Nikola (NASDAQ:NKLA) says its Nikola Tre battery-electric vehicle is approved by the California Air Resources Board as a zero-emission vehicle.
The company says the approval means that purchasers of the Nikola Tre BEV can qualify for an incentive valued at $120,000 per truck. The incentive will be a selling point as the company looks for larger fleet orders.
The Nikola Tre BEV is expected to have the longest range among the current HVIP eligible Class 8 tractors at 320 miles.
Shares of Nikola (NKLA) are up 3.83% premarket to $10.84. NKLA still trades below its 50-day, 100-day and 200-day moving averages.