Electric truck manufacturer and often cover catcher Nicholas (NASDAQ:TSLA) has even more promising news in an already strong year. This morning the company EV approved approval for Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). Nikola’s comeback story seems to continue to add chapters in the new year with a new encouraging announcement. Will NKLA shares revive soon?
HVIP approval was received by the California Air Resources Board (CARB), which certified Nikola Tre Tre trucks as zero-emission vehicles. The approval allows buyers of Nikola vehicles from California to qualify for up to $ 120,000 in incentives per truck. This is likely to further boost the orders of larger fleets. And Nikola hasn’t been a stranger lately.
Michael Erickson, Nicole’s global leader in battery-electric vehicles, commented on the importance of HVIP approval. “We welcome CARB’s commitment to a greener future through the HVIP program,” he said. “We expect our HVIP approval to help dramatically reduce greenhouse gas emissions and reduce total cost of ownership for Nicola’s California customers.”
Nikolina’s Tre BEV trucks are expected to be the longest Class 8 truck approved under the Incentive Program. Trucks have a range of up to 350 miles on a single charge.
Will today’s news stimulate the recovery of NKLA shares?
Today’s post is seemingly a cherry on top of a host of strong company headlines. Ever since she made it first delivery in December, Nikola reportedly signed more letters of intent (LOI) to buy maybe hundreds of their own trucks.
Just this week, the company announced to Mandatory logistics (NASDAQ:CVLG) signed the LOI for the purchase of up to 50 Nikola semi-trucks. Like most previous LOIs, the purchase depends on a successful presentation program.
Unfortunately, despite the strong string of Nikola news, investors are still hesitant. After an almost 4% increase in the pre-sales trend, the NKLA ended the day by 2.3%. This probably reflects the uncertainty stemming from last year a series of scandals related to Nicole’s founder Trevor Milton.
The future of the company remains uncertain. However, this has certainly not prevented the electric vehicle manufacturer from continuing to conclude deals that attract headlines.
At the date of publication, Shrey Dua did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are the subject of InvestorPlace.com Guidelines for publication.