Electric vehicle manufacturer Nikola Corp (NASDAQ:NKLA) announced it will sell up to 75 of its Tre fuel-cell electric vehicle to hydrogen solutions provider Plug Power (NASDAQ:PLUG) over a three-year period.
The Tre vehicles will work with Plug’s liquid hydrogen tankers to help deliver green hydrogen to North American customers, Nikola said in a statement.
Phoenix, Arizona-based Nikola started producing the Tre, which has a range of up to 330 miles, in March 2022.
Additionally, Nikola said it had chosen Plug to provide its fully integrated liquefaction system for a recently announced hydrogen hub project in Arizona, which will be engineered to produce 30 metric-tons per day in its first phase, scaling up to 150 metric tons per day.
The two companies also struck a 125 metric-tons per day green hydrogen supply agreement to provide Nikola with a minimum of 100 metric-tons per day of hydrogen, with the option to increase volume over time.
Nikola can source hydrogen from multiple locations across the country as Plug continues to bring on new supply facilities, according to the company.
Shares of Nikola were trading around 0.2% lower in New York at $2.11, while Plug Power (NASDAQ:PLUG) was down 2.6% at $14.82.
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