Hydrogen-powered semi-trucks saving businesses money: Nikola CEO

Tesla's Elon Musk calls them 'fool cells,' but Trevor Milton disagrees

Nikola Motor Company is giving Tesla a run for its money by using hydrogen to fuel its semi-trucks.

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CEO Trevor Milton told FOX Business' Liz Claman the trucks are zero-emission, but there are more than environmental benefits to the trucks. He believes hydrogen is a better way to move freight because it weighs less. And the lighter the truck is, the more freight it can haul.

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Nikola One grill (Nikola)

"When you move a load of heavy freight, every pound's worth about 50 cents per load," Milton said on "The Claman Countdown." "So, if we're 5,000 pounds less, ultimately, you're going to make $25,000 more revenue on that one load compared to batteries."

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Previously at a shareholders' meeting, Tesla's CEO and co-founder Elon Musk called Nikola's fuel cells "mind-bogglingly stupid" and nicknamed them "fool cells." Milton doesn't agree.

"He can say 'fool cell' all he wants, but our trucks ... could generate all the way up to about $50,000 a month more in revenue for a customer than a battery-electric truck," Milton said.

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In addition to that, Milton bragged the trucks can be fueled up with hydrogen in just 15 minutes, which he believes gives them the edge over battery trucks as well.

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Anheuser-Busch ordered 800 Nikola trucks, and they aren't the only company buying in, either, Milton said.

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"We, essentially, stopped taking orders because we're sold out for five-plus years, and you're only making people upset at that point," Milton said.