Nikola Tre BEV approved for NY incentives offering savings up to $185k per truck

by Jun 10, 2022

After a rollercoaster start consisting of multiple detriments such as fraud, embezzlement, and an eventual inquiry by the Securities Exchange Commission (SEC) that ended with a penalty of $125 million, Nikola Corporation has finally begun to find the footing it needed to deliver on their promises of revolutionizing the Electric Truck market.

Nikola’s Tre BEV, one of the most sought after product ever since its initial introduction, has now successfully qualified for yet another state incentive program for fleet customers. Nikola announced that the battery electric Nikola Tre is eligible for the New York Truck Voucher Incentive Program (NYTVIP), under which the Nikola Tre BEV can now qualify for an incentive up to $185,000 per truck.
This past March, Nikola began serial production of its Tre BEV truck in Coolidge, Arizona, followed by first deliveries in April. That being said, the automaker only reported eleven Tre BEV deliveries for Q1 of 2022. However, Nikola has reported a total of over 500 inquiries for the Tre trucks in Q1, and already had a PO in place for 134 trucks for customers in California. Those commercial customers were more than likely hardened in their truck purchases as the BEV qualified for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) this past January. The HVIP is a California based incentive program offering subsidies ranging from $45,000 to $120,000 per electric truck.
The Tre BEV has been deemed eligible for the NYTVIP by the New York State Energy Research and Development Authority (NYSERDA). As an approved ZEV in the NYTVIP, Nikola Tre BEV purchasers in NY now qualify for an incentive up to $185,000 per truck, with a scrappage requirement – meaning for every BEV purchase, the customer must turn in a qualifying combustion vehicle built before 2009 to be completely scrapped for good.

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