Nikola Corp’s shares up 4.1% after the EV maker stated that Saia Inc signed a letter of intent to buy or lease up to 100 electric trucks, according to a press release by Nikola on Thursday.
The company stated that trucks are scheduled to be delivered between 2022 and 2024, with an initial 25 set for delivery this year.
Pablo Koziner, president of energy and commercial at Nikola, stated that the announcement represents a huge milestone in a continuous progress towards the delivery of zero-emissions vehicles and energy solutions.
Fritz Holzgrefe Saia, the President and CEO, said that they were excited to partner with Nikola as they work to integrate battery-electric trucks into their tractor fleet.
Shares of Nikola have dropped 3.2% in the last three months as the S&P 500 Index gained 7.7%.