Nikola can now transfer forward with its proposal to double its excellent shares to 1.6 billion from 800 million. Issuing new shares to boost funds is essential for its pivot to producing hydrogen gas cell vehicles and constructing out HYLA, its hydrogen manufacturing and distribution community.
The firm’s inventory value has rallied because it has made headway in current weeks. Nikola’s share closed at $3.40 on Thursday, a 534 p.c enhance since closing at a one-year low of 54 cents on June 6.
On Monday, Nikola introduced it received an order for 13 zero-emission Class 8 vehicles from J.B. Hunt Transport Services, one of many nation’s largest motor carriers. The order covers 10 battery-electric huge rigs and three hydrogen gas cell vehicles. And Bosch mentioned final month that it has began manufacturing of the gas cells for Nikola’s vehicles.
The trucking firm plans to make use of the tractors alongside key trucking routes within the higher Los Angeles and Phoenix areas. Nikola’s hydrogen arm, HYLA, will provide the hydrogen and fueling infrastructure.
“These zero-emission trucks from Nikola advance our progress towards achieving our ambitious goal to reduce carbon emission intensity through viable solutions,” mentioned Nick Hobbs, chief working officer and president of contract companies at J.B. Hunt.
J.B. Hunt operates a fleet of 21,000 vehicles and is ordering handfuls of zero-emission autos from numerous producers as a part of a purpose to slash carbon emissions by 32 p.c from a 2019 baseline by 2034.
Nikola mentioned Wednesday that it had surpassed 200 gross sales orders for its Class 8 hydrogen gas cell tractors. The order ebook represents 18 clients.
Source: www.autonews.com