Nikola Corporation nasdaq Nkla Stock Jumps Amidst New Collaborative Venture

Nikola Corporation (NASDAQ: NKLA) Stock Jumps Amidst New Collaborative Venture

Nikola Corporation (NASDAQ: NKLA) stock gained over 3% on Thursday after the company announced a new partnership.

Nikola Corporation (NKLA) has announced a strategic partnership with what3words to integrate advanced location technology throughout its North American fleet. The aim is to improve address precision, increase trust in location accuracy, and streamline delivery operations.

What3words tackles the challenges of navigating complex industrial areas by giving each 10ft square on Earth a unique three-word address. This helps accurately find spots like warehouses, drop-off points, and delivery doors, even in tricky industrial areas.

Nikola plans to integrate this technology in its Class 8 zero-emission trucks by 2024, marking a big step in setting new standards for precision and performance in the industry. It demonstrates Nikola’s commitment to innovation and customer-friendly solutions.

Mary Chan, the Chief Operating Officer at Nikola, underscores the pivotal role of precision in the operations of commercial vehicles, stating,

“In the commercial vehicle landscape, precision is paramount to avoid delays and disruptions.”

She views the partnership with what3words as a strategic step in improving customer experience and streamlining location input processes, in line with Nikola’s dedication to delivering seamless service.

Chris Sheldrick, Co-Founder and CEO of what3words, acknowledges the benefits of their technology in improving delivery accuracy and customer satisfaction, stating,

“what3words has been shown to significantly improve both delivery accuracy and customer experience.”

Sheldrick is excited to see the technology become a part of Nikola vehicles, highlighting Nikola’s dedication to providing outstanding service experiences.

Nikola (NASDAQ: NKLA) Stock Reaction

NKLA stock rose 3.31% to close at $0.71 on Thursday. The traders had exchanged hands with 66,166,267 (66.16 million) shares compared to the average daily trading volume of 96.95 million.