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Autos & Transportation

Nikola may seal order for 100 EVs from port trucking firm

1 minute read

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

Nikola Corp (NKLA.O) 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.

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