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Nikola (NKLA) released its first-quarter earnings on Tuesday, announcing it will refocus business operations in North America. After building sales momentum in Q1, Nikola says it will focus on what it knows best, including fuel cell trucks.

Nikola is refocusing its business in North America

Heavy-duty electric vehicle and FCEV maker Nikola said it produced 63 Tre battery electric trucks, delivering 31 to dealers and 33 in retail sales in the first three months of the year.

Nikola CEO Michael Lohscheller said the company would refocus business operations where it believes it has an advantage, including the North American market. Lohscheller stated during the company’s Q1 earnings:

We have the right products at the right time, and as we move forward, we will be focusing on the North American market, hydrogen fuel cell trucks, the HYLA hydrogen refueling business, and autonomous technologies.

As a result, Nikola is selling its stake in its European joint venture with Iveco Group. In exchange, Nikola will receive $35 million in cash and 20.6 million shares of stock returned to the company.

The Nikola and Iveco joint venture just revealed the Nikola Tre BEV truck designed for the European market last September, claiming it was looking to expand the partnership last quarter. Meanwhile, Iveco will continue to supply Nikola and is expected to remain a prominent investor.

Nikola believes it has a first-mover advantage in North America and can capture a good share of the commercial trucking market. The company says it’s also building out its hydrogen energy business to enable long-term growth.

The news comes as Nikola, among most EV startups, look to conserve cash with growing losses in the first quarter of 2023.

Nikola North American business
Nikola Tre BEV (Source: Nikola)

Nikola Q1 financial results and highlights

Nikola fell short of Wall St. estimates, reporting $11.1 million in revenue and an adjusted loss per share of 0.26 in the first quarter of 2023.

The commercial EV truck maker posted a net loss of $169.1 million compared to $152.9 million last year. Nikola ended the quarter with $121 million in cash, down from over $233 million in Q1 2022.

Higher losses are the result of the growing costs to manufacture and sell BEV and FCEV trucks, hence why Nikola is looking to double down on its business in the North American market rather than expand further into another market.

Nikola also said it would temporarily pause production in Coolidge at the end of May as it retools the assembly line for both hydrogen fuel cell and battery electric trucks on the same line. After the upgrades are complete, Nikola says the battery electric Tre will remain a built-to-order product.

Production is expected to resume in July, with the first hydrogen fuel cell trucks going on sale. Nikola anticipates it will begin battery module and pack manufacturing at the facility by the end of July and Bosch Fuel Cell Power Module assembly by the end of the year.

Nikola’s backlog for hydrogen fuel cell trucks grew to 140 orders from 12 customers as of Tuesday. The first two of 10 gamma hydrogen fuel cell trucks are completed, while the rest are expected to be done by the end of July.

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NextEra working with Exxon to develop gigawatt data center for hyperscaler

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NextEra working with Exxon to develop gigawatt data center for hyperscaler

Dado Ruvic | Reuters

NextEra Energy is partnering with Exxon Mobil, the country’s largest oil company, to build a large data center site powered by natural gas for a potential tech customer, CEO John Ketchum told investors Monday

The 1.2 gigawatt power plant would combine gas generation with Exxon’s carbon capture technology to reduce emissions, according to NextEra’s presentation to investors.

They plan to market the site to a hyperscaler in the first quarter of 2026. Hyperscalers are the big tech companies that are building data centers to train and run artificial intelligence applications. There is no signed agreement with a hyperscaler yet.

NextEra and Exxon have secured 2,500 acres of land for the facility. The site will be located in the Southeast in close proximity to Exxon’s carbon-dioxide pipeline infrastructure, according to NextEra.

NextEra is the largest renewable energy developer in the U.S., but it is leaning into natural gas to meet the growing demand from data centers. The power company plans to bring as much as eight gigawatts of gas generation online by 2032, and is developing a pipeline of 20 gigwatts of gas generation.

NextEra plans to build 15 gigawatts of power for data center hubs by 2035, Ketchum said. That includes at least three data center campuses that NextEra is developing with Alphabet‘s Google.

“A lot of those will get started with what I call bridge power — renewables, storage,” the CEO said. “We’re also at that same time planning for the gas to come behind it.”

The tech sector has primarily secured renewables and increasingly nuclear power to supply data centers in an effort to meet its climate targets.

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The Mercedes CLA EV crushes real-world range test, driving 434 miles

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The Mercedes CLA EV crushes real-world range test, driving 434 miles

Mercedes calls it the “one-liter” car for a reason. The new Mercedes CLA EV has an impressive EPA range of 374 miles, but in real-world driving, it can go even further.

Mercedes CLA EV beats EPA range in real-world driving

The new CLA EV might just be the most critical Mercedes model yet. It’s the first of the luxury brand’s latest generation of electric vehicles, promising to be much more advanced, efficient, and refined than ever before.

Powered by an 85 kWh battery pack, the 2026 Mercedes-Benz CLA 250+ has an EPA-estimated range of 374 miles.

Although that’s already among the highest for any 2026 model-year EV in the US, the electric CLA can drive even further in the real world.

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The folks at Edmunds just got their hands on one to test it out. In the Edmunds EV Range Test, the 2026 Mercedes CLA EV crushed its EPA figures, driving an impressive 434 miles on a single charge, beating its official ratings by 16%.

Mercedes-CLA-EV-range
The new Mercedes-Benz CLA EV (Source: Mercedes-Benz)

Out of 13 Mercedes models Edmunds has tested, the new CLA EV had the second-longest driving range, trailing only the EQS 450+. However, given that the EQS is a full-size sedan and significantly more expensive than the CLA, it’s expected.

The 2026 Tesla Model 3 Standard went 339 miles, while the 2026 Audi A6 E-tron drove 402 miles during the EV Range Test.

Mercedes-Benz-CLA-EV-range
The new electric Mercedes CLA (Source: Mercedes-Benz)

The Edmunds EV Range Test is 60% city and 40% highway driving with an average speed of 40 mph. Each vehicle is set to the most efficient drive setting, while the climate control is set to 72 degrees to reflect the most accurate real-world driving conditions drivers encounter each day.

During the test, the electric CLA used 23.2 kWh per 100 miles of driving, beating the EPA’s estimates by 16.5%.

On the Edmunds EV Charging Test, it had an average charge rate of 193 kW from 10% to 80%, earning a score of 833 miles per hour. That’s the second-best of those tested, behind the Hyundai IONIQ 6.

2026 Mercedes-Benz CLA trim Starting Price* Driving Range
CLA 250+ $47,250 374 miles
CLA 350 4MATIC $49,800 312 miles
2026 Mercedes-Benz CLA EV prices and driving range by trim (*does not include $1,250 destination fee)

The new Mercedes CLA EV is now the least expensive car they’ve tested, with over 400 miles of range. Last week, Mercedes launched the 2026 CLA 250+ EV, starting at $47,250.

Mercedes said it will begin delivering the first customer models this month, with output ramping up throughout early 2026.

Ready to test one out for yourself? We can help you get started. Check out our link to find the 2026 Mercedes-Benz CLA EV in your area.

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Tesla (TSLA) goes all out with new incentives in end-of-year sales push

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Tesla (TSLA) goes all out with new incentives in end-of-year sales push

Tesla is pulling every demand lever available as we head into the final weeks of the year. The automaker has launched a new set of aggressive incentives in the US, including free upgrades on inventory vehicles, 0% APR financing, and $0 down leases.

It’s the end of the quarter (and year), and as per usual, Tesla is trying to empty its inventory, but it’s more difficult this year due to the end of the tax credit in Q3 pulling a lot of demand away from Q4.

We have regularly reported on Tesla ramping up incentives at the end of the year, but this new batch is arguably the most aggressive we have seen in a long time.

First off, Tesla is offering one free upgrade on eligible inventory vehicles.

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If you go to Tesla’s inventory page for Model 3 or Model Y, you will see a lot of vehicles listed with a “Free Upgrade” tag. This basically means that if you pick a car that has a paid option, like a premium paint color (Ultra Red or Quicksilver), 20″ Induction wheels, or the White interior, Tesla is waiving the cost of that option.

That’s a value of anywhere from $1,000 to $2,500 depending on the option.

On top of that, Tesla has expanded its financing offers. The company is now offering 0% APR financing for up to 72 months on Model 3 and Model Y purchases.

This is a significant move. We have seen low interest rates before, but 0% for 72 months is basically free money, especially in the current interest rate environment.

But wait, there’s more.

For those looking to lease, Tesla has introduced $0 down leases for the Model Y.

Previously, Tesla required a down payment of at least $3,000 for its best lease rates. Now, you can drive off the lot with a Model Y for $0 down, though the monthly payments will obviously be higher than with a down payment.

Tesla writes on its website regarding the new push:

“Take delivery by December 31, 2025 to take advantage of these limited-time offers. Available on select inventory vehicles while supplies last.”

The automaker is clearly trying to deliver as many cars as possible before the ball drops on 2025.

Electrek’s Take

The end-of-year push is in full swing.

When you see Tesla stacking incentives like this, 0% financing, zero down, and free options, it tells you one thing: they have inventory to move.

With a lot of demand in the US pulled forward into Q3 due to the end of the tax credit for electric vehicles, it was always clear that Tesla would have trouble moving cars in Q4.

These are roughly the best end-of-quarter incentives we have ever seen, and even then, I’d be surprised if Tesla can come close to its record deliveries of last year’s Q4: 495,000 vehicles.

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