Nikola Corporation NKLA shares are trading higher after the company said it produced 42 and wholesaled 35 Class 8 Nikola hydrogen fuel cell electric vehicles in 2023.
Of the seven trucks produced but not wholesaled, three are being used in an extended field test with a fleet partner, two are in continued validation and engineering, and two are being used for service training/customer demos.
Nikola's FCEV features a range of up to 500 miles and an estimated fueling time as low as 20 minutes.
The company said its truck is among the longest ranges of all commercially available zero tailpipe emission Class 8 trucks, with applications ranging from drayage and intermodal to metro-regional truckload and less-than-truckload to certain specialized hauling use cases.
"Our goal is to introduce a better, cleaner way to deliver goods to the North American market in a reliable package," said Nikola CEO Steve Girsky.
"Our FCEV customer pilot programs have shown strong results, with truck uptime at 98%—crucial for efficient fleet usage," Girsky added.
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Price Action: NKLA shares are trading higher by 10.7% to $0.8201 on the last check Thursday.
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