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Nikola Motor unveils 1,000 HP hydrogen-electric truck with 1,200 mi. range
Nikola Motor Company unveiled its zero emissions Class 8 truck at company headquarters this week. Dubbed the Nikola One, the once all-electric prototype now hydrogen powered, boasts an incredible 1,200 miles of range and will be stiff competition for Tesla’s planned entry into the long haul trucking segment with its all-electric Tesla Semi.
Nikola One is sleek and futuristic. Because it has no diesel engine, the cab can be pushed forward as far as possible to give the driver a panoramic view of the road ahead. Individual electric motors for each of its six wheels provides an incredible 1,000 horsepower and 2,000 lb-ft of torque. Both numbers are considerably higher than for a typical tractor.
Power comes from a 320 kWh battery developed by the company. “Our battery engineers have made major advances in storage and cooling,” said Nikola founder and CEO Trevor Milton. “We believe our lithium battery packs are more energy dense and weigh less than any available vehicle production pack per kWh.”
The company had previously designed Nikola One as an electric truck that would have a range extender via a turbine powered by natural gas. But at the reveal, the company announced the turbine has been replaced by a hydrogen fuel cell that will keep the battery charged and provide a range between 800 to 1,200 miles.
The prototype on display this week is technological marvel. An array of sensors and cameras permit the driver to have a full 360º view around the entire rig at all times, eliminating blind spots all together. Inside the cab there is room for a one or two full size beds, a refrigerator/freezer, a 40″ curved 4K TV with Apple TV, as well as Wi-Fi and 4G LTE connectivity. Comfort and convenience for the driver will be unparalleled.
The company says it is evaluating a number of locations for its factory. “Nikola will build a world-class advanced manufacturing facility which will create thousands of new jobs,” says Trevor Milton. He claims the factory will be able to build 50,000 trucks a year by 2020.
So far, one might be forgiven for thinking the Nikola One is mostly vaporware except for one thing. The company has struck a deal with Ryder Systems, which has agreed to be Nikola’s exclusive nationwide distribution and maintenance provider. Ryder has a network of over 800 service locations in North America today.
“We are extremely excited to finally show off the Nikola One to the public for the first time,” said Milton. “There are many out there that wondered if we would deliver, but today we proudly show off the most advanced semi-truck ever built. We couldn’t be more thrilled to have one of the best brands in America, Ryder, as our trusted partner providing nationwide sales, service and warranty for Nikola Motor Company.”
The financial plan for the company calls for leasing the trucks for 72 months at rates of between $5,000 and $7,000 a month. The lease fee will cover all scheduled maintenance at a Ryder facility and the cost of hydrogen fuel. Talking a page from the Tesla playbook, Nikola is accepting reservations for its battery/fuel cell Class 8 truck. It says it has received billions of dollars worth of deposits which cost $1,500 and are fully refundable.
Meanwhile, Elon Musk has let it be known that he also has his eye on the heavy truck market. We can be sure his vision for a Tesla Semi won’t involve any onboard fossil fueled range extender engines or what he dismissively calls “fool cells.”
The Coast of Hydrogen
Nikola says it intends to develop a network of 350 hydrogen fueling stations across North America for its trucks, beginning in 2018. It would be similar to the Supercharger network Tesla has been building to support long distance travel for its fleet of electric cars. But here’s the rub.
Hydrogen refueling stations cost $2 million or more to construct. It is estimated that a typical Tesla Supercharger location costs about one tenth as much to build. Exactly who will be paying for the hydrogen refueling system is unclear. And there are other issues with using hydrogen. Yes, the waste products of a fuel cell are water vapor and heat. But getting the hydrogen requires tremendous amounts of energy.
In the US, most hydrogen is derived from natural gas. Take the process back a step or two and that natural gas is often the result of fracking, a process that at the very least is controversial and at worst results in heavy pollution of the land and groundwater in the vicinity. Whether the Nikola One can accurately be called “zero emissions” is a matter for debate.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI
Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
