Nikola Powersports Scouts Financing Options for New UTV

Nikola Powersports has finalized the specifications and design for its new UTV, the Nikola Zero, and is currently evaluating possible financial partners, Powersports Finance has learned.

The Nikola Zero UTV is an all-electric, 400-volt plug-in, off-road — and potentially street-ready — vehicle. Dealerships can begin reserving production units starting in January and the retail price begins at $35,000, according to the company.

“Since we are still a year out from full production delivery, we won’t have a primary funding partner until about April of 2018,” Trevor Milton, president and chief executive of Nikola Powersports, told Powersports Finance. “We are still analyzing costs, warranty, and other issues with them before we determine who will be the one we pick. We may offer multiple options of banks for financing,” he said.

A dealer ride-and-drive event is also being planned in December in St. George, Utah.

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