• Nikola Motor Company (Nikola), a developer of heavy-duty battery-electric (BEV) and fuel cell electric (FCEV) trucks, has signed a letter of intent (LoI) with PGT Trucking, a provider of flatbed transportation services, to supply 100 “Nikola Tre” heavy-duty FCEV truck model under a lease agreement. The lease order also includes scheduled maintenance and hydrogen fueling solutions provided by Nikola.

• The order is dependent on completing a Nikola Tre FCEV demonstration, for which terms have not been yet agreed upon.

• The company intends to start its deliveries by 2023 once the production commences at its Arizona facility as scheduled.

<ul><li> Analyst QuickTake: This agreement adds to Nikola’s 14,000+ pre-orders for its FCEV trucks from customers including AB Inbev (2018), and Total Transportation (May 2021). The news comes just one month after its peer company Hyzon Motors landed a relatively larger deal with Shanghai Hydrogen HongYun Automotive, a logistics company with a focus on FCEVs,  to supply 500 hydrogen-powered tractor trucks.</ul>