Nikola Stock Continue to Soar 20% After a 32% Rally on Thursday

Tiger Newspress2023-09-15

Nikola is set to begin selling its hydrogen fuel-cell trucks at the end of the month, the company’s chief executive said.

Nikola stock jumps nearly 20% in morning trading on Friday. The stock surges over 32% on Thursday.

Chief Executive Steve Girsky said the company planned to deliver hydrogen-powered trucks in late September and early October. Nikola has received 210 non-binding orders for the new line of trucks, including from large fleet operators, Girsky said.

The company began production of its long-awaited hydrogen fuel-cell trucks over the summer, and Girsky said the first completed truck came off the production line two weeks ago.

Nikola has been grappling with a voluntary recall of its battery-electric trucks after an investigation found that a battery defect likely caused a fire in one of its vehicles. The company has said that the recall has not affected production of its hydrogen-powered trucks.

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