PGT Trucking Inks LOI For 100 Nikola FCEV Trucks

Nikola Corp NKLA entered a collaboration with transportation company PGT Trucking Inc (PGT), including a Letter of Intent (LOI) to lease 100 Nikola Tre heavy-duty fuel cell electric vehicles (FCEVs).
The lease order will include the Nikola Tre FCEV, scheduled maintenance, and hydrogen fueling solutions. The financial terms of the deal were not disclosed.
Nikola expects deliveries of the FCEVs to PGT to begin in 2023 when it begins production at Coolidge, Arizona manufacturing facility.
The Nikola Tre FCEV cabover has an anticipated range of up to 500 miles and is designed for longer or continuous metro-regional applications.
"We are excited that PGT has elected to partner with Nikola in advancing and adopting FCEV technology," said Nikola President, Energy and Commercial Pablo Koziner.
Price Action: NKLA shares are trading lower by 0.97% at $11.24 on the last check Thursday.