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Nikola Corporation (NASDAQ:NKLA) has begun work on hydrogen plants as it seeks to build a refueling network for the zero-emission truck market.
The maker of heavy-duty commercial battery electric vehicles has also signed offers with hydrogen producers that have agreed to supply hydrogen in parts of the US and Canada. Nikola aims to have 7,500 heavy trucks on the road by 2026.
In January, Nikola (NKLA) said it would work with Fortescue Future Industries to co-develop green hydrogen production facilities in the US and separately announced it had developed a heavy-duty 10,000 psi (700 bar) mobile hydrogen feeder. capable of feeding hydrogen fuel directly. cellular electric vehicles.
Nikola (NKLA) shares are up 9% in 2023, but are still trading more than 70% below the 52-week high.
