Electric truck Nikola takes on car giants
An electric truck company Tesla that has yet to deliver a single vehicle already has a market value higher than industry stalwart Fiat Chrysler.
An electric truck company Tesla that has however to deliver one vehicle already includes a value above business stalwart rescript Chrysler. Since listing on the National Association of Securities Dealers Automated Quotations last week, the US start-up Nikola has seen its share worth quite double, causing its value to $26.4bn (£20.5bn). The gains came once the firm declared on Twitter once it'd settle for type for its pick-up truck. The spectacular surge player comparisons to suffered rival Tesla. TSLA has conjointly seen its value eclipse ancient competitors, despite having a lot of smaller sales and a protracted history of economic losses. On Twitter, Nikola chief government Trevor poet celebrated the share worth gains, ringing the social media presence of Tesla boss man. Musk. Mr Milton, WHO is currently a chic, same he had his sights attack passing Ford's popular F-150 pick-up truck, and secure to try and do his "part to be the foremost accessible and direct government on Twiter". till recently, Nikola, that like TSLA takes its name from the artificer, had primarily targeted its development on business trucks. The firm, that is predicated in America's southwest in Arizona, has won backing from Hieronymus Bosch and firms connected to the family of Fiat's founder man. Agnelli. It claims production large Anheuser-Busch as a consumer. It had raised concerning $500.5m before its listing, however the corporate has however to get any revenue. It lost quite $33.3m within the initial 3 months of the year. In train up for its listing, Nikola calculable its web price at concerning $3.2bn. It raised quite $700.5m within the debut, which can come in half to putting together its producing facility. The firm, that has 252 workers, has same it's quite $10.2bn in pre-orders for business trucks and plans to begin delivering trucks next year. it'll begin acceptive orders for the harass pick-up truck on twenty nine June. Nikola's share worth gains on weekday came because the National Association of Securities Dealers Automated Quotations hit another record. At one purpose, demand for Nikola shares pushed costs therefore high that the firm was price higher than Ford's $28.2bn.