Electric-vehicle startup Nikola Corp said on Tuesday it has partnered with charging facilities operator Voltera to develop up to 50 HYLA-brand hydrogen fueling stations in North America over the next five years.
The agreement underpins Nikola's previously announced plan to develop 60 stations by 2026.
"Our partnership with Voltera will bring substantial capital and expertise to support Nikola's plans to build refueling infrastructure to support its customers," said Carey Mendes, President of Nikola Energy.
Voltera will build, own and operate the stations, while Nikola will supply the hydrogen fuel and provide technical expertise, the EV company said.
Shares rose 1.6 per cent before the bell.