|Bid||165,500.00 x 0|
|Ask||166,000.00 x 0|
|Day's Range||161,000.00 - 172,000.00|
|52 Week Range||65,000.00 - 180,500.00|
|Beta (5Y Monthly)||0.73|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 22, 2020 - Oct 26, 2020|
|Forward Dividend & Yield||3,000.00 (1.74%)|
|Ex-Dividend Date||Dec 27, 2019|
|1y Target Est||138,692.00|
Shares of electric-heavy-truck start-up Nikola (NASDAQ: NKLA) were trading higher on Thursday, after it confirmed that it is open to partnering with Korean auto giant Hyundai (OTC: HYMTF) on hydrogen technology -- even though the two companies could become rivals. As of 3 p.m. EDT, Nikola's shares were up about 5.5% from Wednesday's closing price. In an interview published on Sunday by South Korean newspaper Chosun Ilbo, Nikola founder Trevor Milton said that he would like to cooperate with Hyundai on hydrogen fuel-cell technology.
Nikola Corporation (NASDAQ: NKLA) founder Trevor Milton is keen on a collaboration with Hyundai Motor Co (OTC: HYMTF) on hydrogen technology, a spokesperson for the electric vehicles company told Reuters. What Happened "Trevor has immense respect for Hyundai and views Hyundai amongst the leaders in hydrogen around the world." Nicole Rose said in an emailed statement to Reuters, confirming Milton's intent to work with Hyundai. "Trevor has, and will continue to be, open to collaborate if they ever choose to do so," the Nikola spokesperson added.The two automakers are not in talks as of now, according to an unnamed source of Reuters, who said, "If Nikola makes an official offer, Hyundai can consider the proposal."Why It Matters Milton had told local Korean media on Sunday that he intended to cooperate with Hyundai, but the veteran automaker rejected his proposals twice. Hyundai and Toyota Motor Corp (NYSE: TM) are amongst the few companies betting on hydrogen technology, noted Reuters.The South Korean auto giant wants to sell its hydrogen systems to other companies, but since Nikola is a potential competitor to its commercial truck business, it would be a "complicated relationship," a Reuters source said. Hyundai is reportedly already partnering with Volkswagen AG (OTC: VWAGY) unit Audi. Meanwhile, Nikola has its own ambitions and is planning to commence production of its Badger pickup truck in 2021, which Milton claims is a rival to Ford Motor Company's (NYSE: F) legendary F-150 truck and is a true pickup, unlike Tesla Inc's (NASDAQ: TSLA) upcoming Cybertruck. Price Action Nikola shares closed 4.16% higher at $42.81 on Wednesday and fell nearly 0.4% in the after-hours session. Hyundai OTC shares closed nearly 0.3% higher at $37 on the same day. Photo courtesy: Nikola CorporationSee more from Benzinga * Chinese Nio, Tesla Electric Vehicle Competitor Li Auto Raises .1B In US IPO * Ford's Latest F-150 Pickup Debuts Thursday With Sleeper Seat, Optional Onboard Generator(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
U.S. electric truck maker Nikola <NKLA.O> said it was open to collaborating with Hyundai Motor <005380.KS> on hydrogen technology following a media report that it had reached out to the Korean automaker. In an interview with South Korean newspaper Chosun Ilbo published on Sunday, Trevor Milton, founder of Nikola Corp, said he would like to cooperate with Hyundai. Hyundai, along with Toyota Motor Corp <7203.T>, are among the few automakers championing hydrogen technology.