Nikola (NKLA), the one company whose former CEO has defrauded millions in investor funds is making an astounding comeback. Shares of NKLA skyrocketed 17% on news that the company is starting truck battery development and a hydrogen fuel collaboration with Travel Centers of America.
The company has reconfirmed previous production targets with a plan of installing hydrogen fuel ports for heavy duty trucks in two partner locations in California. In the agreement both companies plan to explore mutual development of a nationwide hydrogen fuel network.
Some good news is that the first SEMI, Nikola Tre is expected to begin production in Europe in the fourth quarter of 2021, with a production plant expected in 2022.
According to a press release, the relationship between Nikola and TravelCenters of America is subject to discussions and implementation of a final agreement decided upon by both companies.