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Reuters

Nikola shares jump as it starts manufacturing electric trucks

The electric-vehicle maker said at its analyst day on Wednesday it had started manufacturing Tre battery electric vehicle (BEV) at its Coolidge, Arizona facility on March 21 and would deliver 300 to 500 semi-trucks this year. Several electric vehicle makers including legacy automakers such as Ford Motor Co and General Motors that have entered the segment aim to deliver their first EVs this year as demand heats up, but higher raw material prices and supply chain woes have clouded their timelines. The Nikola story has increased credibility now as trucks start to roll off the line, said Jeffrey Kauffman, analyst at Vertical Research Partners, adding the company could surprise with new customer orders.