By Sam Boughedda
Investing.com -- Nikola Corporation (NASDAQ:NKLA) shares jumped Thursday on the news it confirmed the start of production of its electric commercial truck, the Tre, last week.
Production has begun at the company's Coolidge, Arizona factory.
Last month, the company said in its earnings call that production will begin on March 21, and the company looks to have met that goal.
The company is also developing a fuel-cell-powered electric truck, the Tre BEV, with production for the European market expected to begin at its German factory in June 2023.
Shares of Nikola, rose 15% at the open, hitting a high of $10.90, putting them in the green for the year. However, they still have some way to go before reaching their all-time intraday high of over $93, which it achieved during the first year of the pandemic.