You may not have heard of Nikola Motors, but the American hydrogen-fuel-cell truck maker has made a dramatic debut on the stock market.
The start-up, described as the Tesla of the truck world, went public last week and has since surged in value, ending Tuesday's trading with a value of more $28.8 billion (Rs 213,148 crore) – higher than Ford and more than double the market cap of Fiat Chrysler Automobiles.
The company, based in Arizona, recently revealed that its fuel-cell pick-up truck will be called the Badger. Pre-orders for the model will open on 29 June, and it will be displayed at the company's annual Nikola World event later this year.
Nikola founder Trevor Milton claims showgoers will "get to see a real operating truck, not a fake show truck" that will have "stamped metal panels" and a "functioning interior". It's assumed that these declarations are an oblique reference to the Tesla Cybertruck, which was unveiled last year.
Like Nikola's heavy goods trucks, which are yet to enter production, the Badger offers a choice of powertrains. It can be supplied as a conventional battery EV with a claimed range of 300 miles or it can be powered by a 120kW hydrogen fuel cell for a range said to be double that of the BEV.
Nikola claims the 5.89m-long Badger can put out 894bhp peak (or 449bhp continuously) and 980lb ft of torque. That translates to a quoted 0-100kph time of 2.9sec and a promised towing capacity of more than 3600kg.