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Nikola Fuels Up on Hydrogen; Inventory Surplus Slows Retail Orders

By Paul Page

 

Nikola has started work on hydrogen plants as part of its planned fueling network for zero-emissions trucks. PHOTO: MASSIMO PINCA/REUTERS

Today’s Logistics Report was written by Liz Young.

Nikola is taking steps to secure the fuel needed to power its zero-emission truck ambitions. The WSJ’s Bob Tita reports the vehicle maker has started work on hydrogen plants and signed up a handful of hydrogen producers as it builds out a fueling network to underpin its push to compete in the zero-emissions truck market. Nikola plans to begin assembling hydrogen fuel-cell electric trucks for the heavy-duty market later this year. The company says it is building a plant in Arizona and has supply commitments from four hydrogen producers. One of its biggest challenges is setting up a hydrogen fuel network that will allow it to compete with battery-electric truck rivals such as Tesla. Some established truck makers have said they expect the limited availability of hydrogen to limit demand and for battery-electric trucks to become the first choice for truck operators seeking an alternative to diesel.

 

Quotable

“If we can get hydrogen to our customers at a competitive rate, they’ll buy more trucks and we’ll buy more hydrogen."

— Carey Mendes, president of Nikola’s energy business, on building out a hydrogen supply network for its trucks
 
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Sourcing Strategies

Levi's denim blue jeans. PHOTO: LUKE SHARRETT/BLOOMBERG

Retailers are starting the year still digging themselves out from the pandemic-era inventory glut. Major apparel and accessory brands reported weaker sales for the latest quarter, the WSJ’s Inti Pacheco writes, as the retail industry continues working to clear last year’s flood of inventory caused by a mismatch between supply and consumer demand. Brands such as Levi Strauss, Under Armour and Ralph Lauren rely on wholesaling in addition to their own stores and websites, and department stores have been slower to replenish merchandise and have been canceling orders as they work through piles of excess goods amid falling consumer spending. The slowdown may last through the first half of the year as brand executives warn that their wholesale partners are being conservative with spring and summer orders. That has led companies to discount everything from Levi’s skinny jeans to Vans sneakers in an effort to sell more goods and clear shelves.

 
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Number of the Day

263,394

Loaded container imports, in 20-foot equivalent units, into the Port of Long Beach in January, down 32.3% compared with a year earlier

 

In Other News

The U.K. economy grew 0.1% in the last three months of 2022. (WSJ)

An index of U.S. consumer sentiment rose in early February to a 13-month high. (MarketWatch)

China’s consumer prices in January rose 2.1%. (WSJ)

The U.S. agriculture industry is projecting another strong year in 2023. (WSJ)

A Norfolk Southern train appears to have been on fire miles before it derailed in eastern Ohio. (WSJ)

Turkish government agencies and international donors are facing massive logistical challenges in efforts to provide earthquake relief. (WSJ)

EU leaders endorsed plans to relax government subsidy rules and repurpose existing funds to support the bloc’s clean-tech industry. (WSJ)

Russia plans to cut its oil production by about 5% next month. (WSJ)

Consumer products maker Newell Brands slashed its financial forecasts for the year. (WSJ)

Israeli container line Zim is adding capacity and frequency to its U.S. East Coast-Asia service. (Journal of Commerce)

Trucker Yellow reported a $15.5 million net loss in the fourth quarter as demand plummeted. (Supply Chain Dive)

Chip equipment suppliers are shifting operations from China to Southeast Asia. (Nikkei Asia)

Emirates SkyCargo and Air Canada Cargo have signed a deal to work together on air cargo operations. (Air Cargo News)

North American companies ordered a record-high 44,100 robots last year. (Reuters)

 

About Us

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.

 
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