Nikola Goes North: Brings ITD On Board As Its First Canadian Dealer

Nikola Corporation NKLA shares are trading higher Friday morning following its solid run yesterday.

The company announced an expansion of dealer sales and service network for its Class 8 trucks in Canada (via the HYLA brand) in partnership with ITD industries.

Under the deal, ITD will be promoting Nikola's zero-emission trucks across its national sales channels and is a qualified dealer under the Federal government.

"Bringing ITD on board as our first Canadian dealer is an exciting move for Nikola. Canada's zero-emission vehicle friendly environment for Class 8 trucks, fueled by attractive incentives and its ambitious carbon reduction goals, makes it a strategic market for the future of transportation," said Nikola President and CEO Steve Girsky.

Also Read: Nikola CEO Terms Truck Fires A 'Setback', Says It Won't Affect Hydrogen-Powered Truck Deliveries

The deal has been inked via the HYLA brand, which is Nikola's Integrated Hydrogen Solution to encompass the company's energy products for producing hydrogen to fuel its zero-emissions trucks.

Hydrogen fuel cell vehicles have been in Nikola's focus for quite some time.

On Sep. 13, CEO Girsky had a Q&A session, where he reinforced Nikola's position as a frontrunner in hydrogen refueling solutions and highlighted the company's ambitious plans for hydrogen infrastructure and hydrogen highway launching in California.

Under the latest deal, ITD's Toronto-based premier Nikola showroom and service operations will be integrated into its manufacturing facility, featuring 55-foot ceilings and more than 78,000 square feet.

Price Action: NKLA shares are trading higher by 6.5% to $1.2250 on the last check Friday.