Nikola and Corcentric Sign Agreement to Facilitate Nikola Tre Sales

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Nikola and Corcentric Sign Agreement to Facilitate Nikola Tre Sales
Credit: © Reuters.

By Sam Boughedda — Shares of Nikola Corp (NASDAQ: NKLA ) rose 2.6% Thursday on the news it has signed an agreement with leasing and financing firm Corcentric Fleet Funding Solutions to facilitate sales of Nikola's Tre battery-electric vehicles and the Tre hydrogen fuel cell electric vehicles.

The agreement will see Corcentric purchase vehicles and related assets from Nikola to offer customers a bundled lease that provides trucks and related equipment, as well as fuel and maintenance, in a single deal.

The company said it believes the deal will "reach more customers by offering solutions to those who otherwise may not have access to financing options."

Nikola's Chief Financial Officer, Kim Brady, said: "The agreement will provide Corcentric a launching point to expand its offerings into the electric vehicle space. Together we expect to provide funding resources, multiple options to tailor leases to customer needs, and best-in-class customer care for fleet customers and owner/operators."

With Nikola's share price rising so far Thursday, hitting a high of $9.01, bulls will be hoping it can end the day up to stop its four-day losing streak.

On Tuesday, Nikola announced a multi-year supply agreement with Proterra to power its semi-trucks with Proterra's battery technology.

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