Nikola: Shares to trade on NASDAQ as NKLA from Thursday
Nothing stands in the way of the smooth IPO of Tesla competitor Nikola Motors, in future Nikola Corporation. Today, all the conditions for the merger with the listed company VectoIQ Acquisition have been met – the shareholders have also approved the reverse merger. CEO Trevor Milton, whose role will also change, announced this news today at about 5:30 pm, German time.
In the course of the IPO, Trevor Milton resigned from his position as CEO and will act as Executive Chairman in the future. The cleantech company, which can be traded under the abbreviation NKLA, manufactures hydrogen and battery-powered semi-trucks – and has found partners such as Iveco and other established companies to do so. In addition to the electric vehicles , Nikola Corporation also wants to provide for the development of the infrastructure through hydrogen filling stations, especially in the USA – and is cooperating with the cleantech company Nel ASA and the fuel cell manufacturer Powercell.
In addition to the plant in Ulm, where the first vehicles will be produced, the company is also planning its own production facility in the USA in the state of Arizona. The ground-breaking ceremony for this is imminent.
By 2028, Nikola plans to produce tens of thousands of trucks and hundreds of charging stations to support Nikola CEO Trevor Milton’s vision of zero emission traffic. There are currently 14,000 pre-orders. Anheuser Busch, which has already successfully delivered beer in a Nikola truck, ordered 800 fuel cell tricks for its fleet and will install Nikola fuel stations along its routes.
According to information, Nikola Corporation will have an initial market capitalization of 11 billion US dollars as of Thursday – 50 billion is conceivable according to estimates. The coming years will show whether the Tesla rival is really worth that much…