NKLA Shares on the Rise after First Truck Delivery

By Bobby Samwell • Thursday, January 04 13:19 • Permanent Link

Nikola Corporation (NASDAQ: NKLA) saw a 12.6% surge in its stock price, which is now trading at $0.83 per share. This follows the company's successful production and wholesale of 35 hydrogen fuel cell electric trucks for customers in the U.S. and Canada in 2023. The company also produced a total of 42 of these vehicles during the same period.

Nikola Corporation's CEO, Steve Girsky, expressed pride in the company's accomplishment, stating, "What an effort by our dedicated and passionate team, to create – and deliver – what we believe is the only U.S. designed and assembled class 8 hydrogen fuel cell electric truck on the road today. Our pioneering spirit is what made it possible to wholesale these 35 trucks to our dealers for customers in the U.S. and Canada."

Girsky also noted, "Our goal is to introduce a better, cleaner way to deliver goods to the North American market in a reliable package. Our FCEV customer pilot programs have shown strong results, with truck uptime at 98% – crucial for efficient fleet usage."

The company believes that its hydrogen fuel cell electric vehicle (FCEV) features a range of up to 500 miles and an estimated fueling time as low as 20 minutes. Girsky emphasized the company's commitment to sustainable practices and a cleaner future, stating, "Nikola Corporation's mission is clear: pioneering solutions for a zero-emissions world."

Assembled in Coolidge, Arizona, the FCEV commenced serial production on July 31, 2023, with the commercial launch on September 28. The company has indicated that it will announce information regarding its 2023 financial results and 2024 outlook in the coming weeks.

The full 8-K submission from Nikola Corporation is available here.

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