Better Electric Truck Stock: Nikola or Hyzon Motors
Advancements in battery technology and a rapid growth in battery electric vehicles (BEVs) caused interest in hydrogen fuel cell electric vehicles (FCEVs) to dwindle. However, supply chain challenges relating to key battery materials and metals have once again highlighted that BEVs and FCEVs are not competing but complimentary in helping the world move away from fossil fuels.
The use of hydrogen is especially promising in the heavy-duty truck segment where batteries haven't proved to be very effective so far. Both Nikola (NASDAQ: NKLA) and Hyzon Motors (NASDAQ: HYZN) operate in this market segment. Let's discuss which of the two electric truck makers looks better right now.
Nikola makes both fuel cell and battery electric trucks. It began production of its saleable battery electric truck, Tre BEV, on March 21. On the other hand, production of its fuel cell truck, Tre FCEV, is expected to begin in the second half of 2023.
Source Fool.com
