Nikola Corporation (NASDAQ: NKLA) stock slid almost 7% on Monday despite opening its first hydrogen refueling station in Southern California.
Nikola Corporation (NKLA) has opened its first hydrogen refueling station in Southern California. This new station specifically caters to refueling Class 8 hydrogen trucks, capable of servicing up to 40 trucks daily. Furthermore, Nikola assures round-the-clock assistance at this refueling hub.
This milestone marks just the beginning of Nikola’s ambitious plan to establish 60 such refueling stations in the near future, with the goal of having nine operational by the close of the second quarter of 2024. This initiative aligns with the company’s broader vision of promoting the adoption of hydrogen-powered vehicles.
Commenting on this development, Nikola President of Energy Ole Hoefelmann underscored the company’s commitment to facilitating the shift towards zero-emission trucking. He stated,
“Easing the transition to a zero-emission trucking future and prioritizing access to a hydrogen solution network is our top objective and we’re just getting started. Once the nine planned solutions are in place by mid-2024, Nikola will have established one of the world’s largest heavy-duty hydrogen refueling networks, providing customers accessibility at their current locations and along their planned routes.”
Nikola (NASDAQ: NKLA) Stock Price Action
NKLA stock plunged 6.81% to close at $0.68 on Monday. The traders had exchanged hands with 80,883,730 (80.88 million) shares compared to the average daily trading volume of 95.90 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
