Nikola Shares Surge Amid Potential New Clients and Expansion

Credit: Nikola

Written by Cláudio Afonso | LinkedIn | X

Shares of Nikola Corporation are rising 24% to $11.20 on Monday after the electric truck maker reported selling 72 trucks in the second quarter, beating analysts’ expectations.

Later this week, the company will host a hiring event at its factory in Coolidge, Arizona, as part of its expansion plans.

“Nikola is expanding! We are looking for some great people to be part of the future of zero-emissions transportation. If you have an interest in production assembly work, we want to meet you!” the company stated on its website.

Nikola is also seeking more deals to supply its electric trucks. Wayfair is testing Nikola’s trucks in California, according to Anna Vinogradova, Head of Global Sustainability and ESG at Wayfair.

“Wayfair is piloting heavy-duty EV trucks with WattEV, Inc. in California. We’re testing these vehicles for more sustainable middle-mile deliveries and evaluating the operational impacts of switching from diesel to electric trucks,” Vinogradova said.

Last Thursday, Nikola announced that Walmart Canada has integrated the first Nikola hydrogen fuel cell electric semi-truck into its fleet. Walmart Canada is the first retail fleet in North America to operate a hydrogen fuel cell electric truck.

In a new interview for the “Future Says” podcast, Nikola’s Global Head of Supply Chain Management, Pedro Garcia, anticipated that additional safety regulations will be implemented, necessitating industry-wide compliance and adaptation.

Written by Cláudio Afonso | LinkedIn | X

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Cláudio Afonso
Cláudio Afonso is the Founder and Editor of EV, an independent electric vehicle news publication owned by CARBA Investments, the company he founded in early 2021. Between 2022 and 2024 he worked in European corporate communications at Nio, and he returned to lead EV in April 2024. He is based in Portugal.