Nikola Corp. (NKLA) stock prices surged an impressive 20.60% shortly after the trading day commenced on April 22nd, 2021, climbing up to USD$12.41.
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NKLA Collaborates with TravelCenters of America
NKLA stock prices soared after the announcement of their collaboration with TravelCenters of America, Inc.(TA) to install two hydrogen fueling stations for heavy-duty trucks, each at one of two different existing TA-Petro locations. Investors are anticipating the collaborative development of a national network of hydrogen fueling stations, pending definitive documentation agreeable to both companies.
Development of Hydrogen Fueling Stations
Both hydrogen fueling stations, located in California, are anticipated to be commercially operational by Q1 2023. The stations will facilitate the accelerated adoption of commercial electric trucks that will be powered by hydrogen fuel-cells. Once operational, the fueling stations will allow for the operating of zero-emissions heavy-duty commercial vehicles in the greater LA locale through to California’s Central Valley. This is a feasible expectation given the expected 500-mile range of Nikola Tre fuel cell electric vehicles, which NKLA had announced previously.
Scope of Hydrogen Fueling Stations
The hydrogen fueling stations will allow for an open fueling network available to all truck customers. The stations will follow the industry standard for heavy-duty fueling protocols to ensure compatibility with all current fuel-cell manufacturers. The starting up of the network of hydrogen fueling stations will serve to establish a hydrogen-based ecosystem that is essential in the push for zero emission solutions in commercial trucks.
Nikola is keen to position itself so as to facilitate the transportation sector’s move towards alternative fuel offerings, of which hydrogen is a front-running energy source for Class 7 and Class 8 vehicles. The company hopes to scaffold its fleet customers in their implementation of decarbonization strategies.
Future Outlook for NKLA
The onset of such promising future developments based on this initial foray seems to have quelled investor concerns about the profitability of the company, especially in light of their lack of a commercial product so far. With a promising future and stock price that are on the rise, NKLA is poised to capitalize on the burgeoning alternative-fuel sector in the transportation industry and, in doing so, significantly increasing shareholder value.