Nikola strikes battery supply deal with Proterra

Proterra

18/01/2022 14:04

** Electric truck maker  NKLA.O  says it has entered a deal
with Proterra Inc  PTRA.O  for long-term supply of batteries for
its semi-trucks  urn:newsml:reuters.com:*:nL4N2TY35S
    ** NKLA trucks with Proterra's batteries are expected to be
produced in the Q4 of 2022
    ** In Oct. 2021, NKLA said it had entered into a long-term
supply agreement with LG Energy Solution  373220.KS  for supply
of batteries through 2029
    ** With the growing demand for the Nikola Tre BEV and FCEV,
we have actively pursued battery supply through a dual source
strategy - NKLA CEO Mark Russell
    ** NKLA shares down 1.5% at $9.93 premarket
    ** Up to last close, stock had fallen ~21% since it reported
results on Nov. 4

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