It’s a fascinating time for up and coming electric vehicle makers. With Tesla leading the pack in North America and elsewhere, competitors have some stiff competition to take on. But the new electric truck maker Nikola intends to enter the market place later this week when they go public.
The company, based in Phoenix, looks to revolutionize shipping transportation with the advent of electric semi-trucks. It’s a decent proposal, and one that electric vehicle mainstay Tesla Inc. has already put into motion with their very own semi-truck design. Those paying attention will also note an eerie similarity between the companies’ names.
A news source at AZ Central reported on the news of the company’s public offering later this week. The company merged with VectoIQ Acquisition Corporation which led to a spike in share prices. Nikola intends to use hydrogen power to provide its vehicles with energy. This represents an alternative take on green energy. But it’s one that just might serve to differentiate the company from other electric vehicle manufacturers.
As AZ Central reports, “Nikola plans to use proceeds from the merger to accelerate its development of electric battery and hydrogen fuel-cell heavy trucks and other vehicles. The company also plans to build a network of hydrogen fueling stations to support trucks ordered by customers, with two-dozen anticipated stations across the nation by 2024 or so.”
