Shares of Nikola Corp
NKLA,
+1.27%
rallied 4.1% in premarket trading Thursday, after the electric vehicle maker said Saia Inc.’s
SAIA,
+1.55%
Saia LTL Freight company has signed a letter of intent (LOI) to buy or lease up to 100 of Nikola’s Tre heavy-duty battery-electric trucks. The company said the trucks are expected to be delivered between 2022 and 2024, with an initial 25 trucks targeted for delivery this year. Financial details of the LOI were not disclosed. “Saia is a leader in the freight and logistics industry, and will be a key development partner for Nikola,” said Pablo Koziner, president of energy and commercial at Nikola. “This announcement represents another milestone in our continuous progress towards the delivery of zero-emissions vehicles, energy solutions and the sales and service network required to support our valued customers.” Nikola’s stock has slipped 3.2% over the past three months while the S&P 500
SPX,
+0.04%
has gained 7.7%.
Nikola’s stock jumps after LOI for Saia to buy or lease up to 100 electric trucks – MarketWatch
