Nikola Stock Gained More Than 3% in Premarket Trading

Tiger Newspress2022-01-19

Nikola stock gained more than 3% in premarket trading after Nikola signed battery deal with Proterra for electric big rigs.

Nikola Corp. announced a long-term supply agreement with Proterra Inc. for battery technology, giving the electric big-rig maker a second source for the critical components.

Burlingame, California-based Proterra will start delivering prototype systems to Nikola next quarter, with full production of trucks using Proterra’s battery packs starting in the fourth quarter, the companies said Tuesday in a statement. The technology will also be used for hydrogen-fuel-cell electric trucks, which are due to go in to production in the second half of 2023.

The agreement bolsters the supply chain for embattled startup Nikola, whose road to production of battery-electric and fuel-cell semi trucks has been plagued by challenges. Phoenix-based Nikola has previously disclosed Romeo Power Inc. as a pack supplier and discussed working with multiple cell suppliers, without disclosing their names.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • tig2021
    2022-01-22
    tig2021
    Ok
  • 丰人
    2022-01-20
    丰人
    Like
  • time to eat
    2022-01-20
    time to eat
    Just buy
  • BKT
    2022-01-19
    BKT
    Good. Pls like thanks.
  • riserr
    2022-01-19
    riserr
    Why still go down even they have good contract?
  • CCCH
    2022-01-19
    CCCH
    More please
Leave a comment
12