This was the right decision for both companies given the resources and investments required, Nikola CEO Mark Russell said in a statement. We support and respect Republic Services commitment to achieving environmentally responsible, sustainable solutions for their customers.
When the deal for thousands of trucks was announced in August, Nikola s stock surged 22% to $44.81 a share. The shares are trading at about a third of that price now. Shares were trading at $15.33 Wednesday morning. In a nutshell, this is a gut punch for investors that were hoping this monster order was a potential paradigm changer for Nikola and reference customer going forward, Wedbush analyst Dan Ives said in a note to investors Wednesday.
NGT News
December 22, 2020
Peterbilt Model 520EVs sold to customers in California are eligible for a $150,000 HVIP voucher. Customers and their participating dealers must meet all applicable project requirements identified in the HVIP Implementation Manual to receive a voucher.
“With the addition of the Model 520EV to the CARB HVIP Voucher program, all three Peterbilt battery-electric commercial vehicles sold in California are eligible for HVIP vouchers,” says Jason Skoog, general manager of Peterbilt and vice president of PACCAR. “This should dramatically help reduce purchasing costs for California-based companies looking to add Peterbilt EVs to their fleet.”
The Model 520EV is available for customer orders with deliveries expected to start in 2021.