Shares of Nikola Corporation (NASDAQ: NKLA) (NASDAQ: VTIQ) rose on Monday, after the company’s founder and president said they would start reserving a new electric truck in late June.
As of 2:30 pm EDT today, Nikola shares rose nearly 63% from Friday's closing price.
Most of her presence Nicolas focused on class 8 heavy trucks (tractor trailers), but the company also said it had an electric pickup - Badger - under development. But until Milton tweeted, most investors assumed that the Badger was a "someday" product, not a "soon" product.
Nikola said that Badger will have a battery pack and a hydrogen fuel cell, which together will give it up to 600 miles of range. The truck will be able to work in "blended" mode, by pulling power from both the fuel cell and the battery pack, or on the batteries alone.
On paper, at least, Badger is a promising product. While it may not steal a large market share from the Detroit truck giants, it may prove to be a headache for Tesla (NASDAQ: TSLA) and Cybertruck.
Nikola World 2020 (Badger World) will be announced on Monday, June 29th. Badger reservations are open on the same day. Deposit holders will get tickets on tickets # nikolaworld2020 Phoenix, AZ. Badgers will directly control ICE trucks. Be there to see it
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