lower-than- market fuel prices, free maintenance, a "compelling" lease plan and ultimately, lower TCO, the research firm said. "Tightening emission and fuel efficiency standards will increas- ingly push all the major original equipment manufacturers in North America toward an electric-hybrid alternative," said Frost & Sullivan Mobility Industry Analyst Marshall Martin. "Nikola Motor is expected to pioneer the penetration of electric-hybrid trucks in the heavy-duty, long-haul segment, taking on big players such as Daimler and Volvo." The innovative technology is expected to be bolstered by a seemingly robust business model that would see Nikola Motors lease its trucks for a flexible monthly amount inclusive of lease payment, unlimited miles, warranty, maintenance and fuel. The amount could change according to demand, customer require- ment, competition and business environment. "Nikola One trucks are expected to offer annual savings of $21,127 on lease purchase over an average Class 8 diesel truck," stated Martin. "For no additional cost, a new Nikola One truck could be traded every seven years or 1,000,000 miles." The business model and value proposition are designed to drive growth in the market and enable Nikola Motor to gain significant future market share, Martin said. However, he noted that rival OEMs, already well-established in the market, have strong plans in place for the segment and "could compete on an equal footing in the future with Nikola Motor." l F O N Left: The cab interior of the Nikola One. Right: The Nikola One truck is an electric Class 8 tractor backed by hydrogen fuel cell range extenders.

Articles in this issue

Links on this page

Archives of this issue

view archives of Fuel Oil News - Fuel Oil News - January 2017