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April 14, 2021, 6:14 a.m. EDT

Nikola teams with CNH's IVECO, OGE on developing a hydrogen transportation network

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By Tomi Kilgore

Shares of Nikola Corp. /zigman2/quotes/208704275/composite NKLA +13.41% jumped 3.7% in premarket trading Wednesday, after the battery-electric and hydrogen-electric vehicle maker announced a collaboration agreement with CNH Industrial N.V.'s IVECO and OGE to establish a business structure for the transportation of hydrogen. OGE operates a natural gas pipeline network in Germany. CNH shares slipped 0.6% ahead of the open. The collaboration is for transporting hydrogen through from production sources through a pipeline network to hydrogen fueling stations that support fuel-cell elective vehicles (FCEV). "We believe this collaboration, in particular, presents a very compelling long-term fueling distribution solution that we expect to advance industry and overall market adoption of FCEV technologies," said Pablo Koziner, Nikola's president of energy and commercial. Nikola shares have dropped 21.0% year to date, while CNH's stock has rallied 22.0% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% has gained 10.3%.

/zigman2/quotes/208704275/composite
US : U.S.: Nasdaq
$ 11.50
+1.36 +13.41%
Volume: 19.11M
May 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.53 billion
Rev. per Employee
$211.11
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/zigman2/quotes/210599714/realtime
US : S&P US
4,232.60
+30.98 +0.74%
Volume: 2.05B
May 7, 2021 5:15p
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