Nikola may seal order for 100 EVs from port trucking firm

Nikola Corp said on Thursday it signed a letter of intent with port trucking firm Total Transportation Services Inc for trials and possible order of 100 vehicles from the electric-truck maker.

Shares of the Phoenix, Arizona-based company surged 7.5% in premarket trading after the announcement.

Total Transportation is a large player at the ports of Los Angeles and Long Beach in southern California, which see up to 14,000 trucks on location in a month.

Nikola’s Tre BEVs are designed for local deliveries up to 350 miles, while its Tre FCEV trucks are aimed at longer hauls of up to 500 miles.