Nikola takes another win against Tesla in the truck market
Nikola has just managed to get a deal for 1,000 refuse trucks for giant Republic Services in a deal that could be worth $10 billion over time
Nikola has just managed to get a deal for 1,000 refuse trucks for giant Republic Services in a deal that could be worth $10 billion over time as if they deliver as promised the deal could expand up to 5,000 trucks. The company which is yet to produce and deliver any vehicles looks set to start delivering electric trucks in 2021 which it is hoping will put them ahead of the Tesla Semi truck.
“Nikola specializes in heavy-duty, zero-emission Class 8 trucks. The refuse market is one of the most stable markets in the industry and provides long-term shareholder value,” founder Trevro Milton has stated.
This new deal has sent Nikola stock soaring and makes them a real competitor to Tesla if they can deliver on their promises. I would imagine this will make Tesla up their game on getting the Tesla Semi to market as Nikola has also said they will begin deliveries of Hydrogen powered trucks in 2023.
The company told Yahoo News that this puts their backlog of orders at 14,000 and exceeds $10 billion worth of revenue for the company, which if accurate would make them one of the biggest players among the electric upstarts hitting the market currently.