California is Pushing for All New Trucks Sold to be Zero-Emissions by 2045 | Financial Buzz

California is Pushing for All New Trucks Sold to be Zero-Emissions by 2045

California once again leads the way when it comes to climate change related legislation. In a new measure approved unanimously Thursday by the California Air Resources Board, the state will require automakers to sell more electric trucks starting in 2024 and by 2045 all new trucks sold in the state should be zero-emissions.

According to the Air Resources Board, zero-emission trucks have higher upfront costs but have lower operating costs than conventional trucks. Today, the total cost of ownership in California can be comparable to conventional trucks for certain duty cycles without grants or rebates. As battery prices fall and technology continues to improve, the total cost of ownership is expected to become more favorable. Incentives are currently available to offset some or all of the higher vehicle capital costs and some of the early infrastructure costs to help fleets begin transitioning to zero-emission vehicles now.

In meantime, Nikola Corporation (NASDAQ: NKLA), which debuted on the Nasdaq earlier this month, attracting attention by being an electric and hydrogen powered automaker with the goal of changing the trucking industry, announced Monday that preorders are now being accepted at 11 AM ET. Preorders received before November 15, 2020 will also be entered to win a Badger, receive a match of your deposit, up to $5,000 off the final purchase price of the vehicle, and be invited to the Badger debut at Nikola World, which is slated for December 3-5, 2020 in Phoenix, Ariz.

“The technology on the Badger is next to none; it has one of the most advanced powertrains and infotainment systems on the market. The features include over-the-air updates, keyless entry, independent torque control of every wheel, 906 HP, 980 ft. lbs. of torque, 15 kilowatt power export with 220V and 110V, tie-down tracks inside the truck for cargo, hidden refrigerator, up to 600 miles of range, and waterproof displays. You couldn’t dream of building a better pickup truck than the Badger and we offer it in both fuel cell and battery-electric options,” said Founder and Executive Chairman Trevor Milton. “At Nikola World 2020, our followers will have the chance to see the Badger in action, so you don’t want to miss this show.”