Nikola up after freight co agrees to buy 50 electric trucks

Covenant Logistics

11/01/2022 13:28

** Electric truck company Nikola Corp's shares  NKLA.O  up
2.3% at $10.16 premarket
    ** Covenant Logistics Group  CVLG.O  enters into Letter of
Intent to buy 50 electric trucks from NKLA  urn:newsml:reuters.com:*:nPn4YrY3Ka
    ** Agreement includes purchase of 10 Tre battery electric
trucks and 40 Tre fuel cell electric trucks
    ** NKLA says delivery to CVLG of the first Tre BEV truck and
mobile charging trailer for testing is anticipated to occur in
Q2, with the Tre FCEV testing expected to follow in 2023
    ** Last week, USA Truck Inc  USAK.O  entered into letter of
intent with Thompson Truck Centers to buy 10 Nikola Tre BEV
trucks and Saia LTL Freight has signed a letter of intent to
purchase or lease 100
    ** Up to last close, NKLA had fallen ~18% since the co last
reported results on Nov. 4

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))