Hyroad Energy snaps up 113 hydrogen trucks from Nikola bankruptcy auction
Hyroad Energy has bought 113 hydrogen fuel cell trucks and related assets from the Nikola Corporation bankruptcy auction for $3.85million – a fraction of their estimated $50million-plus value, in a deal that gives the Austin-based firm immediate capacity to grow its zero-emission fleet.
The package includes 103 brand-new Nikola Tre fuel cell electric trucks, plus ten additional vehicles, along with spare parts, software platforms and intellectual property linked to the model.
At retail, the trucks and equipment would have fetched over $50 million – making Hyroad’s $3.85 million purchase a roughly 92% discount.
Hyroad said it will also take on the operational infrastructure needed to maintain the trucks, including establishing dedicated maintenance and parts facilities.
The vehicles will be deployed primarily in California, where Hyroad is building out hydrogen refuelling infrastructure for its customers. The company will also support Nikola trucks already in service to “enable the continuity and growth” of the US hydrogen trucking market.
“These trucks and the corresponding equipment and systems represent immediate capacity to put proven hydrogen fuel cell technology on the road to meet demand for zero-emission trucks,” said Dmitry Serov, Hyroad’s CEO and founder.
Hyroad operates a truck-as-a-service model, charging fleets per mile and removing the need for large upfront capital outlay.
That approach, combined with the new assets, positions the company to scale up quickly in a state that is pushing hard on zero-emission freight targets.
Hyroad now holds one of the largest dedicated fuel cell truck fleets in the country, inheriting a key part of Nikola’s former foothold just months after the troubled manufacturer filed for bankruptcy.
