JB Hunt partners with Nikola for eco-friendly electric trucks delivery

2023-07-31 20:04:00

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The once-dead EV company Nikola can announce another success. The stock then jumps in price.

• Nikola stock faces delisting from the NASDAQ stock exchange
• Order gives a strong boost to the share price

Hybrid electric truck developer Nikola has landed a significant contract. For example, JB Hunt Transport Services intends to significantly reduce its carbon emissions and is therefore integrating electric trucks into its fleet. In this context, the logistics company now wants to buy 13 vehicles from Nikola – three hydrogen fuel cell vehicles and an additional ten heavy battery electric vehicles. Delivery is scheduled for next month, according to the press release.

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Nikola responsible for hydrogen and infrastructure

Nikola will also provide the required hydrogen and infrastructure. The trucks will be used primarily in the Los Angeles and Phoenix areas where Nikolas is headquartered. They will also be used intermittently at other locations along JB Hunt’s main shipping routes.

Nikola stock hit

Maybe Nikola will be able to save his stock market listing. As was reported at the end of May, the group is threatened with delisting from the US stock exchange NASDAQ because Nikola does not meet the minimum requirements for the offer price. The reason is a massive crash in Nikola shares – in 2022 alone, the share certificate lost 78.12 percent in value and slipped below the one dollar mark. Recently, however, the EV company’s shares have been able to recover significantly from their all-time low.

Ultimately, NASDAQ-listed Nikola shares rose 17.62 percent to $2.67.

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Image Source: Julio Ricco / Shutterstock.com, Nikola Corporation

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