Electric vehicle manufacturer Nikola Corp (NASDAQ:NKLA) reported a notable increase in both wholesale and retail sales of its electric vehicles in the second quarter, signaling positive momentum for the struggling startup.
The company announced that retail sales of its trucks doubled to 66 during the quarter, while wholesale figures rose from 31 to 45.
However, Nikola's production output decreased to 33 trucks in the second quarter compared to 63 trucks in the previous quarter.
Nikola CEO Michael Lohscheller told shareholders that the company is “witnessing a remarkable surge in momentum.”
"We take great pride in our current achievements and the influx of orders coming in for our soon-to-be-produced hydrogen fuel cell electric truck. I believe there has not been a better time to be at Nikola as we move forward, together,” Lohscheller said in a statement.
The news followed Nikola's recent announcement that it would commence the liquidation of assets belonging to Romeo Power, a battery maker it acquired less than a year ago.
Shares of Nikola rose around 5.8% on Wednesday to trade at US$1.45 by midday.
Contact Angela at angela@proactiveinvestors.com
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