Nikola stock surging on hydrogen fuel-cell truck and supply deals
After the electric truck manufacturer announced two significant deals for its hydrogen fuel cell cars, Nikola stock (NKLA) is surging higher. First off, Nikola HYLA’s division and BayoTech’s division, which provides Nikola HYLA’s hydrogen distribution and dispensing solution for commercial trucking applications using hydrogen fuel-cell technology, reached an agreement on a supply agreement. Over the next five years, BayoTech has pledged to buy up to 50 Nikola Class 8 hydrogen fuel cell trucks, with the first twelve trucks scheduled to arrive in 2023 and 2024. According to Nikola, the fuel-cell trucks have a 500-mile driving range. Buy up to 10 of BayoTech’s HyFill hydrogen transport trailers Nikola will buy up to 10 of BayoTech’s HyFill hydrogen fuel cell transport trailers as a result of the HYLA partnership with them; these trailers are necessary to transfer high-pressure hydrogen from production sites to refueling stations. One advisory committee member, Kathryn C...