Muutama seikka, jotka osu silmään earnings callista.
Then Nikola – the Badger initiative entailed some $700 million, up to $700 million of investment in facility at GM. I mean some of us looking at it and saying, well, maybe it’s better not to proceed with that. Can you just kind of give us some sense of the nature of the spend with the GM deal plus Badger, plus the Badger versus a non-GM scenario. What kind of time line? And how long does the cash last before – how far do you get down your road map essentially in either scenario? And how quickly?
"As you know, and we have talked about this previously, with respect to GM transaction, it’s something that we are still in the works. And we feel confident that we’ll get greater clarity here in the next couple of weeks. But until then, then it’s going to be difficult in terms of sharing with you any additional vehicle. But you’re right to the extent that we move forward with the Badger, there is corresponding capital commitments. As we kind of think about that, ultimately, there are a number of perhaps considerations potentially that we could discuss with GM and potentially perhaps delay some of those commitments. But to the extent that we have to move forward then, of course, then we have to think about our capital expenditures closely. To give you some context, as we think about into 2022, 2021 and consider all of our priorities with respect to Nikola Tre BEV as well as Nikola Tre fuel cell for Europe as well as U.S., it is important that we prioritize our capital expenditures as well as operating expenditures. And right now, looking at our cash position, we feel pretty confident that we’ll be able to meet all of our operating commitments as well as CapEx with respect to our ongoing programs. Now in our estimation of the cash balance, we’re not including anything related to the Badger. However, we believe that based on existing cash that we have, that we should have adequate cash flow and still could end next year with $300 million or more cash on the balance sheet. Understanding that as we talked about last quarter, that at some point, we will consider going out to market and raising potential additional equity. And we always have suggested that we will do that likely a year in advance of when we actually need that cash. And so we – if we exclude cash need for CapEx related to the Badger, we think we will need out to market sometime, potentially middle of next year. But once again, this really depends on the market condition and when we think will be optimal time and when we can actually minimize any dilution in terms of our shares."
Can you just go over what milestones we can expect before year-end? I think in the past, you indicated a Tre order. You indicated a hydrogen partner. Just want to check, should we still expect those things before year-end? What has kind of been pushed out? And what kind of latest thinking there?
“We’re still targeting those dates. We would like to have an additional customer agreement announced by the end of the year, and we would like to have a collaboration on the station infrastructure hydrogen side announced by the end of the year. Those are still good targets for us, we think. Things got slowed down here just a little bit recently. We had some travel – that guy interrupted because of the increasing COVID restrictions in Europe. So we’ve had just a little bit of a slowdown in terms of being able to travel and things like that. But at this point, we’re still trying to get those deals done and ready for announcement by the end of the calendar year. If we didn’t get them done before New Year’s, I would anticipate they would not slip very far into the first of the year.”
