Nikola may seal order for 100 EVs from port trucking firm


FILE PHOTO: U.S. Nikola's logo is pictured at an event held to present CNH's new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin, Italy, December 3, 2019. REUTERS/Massimo Pinca

(Reuters) - Nikola Corp said on Thursday it signed a letter of intent with port trucking firm Total Transportation Services Inc for trials and possible order of 100 vehicles from the electric-truck maker.

Shares of the Phoenix, Arizona-based company surged 7.5% in premarket trading after the announcement.

Total Transportation is a large player at the ports of Los Angeles and Long Beach in southern California, which see up to 14,000 trucks on location in a month.

"The LOI is for 100 zero-emission trucks beginning with a four-truck pilot slated to start in the first half of 2022 and consisting of two BEVs and two FCEVs," said Nikola.

Nikola's Tre BEVs are designed for local deliveries up to 350 miles, while its Tre FCEV trucks are aimed at longer hauls of up to 500 miles.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Ramakrishnan M.)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

How video games could help fight dementia in dogs
Are scams more common on certain social media sites?
UN must help navigate social media pitfalls: president
Exclusive-Twitter to introduce new controls for ad placements -email
Walmart plans to offer BNPL loans through its fintech venture - report
Broadcom forecasts current-quarter revenue above estimates on cloud strength
Fired Amazon organizer loses bid to revive race bias lawsuit
U.S. utilities to triple battery storage capacity by 2025 -EIA
U.S. SEC issues new guidance on disclosing crypto risks
Netflix moving to end password sharing

Others Also Read