Nikola stock jumped 8% in early trading on Thursday, a less-than-truckload company, announced it has signed a letter of intent to buy or lease 100 Nikola Tre heavy-duty battery-electric cars.

The idea is part of a joint effort by the two corporations to speed up the adoption of heavy-duty electric transportation trucks. The agreement to buy or lease the vehicles, however, is still contingent on the successful execution of a demonstration programme.

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Three battery-electric vehicle trucks will be used in distinct places within the Saia network as part of the demonstration programme. In the first half of 2022, the programme is expected to commence.

The 100 production vehicles are expected to be delivered between 2022 and 2024, with the first 25 scheduled for 2022.

Nikola President, Energy and Commercial Pablo Koziner remarked, "We are thrilled that Saia has chosen to work with us," "Saia is a leader in the freight and logistics industry, and will be a key development partner for Nikola."

"We are excited to partner with Nikola Corporation as we work to integrate battery-electric trucks into our tractor fleet." remarked Saia President and CEO Fritz Holzgrefe.

USA Truck said on Wednesday that it has signed a letter of intent to purchase ten Nikola Tre BEV trucks.