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Sept. 2, 2021, 8:29 a.m. EDT

Nikola's stock rallies after fuel-cell manufacturing agreements with Bosch

Shares of Nikola Corp. (NAS:NKLA) ran up 4.6% in premarket trading Thursday, after the electric commercial truck maker announced agreements with the Germany-based Bosch Group of companies for Nikola Class 7 and Class 8 fuel-cell electric vehicles (FCEVs). As part of the agreements, Bosch will supply fuel-cell power modules and components for Nikola to assemble at its facility in Coolidge, Arizona. Nikola plans to expand the Coolidge facility by 50,000 square feet and add up to 50 jobs by 2023. Nikola expects to begin road testing of its Tre FCEV by the end of 2021. Nikola's stock has tumbled 41.3% over the past three months through Wednesday, while the S&P 500 (S&P:SPX) has gained 7.5%.

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