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The up and coming Electric Vehicle company Nikola has struck a deal with one of the Nation's leading refuse service called Republic. Nikola stated that the deal consists of 2,500 fully electric trash trucks. The deal is open to go up to 5,000 if Republic chooses to do so.
Testing of the truck will begin early in 2022, with deliveries beginning in 2023. One super important factor of this deal is that Nikola will be able to sell this vehicle to other refuse companies if the opportunity presents itself. This made the valuation of the company sky rocket after having a rough time last week. This is not an investment website so I will not go into the details. So this is extremely important because it looks like Nikola is approaching the EV market from a different angle unlike all the other companies that are focusing on passenger vehicles. Let me give you an idea of how important the deal is, Republic operates in 41 states with 14 million customers and doing around 5.1 million pickups a day. Nikola might seem like a newcomer in the EV market, but making moves like that will make Nikola one of the pillars of the electric market. Thanks for reading, stay buzzed.
-Bear
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