PHOENIX, Ariz. — Nikola Corp. said Wednesday it has completed its previously announced merger with VectoIQ Acquisition Corp., following approval by VectoIQ stockholders.
The combined company’s shares will trade on Nasdaq under the new ticker symbol “NKLA”, starting Thursday.
Nikola said the merger will help accelerate vehicle production, allow it to break ground on its manufacturing facility in Coolidge, Ariz., and continue its hydrogen station infrastructure rollout.
“This is a significant endorsement in fuel-cell and battery-electric technology,” said Nikola’s founder and executive chairman Trevor Milton.
“With our Nikola IVECO joint venture, and over $10 billion in pre-order reservations, Nikola is positioned to be a wonderful story of how one company can literally change the world.”
Stephen Girsky, CEO of VectoIQ, said his team is proud to support Nikola in its transition to a public company.
The combined company expects to generate revenue by 2021 with the rollout of its Nikola Tre Class 8 battery-electric vehicle, followed by the Nikola Two Class 8 FCEV starting in 2023.
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