Nikola (NASDAQ:NKLA) stock is charging up on Thursday after announcing plans for hydrogen fueling stations.
These plans will have it working with TravelCenters of America (NASDAQ:TA). This will have the two companies will adding hydrogen fueling stations to two TA-Petro sites in California.
According to a news release, these sites will allow commercial hydrogen fuel trucks to refuel during their journeys. With these stations, these commercial trucks will be able to cover the greater Los Angeles region, as well as California’s Central Valley. That’s based on NKLA’s expected range of 500 miles for its own hydrogen fuel cell truck.
Nikola also notes that these fueling stations won’t be restricted to its own commerical trucks. Instead, any hydrogen fuel-cell-powered commercial electric trucks will be able to make use of the stations. It plans to follow heavy-duty fueling protocols to ensure compatibility with all hydrogen fuel-cell trucks.
Pablo Koziner, the Energy and Commercial president of Nikola, had the following to say about the news sending NKLA stock up today.
“Our collaboration in southern California will form a basis for building an expanded network of hydrogen fueling stations for Nikola vehicle customers and for industry use overall. This collaboration forms an essential part in delivering the hydrogen-based ecosystem required to advance zero emission solutions for commercial trucks.”
Nikola and TravelCenters of America are working to have the two hydrogen fueling stations up and running in the next couple of years. The current expectation is for them to open by the time Q1 of 2023 rolls around.
NKLA stock was up 2.3% and TA stock was up nearly 1% as of Thursday morning. However, NKLA is down 34.1% and TA is down 14.9% since the start of the year.
Nikola isn’t the only green vehicle company in the news of late.
Several electric vehicle (EV) stocks have also been making headlines thanks to recent news. That includes Arrival (NASDAQ:ARVL), Fisker (NYSE:FSR), Chargepoint (NYSE:CHPT), and others. You can catch up on that news at the links below.
More Green Vehicle News
- ARVL Stock: 9 Things to Know About EV Startup Arrival as Shares Move
- ARVL, FSR, CCIV, TSLA, ACTC: The Biden Plan That Has EV Stocks on Watch
- Indulge Your Electric Vehicle Obsession with Chargepoint Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.