NIKOLA ADDS INDUSTRY VETERAN TO LEAD TRUCK SALES AND SERVICE

Bruce Kurtt named Senior Vice President, Sales and Commercial Operations

PHOENIX, Nov. 16, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, today announced that Bruce Kurtt has joined its executive team as Senior Vice President of Sales and Commercial Operations.

Reporting to Nikola President and CEO, Michael Lohscheller, Kurtt will lead all commercial activities for Nikola, including oversight for its sales, sales operations, dealer support and relationships, charging solutions, and service and warranty teams. He succeeds Pablo Koziner, who has elected to leave the company in December.

For over 30 years, Kurtt has held executive leadership roles in the heavy and medium duty commercial vehicle industry. He has served in senior level commercial positions on the manufacturing side with Volvo and Navistar, and on the dealer side representing Kenworth and Mack. He has demonstrated significant results in market share growth, enhancing dealer revenue and increasing shareholder value. Kurtt has owned and operated truck dealerships, frequently earning International's Circle of Excellence Award.  In recent years, his passion for trucks and drive for improvement has led him to become an authority on the growth of alternative propulsion for commercial trucks, most recently with electric mobility. He holds a degree from the University of Southern Colorado.

"Now that our Nikola Tre battery-electric vehicles are driving on the road and are deliverable today, with our Nikola Tre hydrogen fuel cell electric vehicles following in 2023, Bruce's decades-long year career in the trucking industry is exactly what we need to get our trucks into the hands of customers who are committed to a zero-emissions future," said Michael Lohscheller, President and CEO, Nikola Corporation. "As we continue to make progress on the commercial delivery front, we are confident in Bruce's ability to help us intensify our dedicated sales coverage."

"I joined Nikola for one important reason:  they are ready now.  Nikola can deliver BEV trucks right away and FCEV trucks next year," said Kurtt.  "I believe we are ahead of every other OEM with sustainable products that are critical for our future."

The Nikola Tre BEV, with a range of up to 330 miles, started serial production in March 2022 and is available for immediate delivery. With an anticipated range of up to 500 miles, the Nikola Tre FCEV is expected to be available in 2023. To place an order or for more information, visit Nikola Electrify Your Fleet online.

"We are grateful to Pablo for his leadership and dedication to building out Nikola's dealer network and energy and commercial teams over the past few years, and sincerely wish him all the very best as he embarks on a new and exciting chapter in his life," said Lohscheller. "Pablo will work with Bruce over the next couple of weeks to enable a smooth transition for our customers and dealer partners."

Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.

Certain statements included in this press release that are not historical facts are forward-looking statements. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of Mr. Kurtt's appointment as Senior Vice President of Sales and Commercial Operations. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nikola's management. We cannot assure you that forward looking statements will be achieved and forward-looking statements are not predictions of actual performance. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to, the failure to realize the anticipated benefits of the agreement; design and manufacturing changes, challenges and delays; economic, financial, legal, supply chain, regulatory, political and business conditions and changes in domestic and foreign markets; the potential challenges arising from COVID-19; the outcome of legal, regulatory and judicial proceedings to which Nikola is, or may become a party; demand for and customer acceptance of Nikola's trucks; risks associated with development and testing of fuel cell power modules and hydrogen storage systems; risks related to the rollout of Nikola's business and the timing of expected business milestones, including delivery of trucks for sale; the effects of competition on Nikola's future business; the availability of capital; risks associated with changes in accounting treatment or accounting standards; and the other risks detailed from time to time in Nikola's reports filed with the Securities and Exchange Commission, including its quarterly report on Form 10-Q for the quarter ended September 30, 2022 and other documents Nikola files with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and Nikola specifically disclaims any obligation to update these forward-looking statements.

SOURCE Nikola Corporation