Shares of Nikola rose Thursday after the company said it would begin delivering its long-awaited hydrogen-electric trucks at the end of the month.
The stock was up 26%, to $1.10, in mid-day trading, its largest percent increase since July. Shares are down 49% this year.
The Phoenix-based zero-emissions truck maker said late Wednesday that it had received 210 non-binding orders for its new line, including from large fleet operators including J.B. Hunt and Biagi Bros.
Chief Executive Steve Girsky said the company planned to deliver those vehicles in late September and early October.
Nikola began production of its hydrogen fuel-cell trucks in July and the first truck came off the line two weeks ago, Girsky said.
The company also said late Wednesday that it was in the process of replacing coolant lines in its battery-electric trucks after the company initiated a voluntary recall due to a battery defect.
Nikola said it did not yet have a timeline or cost estimate for the recall, but that the company had not observed any new battery issues in trucks that remain in operation. The company has said the recall will not effect the hydrogen fuel-cell truck rollout.