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Nikola begins production of battery-electric Tre semitruck


Nikola Motor’s Tre semitruck

Nikola Motor Company

Start-up of an electric heavy truck NikolaIt announced Wednesday it had begun producing the battery-powered Tre semitruck at Coolidge’s Arizona factory. This beat all competitors TeslaMarket for the electric semitruck

Nikola will begin truck deliveries in the second half of this year, according to executives during an analyst presentation. On Monday, the production of trucks was started for customers.

Nikola shares rose by 4% after the announcement.

This battery-electric Tre can travel for shorter distances and has a range of approximately 350 miles. Nikola anticipates delivering between 300-500 trucks in this year’s production, before increasing the level of production in 2023.

Nikola’s stock is now down to single digits after it was once so high. departure of its founderTrevor Milton was placed under an ethical cloud in 2020. It reiterated Wednesday that the company had cut all ties to Milton and settled any outstanding claims relating to Milton’s actions.

Milton was indicted last year on federal fraud chargesThese statements were made before Nikola’s initial public offering.

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Nikola will follow the battery-electric Tre by developing a hydrogen fuel-cell version that can travel up to 500 miles and is suitable for long distances. Nikola will follow that with a fuel cell model of “next generation” in 2025. This is suitable for long-haul trips and has a range of up to 900 mi.

Company confirmed that the hydrogen Tre was on schedule to start shipping by 2023.