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Technology Stocks : Nikola Corp
NKLA 6.270+2.6%9:31 AM EDT

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From: kidl12/23/2020 8:37:21 AM
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Nikola peels off 4% after ending collaboration with Republic Services

Dec. 23, 2020 8:20 AM ET Nikola Corporation (NKLA) By: Clark Schultz, SA News Editor 9 Comments
  • Nikola (NASDAQ: NKLA) says it has discontinued collaboration with Republic Services (NYSE: RSG) on refuse truck development.
  • The collaboration was aimed at designing and building an industry-first fully integrated refuse truck based on a zero-emissions battery-electric drive platform and body while also integrating multiple new systems into a new state-of-the-art vehicle.
  • "After considerable collaboration and review, both companies determined that the combination of the various new technologies and design concepts would result in longer than expected development time, and unexpected costs. As a result, the program is being terminated resulting in the cancellation of the previously announced vehicle order."
  • Source: Press Release
  • Shares of Nikola are down 4.15% premarket. RSG is inactive in the early session.
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