April 4 (Reuters) - Nikola ( NKLA ) surpassed estimates
for deliveries of its hydrogen big rigs in the first quarter, a
sign it was making progress in its pivot to the technology from
battery electric trucks after some missteps that battered its
share price.
The electric truck maker said on Thursday it has delivered
40 vehicles in the first quarter, compared with the 30 units
estimated by a consensus of four analysts polled by Visible
Alpha.
The company produced 43 trucks in the three months to March
31 and said the remaining hydrogen big rigs in its inventory at
the end of the quarter were set for delivery in early April.
Nikola ( NKLA ) in February set a target to deliver as many as 350
hydrogen-powered fuel cell electric trucks in 2024 and said it
had delivered 35 units in the fourth quarter.
The company had said it would return all battery-powered
trucks to customers by early third quarter after resolving an
issue that caused coolant leaks in the battery pack leading to
fires.
It had also said it was on track to return its first
re-worked battery electric trucks to customers by the end of the
first quarter.
Shares of the company were 8% higher in premarket trading,
after having lost more than 90% of their value since going
public in 2020.