(Reuters) -Wholesale deliveries of Nikola's hydrogen-powered electric trucks rose 22% in the third quarter from the previous three-month period, the company said on Wednesday, indicating steady demand for its big trucks .
The electric vehicle maker delivered 88 Class 8 hydrogen fuel cell trucks to dealers during the quarter, in line with its expectations of selling between 80 and 100 units. But that lagged behind the 80% sequential increase in deliveries reported in the second quarter.
Shares of Nikola (NASDAQ rose 9.5% in early trading. The stock has fallen more than 82% so far this year, as of the latest close, hurt by weak growth in the electric vehicle industry due to lower consumer demand.
The Phoenix, Arizona-based company also said it has delivered 200 hydrogen fuel cell trucks to dealers so far this year. It had previously said it was targeting year-round deliveries of 300 to 350 trucks.
Nikola has sold a total of 235 units since the truck went on sale in the fourth quarter of 2023.
The company is benefiting from new customers placing orders for its hydrogen-powered trucks, helping it shift away from its battery-powered vehicles, all of which it recalled in 2023 due to fires caused by a leak. of coolant.
Nikola had previously said it was on track to complete the rollout of all of its refreshed battery electric trucks by the end of the year.
In August, the company beat Wall Street estimates for second-quarter revenue and posted a smaller-than-expected loss.
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