Why Is Nikola Stock Surging Today?

Nikola Corporation NKLA shares are trading higher on Tuesday.

The company announced that AiLO Logistics, a significant drayage carrier operating in the Ports of Los Angeles and Long Beach, has placed a 100-truck order of Nikola hydrogen fuel cell electric vehicles from Tom’s Truck Centers, a member of the Nikola sales and service dealer network.

In its commitment to sustainable logistics, AiLO plans to expand its drayage division, integrating 100 Nikola hydrogen FCEVs to cater to rising port industry needs.

“Nikola trucks are on the road today, and the biggest test of our trucks is measured by our customers and their repeat orders,” said Ryan Clayton, Global Head of Sales, Nikola. Deliveries are scheduled for 2025.

AiLO, a newly rebranded entity formed through the consolidation of various corporations like MDB Transportation, had initially procured 50 Nikola FCEVs from Tom’s Truck Centers. Delivery of these vehicles began in 2024 and is ongoing.

“Having a prominent and mission-driven customer in AiLO not only purchase trucks for 2024 but double their order for 2025 is an honor for our organization and a testament to their drive to make a difference,” Clayton added.

One of the distinctive black and colored-striped AiLO trucks is featured at Nikola’s Ride and Drive event area at the 2024 ACT Expo.

Nikola recently announced the opening of its latest HYLA high-pressure modular refueling station and facility in Southern California. This new station, located at 2267 W. Gaylord St. near the Port of Long Beach, began operations on May 4, 2024.

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Price Action: NKLA shares are trading higher by 8.43% to $0.5714 premarket at last check Tuesday. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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