Nikola Motors Refund of Deposits is Just Smoke and Mirrors. They are Making Money on Pre Orders and Can Afford to Give Back Deposits. It's Basically Taking Money Out of One Pocket and Getting it From Another.

Nikola Motor takes swipe at Tesla Semi as it refunds all deposits for its electric-hydrogen truck

Nikola Motor, a company developing several electric vehicles, including a battery-electric and hydrogen fuel cell semi truck, announced that it is refunding all deposits for reservations on its trucks and it took a swipe at Tesla in the process.

From article, (Nikola Motor, a company developing several electric vehicles, including a battery-electric and hydrogen fuel cell semi truck, announced that it is refunding all deposits for reservations on its trucks and it took a swipe at Tesla in the process.

the company has a bad habit of taking unnecessary shots at Tesla, which Nikola has been arguably modeling itself after in some ways – not only because of their name, but also for launching an energy division just like Tesla.

In its latest announcement, the company says that it is refunding all deposits for reservations on its trucks:

“Great news! All reservations will be refunded 100% and you won’t lose your place in line. We don’t use your money to operate our business. We want everyone to know we have never used a dollar of deposit money to operate the company on like other companies do. You can now reserve the Nikola One and Two at https://nikolamotor.com/without any deposits. Our support team will be reaching out to everyone to refund their deposits over the next 30-60 days. How awesome is that!!!!!! Over 8 billion in pre orders, so who needs deposits.”

The reference to “other companies” is undoubtedly a swipe at Tesla, which is taking $20,000 reservations for the Tesla Semi electric truck.

It’s not the first time that companies have attacked Tesla over their reservation process. Nissan also criticized it in a series of ads in 2016.

The Nikola One and Two will reportedly be equipped a 320 kWh battery pack and a fuel cell system, which Bosch is helping design.  After launching the vehicle in 2016, Nikola claimed to have a backlog of 7,000 orders worth $2.3 billion.

Now they have claimed that it increased to $8 billion over the last 2 years.)

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Me, "Nikola Motors Refund of Deposits is Just Smoke and Mirrors. They are Making Money on Pre Orders and Can Afford to Give Back Deposits. It's Basically Taking Money Out of One Pocket and Getting it From Another. I mean let's face it. What is a deposit? Your paying part of the cost of the Vehicle up front. What is a Pre-Order? You are paying all the cost of the Vehicle upfront. So, what really is the difference? This is just a publicity stunt people. Read between the lines!!!"