After Cathie Wood burned through Nikola's business model, Trevor Milton knew he had to find a solution. In this video, I cover Nikola Motors's new hydrogen "breakthrough" and why Trevor's numbers are totally off.
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Ever since nikola motors went ipo, many investors immediately caught the red flag nicola claims to have battery technology far superior to tesla's. Yet the automaker was still pursuing hydrogen now trevor milton claims to have achieved a record hydrogen breakthrough, as he claims to have brought costs down by 81.25 percent to three dollars per kilogram. In this video i'm going to cover nikola's, suspicious hydrogen breakthrough and why trevor's numbers are totally off if you're new to the channel. Please consider subscribing for more content like this and let's get right into it.
After kathy wood from arkhanvest burned through niklas business model, by showing that hydrogen is not practical trevor milton, the executive chairman of nikola motors had to find a solution to fix the story, even with the numbers provided by nicola back, then, hydrogen costs would still be three Times more expensive than electric, according to cappy's calculations, from the consumer's point of view, it is going to cost roughly three times as much so this is a 700 000 mile truck lease, and if you, if you tally up the cost to the trucker for the hydrogen, It will be three times as much as the cost would be for electricity. This was an obvious problem in trevor's science project trevor milton has now fixed the error in his business plan and claims to have achieved a record hydrogen breakthrough. This breakthrough, which focuses on bringing down the cost of hydrogen, has suddenly been achieved only after kathy wood made her calculations. The breakthrough was first mentioned on july 3.
2020, as he went on fuelcellworks.com to tell them that nikola is now approaching a cost level of two dollars and fifty cents per kilogram. Just three weeks later, trevor was featured on a baron's article where he stated that nikola can get the cost of hydrogen down to two to three dollars per kilogram. Most recently, he was interviewed on a channel named this week in startups to explain his new breakthrough. This breakthrough has been achieved not through changes in chemistry or methods, but through the economies of scale.
Now here's the key to hydrogen hydrogen up until like two years ago until nikola came along until we really changed the whole thing, hydrogen would have never worked. It was too expensive. We started at sixteen dollars, a kilogram which is like five times more than you would with with or three whatever three to five times a kilogram drive a truck eight miles. So would that drive like a normal car like five times that or ten times a normal car, a kilogram would give you like 40 miles, got it so a kilogram 16.8 miles is two dollars a mile yeah crazy, your own, bankrupt yeah.
So now now what we did is we've been able to drive hydrogen down to under four dollars a kilogram we're about three dollars a kilogram of hydrogen. Now so all of a sudden, those economics now make sense you're cheaper than diesel. You know you're down below that 30 cent per mile mark on on fuel. So now it makes total sense to to drive hydrogen and hydrogen is zero emission. How did you do that? How did you get from 14 to three? Is there some special sauce there yeah very simple, it's all about it's about standardization, so it's like a phone right when apple makes a phone they'll make 25 million or 100 million of the same thing yeah. So in america right now, there's no two: hydrogen stations that were actually developed on the same platform, they're all they're, all engineered from the ground up separately. So it's like your cost is outrageous and they have to but there's no standardization. So we we developed the first ever standard hydrogen station that can be produced in the thousands and that's the key.
As you just drive the cost down, yeah, that's uh. That was a big problem. We tackled! That's why we came into the market. We saw an opportunity to bring the cost of hydrogen down going zero emission and putting it on parity or lower than diesel and there's the first time in history.
That's been able to be done, so it went from about 16, a kilogram we're down now below four dollars. A kilogram and uh there's a lot of reasons for that. But the main one is standardization of a hydrogen station worldwide has allowed us to drive that cost down dramatically. So that's one of the reasons trevor always attempts to use fancy words that he doesn't understand.
For example, he claims that nikola is vertically integrated when the actual word he's looking for is outsourcing. Why are we? Why is a company have such a good name? Why are we? Why do we have so many people rallying behind us? It's because we're the only group. That's really thought out the entire process vertically integrated from beginning to end, where there's no there's very little risk in the in in our model now, and that oem will actually build it service. It warranty it and sell it for us now.
Trevor claims to have standardized hydrogen, but how is that even possible when you haven't even sold a single vehicle? Standardization means achieving a global economy of scale, which leads to the lowest unit cost. By definition, to have achieved, standardization means that one cost fits on a global scale and that procedures are standard to ensure consistent quality nicola not only hasn't achieved a global scale of production, but also a local scale. After all, the economies of scale don't work out when you haven't even sold a single product, yet trevor dropped out of utah valley college after one semester, but i would recommend that he should study at least basic economics. I could not learn from a book.
It was impossible, i he i was i'm able to learn from paragraphs. I can't read. I can't read books, so what i have to do is i have to jump from subject to subject to subject. I have to you know, and then i can go back to the other subject and read another paragraph jason, who is interviewing trevor milton on this week in startups, caught the red flags and grilled trevor on the subject of hydrogen, but with hydrogen. How would you fill the tank if you have yet to build the network? Well, in some states, like california, hydrogen, you already have you know a lot of hydrogen stations, but we have 700 hydrogen stations going up right now throughout america, and it's just going to take time. We won't sell hydrogen in every market, we're going to say, look as soon as our station comes online, then you can buy the hydrogen version. Why would somebody buy the hydrogen because it's it seems like we said earlier, that battery kicks hydrogen's ass in low load situations? If we take that as a given, who has a pickup truck, that's going to be going for 10 hours, hauling, something huge that seems like a tiny part of the market. What even? What is that market? No about 30 to 40 percent of the pickup truck market? Actually uses their truck for working pulse trailers, so in that situation you do not want a battery truck.
You know if you pull a trailer with a tesla model x right now you lose about 60 70 percent of your range, so you're talking about getting a you know, you can't put a trailer on there and go more than 100 miles on a on a cyber Truck without a dying or 150., so the idea here is that, if you can, with hydrogen, you can allow that truck to pull a trailer. You know it'll, give you a 600 mile range without a trailer about a 300 mile range with it, and so that's it's made for the construction world. The people pulling trailers the business owners, the guys going to job sites or those trying to power a job site or those hauling big loads, and that's what it's for on the uh that that's what it was made for for the hydrogen version trevor pointed out a Sub of a major problem in his explanation supporting hydrogen. He claims that on the tesla model x, the vehicle loses 60 to 70 percent of his range when pulling a trailer shortly after he claims that his hydrogen truck gives a 600 mile range without a trailer and a 300 mile range, with a trailer even with trevor's Suspiciously groundbreaking numbers, the truck, still loses 50 percent of its range when pulling a trailer, which is the difference that is not enough to make up for the fact that hydrogen is still far more expensive than electric.
Now, one of the ways nicola attempts to look legit is through its groundbreaking factory. The automaker claims that production is beginning to ramp up, but don't be fooled because all they've done is dig up a few pieces of dirt. One of the things they say is water is life. I don't know of a more fitting quote coming from their community nicola is turning water into an energy through hydrogen that can power our world indefinitely.
Water truly is life. The lightning is starting to strike right over. Here, hurry, we got ta, go the storm's coming it's coming literally one two three elon musk supports competition and it's certainly fantastic to see the nikola board finally choose a site for its factory. However, the fraud still needs to be pointed out, because nikola claims that construction has already started. Youtuber jessica curse recently brought this to attention as she went to nicolas factory and saw that nothing was there. We want to make things better, so i'm super pleased to be here and start with the construction on this factory. Construction starts today. Construction site construction starts today groundbreaking.
It appears as though yeah they did break some ground up. There likely ribbon cutting groundbreaking. So maybe that's part of the spring that was cut. Let me know what you think about nikola's new hydrogen breakthrough in the comment section below.
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and the tesla fuddsters are worried about battery bottlenecks and availability of rare earth battery materials? DO YOU HAVE ANY IDEA how much platinum costs & how RARE it is? let me give you a clue: if you took EVERY LAST OUNCE OF PLATINUM ON THE PLANET and put all of it into FCEV production- you'd run out of fuel cell production LONG before 50% adoption.
he's full of shit… AGAIN. here's what he's NOT telling you. hydrogen is NOT an energy source. hydrogen is ONLY a way to STORE energy… .like a battery. that being said- ALL fuel cell vehicles (FCV's) have ALL the components of an EV. nikola semi has ALL THE SAME components as a tesla semi… BUT- the lithium ion battery that powers the electric motors is small- so, they add a hydrogen fuel cell to keep that small battery charged, therefore extending the range. sounds smart right? WRONG. first- all the energy for an FCV STARTS as kwh's, JUST LIKE it does for the BEV. in the case of the BEV- you just plug in the truck- and charge it up, then drive. in the case of nikola, the whole process starts as KWH's… yes, then (in theory) you run electrolysis- THERE- RIGHT THERE- you lose 20% of your kwh's. next, you run the h2 through a cryogenic compressor, and you lose another 5% (actually more like 10- but we'll just say 5 to be optimistic). now- bear in mind- h2 does NOT like to stay in liquid form- to keep it in liquid form- say… in a tank at a fueling station, ready to go for the next vehicle that pulls up- you have to keep it cryogenically cooled. you can mitigate this by having only a small amount of storage & using a large & powerful cryogenic pump & h2 system that can fill on demand- but then your h2 generation & storage percentages increase- but- let's assume it stays at 5%.. again- be fair. now you fuel the nikola truck, or toyota mirai, etc. now the h2 has to pass through the fuel cell and get changed BACK into kwh's of energy… best case scenario.. you lose ANOTHER 40% of your stored energy. 20% + 5% + 40% = 65%! but? hey- let's just be optimistic and say that the h2 tech will get better with time & development and call it 50%.
EVEN if… there's an H2 station on every current gas station. EVEN if… EVERY step in the process is operating at peak efficiency & cost savings… you still have a vehicle that is 50% less efficient than THE WORST BEV ON THE PLANET. and that's not the worst problem. what's the worst problem?
big oil is the one providing the h2 and the stations. no one is going to invest in h2 otherwise. and how does big oil do it? they steam refine methane into h2- even MORE expensive than electrolysis. this is the only reason h2 is in existence commercially. the reason NO ONE will invest in h2 production otherwise? is for all the reasons I listed above. OR- we could just ask a really smart physicist & engineer & ceo of the most profitable corp's on the planet- HEY ELON- WHAT ABOUT H2? "h2 is stupid!".. thanks elon. huge fan-
there is one other 'snafoo' to deal with. the fuel cell itself. fuel cell tech has reached its' apex & made no further improvements since nasa & darpa first INVENTED the tech. it still uses platinum in its' catalyst, despite what the h2 enthusiasts keep touting…. 'new FC coming.. big breakthrough" oh yeah? when? where's the prototype? "coming soon"… yah? what? kind of like fusion is coming soon? that kind of coming soon? a theory in a computer model? or a functioning prototype in a lab? a pipe dream- that 's where. and to replace the FC on a toyota mirai is $35k, EVERY 200K MILES! current diesel trucks have a lifespan of about 1 million miles- and the fuel is cheaper than h2. the FC on a tractor trailor would be at a minimum 4x the size of a mirai. so.. an extra $140,000.00 EVERY 200K MILES!!??? yah. nikola motors is a dud. a bad idea, with a lousy fuel source & clueless founders.
.. and h2 is stupid. the only place it makes sense is maybe in aviation (until elon turns his attention to that) or perhaps container ships…. or on a rocket.. where you're already storing h2 anyway.
l recommended a professional broker to you guys sometime ago, can I get person who invested with her
comment below
let's gooooo
Well someone needs to bring their camera back to the construction site. Oh look, a building! Then look at the 'construction schedule' to see that everything is going 'as scheduled'.
Another FUD bites the dust.(Queen)
Let me explain some things to you because you make some fair points but Trevor was actually right about trucks pulling trailers. Battery power trucks SUCK BALLS at pulling trailers because batteries can't store a lot of power. On the other hand, hydrogen can store a LOT MORE power per unit volume than a battery can. So the truck can have a lot more energy in it to pull a trailer than a battery EV. I can promise you when all the people who get the Tesla trucks when (if) they ever come out start using them to pull trailers they will be very unhappy with the range reduction they will see and it will be a big deal for Tesla. Batteries just can't store much energy. Even if hydrogen is far less efficient (which it is) it starts out with a huge amount of excess energy when compared to a battery per unit volume so the fuel cell truck will ALWAYS be more capable than the EV truck. So the only real argument against hydrogen fuel cells is the cost of the fuel. They are definitely more capable than EVs in pretty much every way. What Trevor says about standardizing the hydrogen production plant is likely to bring down hydrogen costs considerably when those plants are built. So if they do build them like they say they are it will have a direct impact on fuel costs in the near future. So just because it doesn't currently make sense doesn't mean that their trucks won't make more sense than Tesla battery EV trucks in a few years. Because on paper, hydrogen fuel cell vehicles are vastly superior to battery EVs. The only downside is fuel prices and availability which can be easily fixed since hydrogen is pretty easy to make. Sure it isn't the most efficient process but it is more efficient than gasoline by a lot and it is clean and produces no harmful byproducts when used in a fuel cell vehicle. I mean, every major automaker is researching fuel cells for a reason and designing fuel cell vehicles for their future offerings like Toyota, Honda, etc. Very big names who have excellent engineering pedigrees. So you really can't say the technology is dead and be taken seriously by anyone who knows what they are talking about. Also consider that when Elon doesn't like fuel cells it may be of his own personal interest seeing he owns a directly competing technology. I mean please use your brain, it was given to you for a reason when you were born. Stop repeating what people tell you and think logically.
I love how you guys are all hating on him but as a visionary who is in the process of getting things running this is what he plans to bring to the world and if he successfully gets the cost down of hydrogen which it is becoming cheaper and more efficient than gas or diesel this will be the future you should understand that even Elon musk was given a lot of shit when he was trying to start his business
Uhhhh… Yes, but Elon's truck has no load on it when he tested it. Which means it can drive at a very short distance compared to hydrogen truck, plus you have to refuel very often, and it takes like 30 min. or so to recharge it, which in tern have a lot less ROI. EVs are great for short distance travel, but it's not practical for big load, and or long distance applicatons, unless there will be a battery breakthrough like for example if a quantum battery (I'm not joking, they are working on it) became a reality, it will be better than HFCVs for every application.
Andrew Lund is right, hydrogen trucks “provide technical solutions that other technologies cannot meet in the long run.” So why bother with battery trucks in the interim when we will end up with hydrogen trucks anyway. Why make it a two-step transition when we can make it a one-step transition and go to hydrogen directly. And why keep worrying about hydrogen filling stations. They will come soon enough — around the same time that hydrogen trucks and hydrogen cars come. Gas filling stations didn’t come overnight either.
So Elon can go on and on about stainability but what it's never really mentioned on his end is the cost and freedom and blood and that's why hydrogen deserves the infrastructure and the focus because as long as we're using batteries we will be going to war and that's unfortunate because it's sustainable as war might be it is very short-sighted to say the least trust me I know I've been to war and I know what it was for and it is despicable but we live in we learn and we try to have a little integrity..
If you don't know what I'm talking about look up elon's tweet about how we'll cool who we want to cool and dig into that steaming pile up a little bit. Freedom may be free but it costs a lot of blood sweat and tears, so think about that for a minute and decide which one you'd rather pay in because the cost will be paid whether you like it or not and that doesn't mean it's going to be your blood sweat and tears but just remember you decide to kind of person that you.
In order to standardized a product ,,,you need to beat the competition in sales at first
REMEMBER the times when cam recorder system BETA vs VHF were on the market ,,, despite the previous success of Sony ,,, the company was force to throw the gloves and V H F became the standard.
I'm genuinely impressed with his ability to spout out these lies with a straight face.
People invest billions after seeing some rendering. Kinda stupid
Half fuel cost is road taxes you think trucks are not going to pay road tax ?? You think the roads well free to use ???
Ms. Mara.should back away from expensive hydrogen gas,(do proper background checks on your new business partners), and get ready to buy GMs batterys from Tesla, to build their electric cars, GM would benefit greatly by hiring Volkswagens former CEO who is available and played a huge role in keeping VW relevant.
Their Semi doesn't even run , and CEO got canned its a fake company. And isn't it funny everything is a Tesla killer now.
The ease with which he can lie at such a rapid pace is amazing.
The biggest problem with hydrogen fuel is the cost and safety. You know how dangerous it is to store hydrogen in liquid form?
The stock is still not at 0.
Nicola can roll a truck down a hill on no hydrogen at all. Isn't that great.
Its going to be fun watching this In 5 years.
Did he say 1kg of petrol gets you 40miles? lol. no
you open by saying lets hit nikola? wtf some people saying gm ceo was placed in jv company that made Nikola go public and vector iq may have been sharing internal info into to gm, prior, during and after , he is set to be CEO of Nikola now ?? so if there is a thread of truth in that it is a obvious play to tank company and take out Trevor and possible take out technology or maybe just a coincidence a staff of gm moved into a jv company VectoIQ joining to Nikola than Nikola partnered with gm and than they force Trevor out ?? and that gm become ceo and now control Trevor publicity and resignation Nikola adds Stephen Girsky, current CEO of VectoIQ and former Vice Chairman of General Motors and gm staff takes his place , than doing back deal to gm ? now talking gm to gm ? forcing Trevor to shut up and take it ? ,maybe gm did not know anything till last week ? but i doubt that very much just crazy TREVOR MUST BE UPSET BY THIS FOR SURE , so Trevor got played and the smoke is so thick and well funded people (possibly some good stock review people) are turning on Trevor ? do they know this info??? if they do they are in on it , if they don't they should be told.
Nikola is a fraud and I wonder why you to keep these videos online?
Anyone still think this is anything other than a scam? Anyone still think the Hydrogen has a future?
I see today that Wallmart has increased it's reservations for the Tesla Semi to 150 vehicles. I'm sure the flood gates will open on orders as soon as production begins in earnest. The new battery announced at the Battery Day event increases battery density by over 50% and at the same time reducing costs by over 50%. Where does that leave Hydrogen? Nowhere. They missed the boat, and the window of opportunity just slammed in their face.
High temperature nuclear reactors splitting H2O can be a game changer in producing cheap hydrogen.
Renewables need energy storage hydrogen is great for that. if batteries are used then batteries would charge batteries on your EV. Off peak nuclear plants midnight to 6am can produce hydrogen and charge EV's. If you had a race from NY to LA the hydrogen would win hands down because of fueling time 5min compare to 2hr. min. for battery EV. If you search Fuel Cell forklift trucks they are great for 24/7 high usage use. Also you need more hydrogen fuel stations now but once they are built there would be less needed. one hydrogen fuel station can out perform 40 electric charging stations because of fueling time for 5min compare to 120min. So one hydrogen station in 2hr.
can give 60 cars a range of 600km each. one battery charging station could fuel just one car in 2hr for the same range. So does that mean 60 battery charging stations for 1 hydrogen station. For a fast charge station for a 40min charge time. 120min/40 would charge 3 battery cars. So at best 60/3 = 20 Ev battery charging stations per one hydrogen station. I predict Hydrogen will take over high use vehicles like long hale trucks, 24/7 forklifts , Taxies UPS drivers & city busses. I live in Thompson Man. Canada it was minus 40 this last January so how will that effect the battery life? Also sitting in a cold car minus 40 is not fun. burn hydrogen inside the car to warm it up no heat exchanger required. no danger of carbon monoxide poisoning.
So charging time and high usage changes everything.
So there will be 2 systems in the long run 1hr drive to work and long hall heavy load distances. It's cheaper to pay a trucker 5min to fuel his truck for a 600 mile range the to pay him for 2hr to wait till his batteries charge. So from NY to LA race moving a 10 ton load a hydrogen powered truck will win every time.
Best regards Gary
Nikola belly flopped…Will it recover? I don't know where this will end up but things certainly don't look good for Nicola investors…Batteries have been refined and hydrogen is still in a mostly primitive state of development…
If hydrogen works, please build something with it and show me that it works. It doesn't need to be a semi. Maybe a go-cart?, Weed wacker? Or anything. Please!
The cheapest way to hydrogen is SMR. To make 1kg of it, 3.6 m3 natural gas is needed. Do the math – on the cost of the feed alone, without CAPEX, witnout OPEX – and that's enough to stop the gong show. Another problem I don't ever see discussed, is how to keep this Houdini of the periodic table of elements safely bottled up. When H2 expands, it has the nasty habit to heat up and self-ignite. And unless in a total dark, you just don't see the flame. Plus, when mixed wirh air, H2 explodes over a broad range of mix ratios, like from 3 to 90+%. Then. it cannot be distributed as liquid, but only as a gas, thus requiring huge, thick walled and therefore rather heavy containers. There also is something called hydrogen embrittlenent of steal. Oh well
I am sorry, but he is full of shit. Problem with hydrogen(parahydrogen) is that require a lot of amps to break the bond. The salt water would be the best if not the deadly gas when using stainless steal. The 2 stage is the best as require very little power. the 2 stage is – first – using ultrasonic – fog the water and then direct the fog into fuel cell.
Don't believe him! Nicola are on the cusp of going bust!
Thermodynamics is GOD! There is no special sauce or miracle way of producing hydrogen cheaply! Hydrogen is a highly inefficient low density energy source! Hydrogen fuel cells are a stupid idea and for all the zero emissions they have that is destroyed if you have to take energy from the grid to make the hydrogen in the first place! 🙄 Trevor Milton is a FRAUD! Nikola is a FRAUD! Anyone who picks up a few text books for a few hours would work out their claims are BULLSHIT