Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Nikola Jabs Tesla - Vows to Return Pre-Production Deposit Money

In a Tweet on April 4, 2018, electric truck OEM Nikola said it did not need deposit money to operate its busines -- an apparent jab at Tesla's long-rumored financial troubles.

by Staff
April 5, 2018
Nikola Jabs Tesla - Vows to Return Pre-Production Deposit Money

In a recent tweet apparently aimed at Tesla, electric truck OEM Nikola said it did not need customer deposits to run its business. Photo: Tom Berg

2 min to read


In a recent tweet apparently aimed at Tesla, electric truck OEM Nikola said it did not need customer deposits to run its business. Photo: Tom Berg

As impressive, and multifaceted a company as Tesla is, its financial health has been subject to vigorous public debate for over a year now. So it was only a matter of time before its competitors in the rapidly-expanding electric truck market began taking jabs at the tech company founded by Elon Musk.

In a Tweet on Wednesday, April, 4, 2018, electric truck OEM Nikola announced that it would refund 100% of the deposit money invested by customers with no loss of place “in line” for trucks ordered. The Tweet went on to say that “We don't use your money to operate our business. We want everyone to know we have never used a dollar of deposit money in the history of our company” – an apparent jab at Tesla, which financial analysts widely suspect is using millions of dollars in deposit money placed by Semi electric truck customers to simply keep the company’s lights on and doors open.

Ad Loading...

In a subsequent Tweet, Nikola boasted that new customers would be able to pre-order a Nikola truck without placing a deposit down, adding that with over “8 + billion” in pre-order reservations in-hand, it did not need deposits “any way.” Presumably, Nikola means that it has $8 billion worth of orders for its truck already on the books, although in the past Nikola has said it has 8,000 pre-orders in hand for its Class 8 electric truck, which it plans to build in a $1 billion manufacturing plant in Arizona with serial production slated to begin in 2021.

Tesla has previously announced that it will being serial production of its Semi electric truck next year. Musk’s company has not been as forthcoming concerning Semi orders, although the company is requiring a $5,000 deposit for each Semi ordered before production begins. According to published reports, Tesla’s Top 10 largest orders total 327 trucks, totaling more than $2 million in deposits, assuming those customers paid the publically announced amount for each truck reserved.

Tesla’s Semi truck features an all-electric drivetrain, while Nikola has announced it will use a combination of hydrogen fuel cells and electric motors to power its trucks.

More Fuel Smarts

Illustration with oil wells, dollar bills, and a diesel fuel pump
Fuel Smarts•by Deborah Lockridge•October 14, 2026

Why Diesel Price Relief Efforts May Fall Short

Diesel prices have eased from September’s record high, but doubts about additional Russian supply and limits on dyed-diesel tax relief mean trucking fleets still face expensive fuel. And prices could go higher.

Read More →
Video thumbnail with text: Fuel -- small gains, big savings.
Fuel Smarts•October 12, 2026

Why Small Fuel Savings Matter in Trucking

Can better fuel economy help pay for driver raises? In this podcast, GP Transco explains how small efficiency gains create room to reinvest in its people.

Read More →
Youtube thumbnail showing two people with a truck and the word "fuel" behind them, the HDT Talks Trucking logo, and the words "Small Gains. Big Savings."
Fuel Smarts•by Deborah Lockridge•October 12, 2026

How GP Transco Cuts Trucking Fuel Costs, a Tenth of a Gallon at a Time

What’s another tenth of a mile per gallon worth? GP Transco shares how equipment upgrades and driver coaching turn small gains into meaningful fuel savings.

Read More →
Ad Loading...
Photo of electric OrangeEV terminal tractor with a Lazer Logistics trailer
Equipment•by Staff•October 6, 2026

Electric Yard Tractors Move Beyond Pilots

Operating-cost savings have overtaken sustainability goals as the leading reason surveyed fleets are adopting battery-electric terminal tractors, according to new NACFE research.

Read More →
Illustration of map with GPS markers overlaid with Geotab fleet card and a fuel pump nozzle
Fuel Smarts•by Staff•October 2, 2026

Geotab Links Fleet Card to Vehicle Data

The new card combines fuel discounts with telematics-based purchase controls. Geotab’s analysis also points to potential savings from choosing lower-priced fuel stops.

Read More →
White Tesla Semi electric truck on display on a show floor
Equipment•by Staff•September 30, 2026

Fleet Economics Shape Electric Truck Outlook

ACT Research expects costs, charging infrastructure, and technology improvements to drive zero-emission commercial vehicle adoption as federal regulations and incentives retreat.

Read More →
Ad Loading...
Male truck driver in flannel shirt by truck using his smartphone
Fuel Smarts•by News/Media Release•September 23, 2026

Wex Adds Cardless Fuel Payments for Over-the-Road Customers

A new fuel card feature for Wex customers offers convenience and security.

Read More →
Fuel Smarts•by Staff•September 21, 2026

New California Law Could Shed Light on Electric Truck Prices

Why do battery-electric Class 8 trucks remain so expensive? A California bill signed by Gov. Gavin Newsom would give fleets and state agencies more visibility into what manufacturers charge.

Read More →
Video still of Volvo's Duane Tegels explaining the Volvo D13 diesel engine for EPA 2027 emissions
Equipment•by Deborah Lockridge•September 16, 2026

How Volvo Updated Its D13 for EPA 2027 [Watch]

Volvo’s updated D13 promises lower emissions without sacrificing performance or fuel economy. Take a closer look at what changed inside the engine in this HDT Spotlight video.

Read More →
Ad Loading...
Collage of fuel options for trucks - renewable diesel, renewable natural gas, diesel, and electric
Fuel Smarts•by Staff•September 15, 2026

Diesel Price Spike Shortens Payback for Natural Gas Trucks, Report Says

Energy Vision estimates fleets could recover the higher purchase price of an RNG-fueled Class 8 tractor in 1.3 to 2.8 years under current fuel-price scenarios.

Read More →