Tesla competitor goes public, unveils new electric truck

CNN

by: CNN NEWSOURCE

Posted: Jun 10, 2020 / 08:25 AM EDT

Updated: Jun 10, 2020 / 08:25 AM EDT

CALIFORNIA (CNN) — Elon Musk and Tesla may be getting a run for their money — not just in the auto market, but also on Wall Street and social media.

The new challenge comes from Nikola, a company that makes hydrogen fuel cell and battery-powered electric trucks.

The company just went public, and its stock has more than doubled in recent days. As if that wasn’t enough to get Musk’s attention, Nikola founder and executive chairman Trevor Milton is bragging about it all on Twitter.

I've wanted to say this my whole adult life; $NKLA is now worth more than Ford and FCA. Nipping on the heels of GM. It may go up or down and that's life but I'll do my part to be the most accessible and direct executive on Twitter. Others will follow.
— Trevor Milton (@nikolatrevor) June 9, 2020

Milton put out a series of tweets touting pre-orders for the company’s Badger truck. He also cheered the fact that Nikola’s Monday closing price made it worth roughly $26 billion. That’s more valuable than Ford and Fiat Chrysler.

Another interesting tidbit: Nikola is the first name of the famous inventor Nikola Tesla — who is also the namesake of Elon Musk’s Tesla Inc.

LATEST STORIES: