Nikola Sees Surge in Hydrogen-Fuel Cell Truck Deliveries Amid Market Demand
Key Ideas
- Nikola's hydrogen fuel cell truck deliveries increased by 80% in Q2, surpassing expectations and showing strong market demand.
- Shares of Nikola rose by nearly 4% in premarket trading following the news of the surge in deliveries.
- The company delivered 72 Class 8 hydrogen fuel cell trucks in the quarter, exceeding its own sales forecast.
- Despite a 70% drop in stock value for the year, Nikola's performance in hydrogen-fuel cell trucks signals positive growth.
Nikola, the startup known for its hydrogen-fuel cell trucks, reported a significant rise in deliveries in the second quarter of the year, with an 80% increase compared to the previous quarter. This surge in deliveries, reaching 72 Class 8 hydrogen fuel cell trucks, surpassed the company's own expectations and demonstrated a strong market demand for these vehicles. The news led to a nearly 4% increase in Nikola's stock value in premarket trading. Even though the company has seen a decline of over 70% in its stock value for the year, the success in hydrogen-fuel cell trucks delivery indicates positive growth. Nikola's performance in the market, particularly with hydrogen-powered vehicles, shows promise amidst its shift from battery-powered models.