Nikola expects Inflation Reduction Act to lower hydrogen, truck costs

Oct 20 (Reuters) – Incentives provided by the recently passed Inflation Reduction Act (IRA) will help Nikola Corp (NKLA.O) by lowering costs of its electric trucks and hydrogen energy business, the electric vehicle maker said on Thursday.The act, which U.S. President Joe Biden signed in August, provides incentives designed to bring more battery and electric vehicle manufacturing into the United States.The legislation will help enable Nikola’s semi-trucks to be competitive on a total cost of ownership basis compared to diesel-powered trucks, the Phoenix, Arizona-based company said.Register now for FREE unlimited access to Reuters.comRegisterNikola revealed that it plans to build up to 60 hydrogen-dispensing stations by 2026 and enable access to up to 300 metric tons of low-carbon hydrogen supply.The IRA’s tax credits and incentives would lower cost of hydrogen, dispensing…

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