Nikola is one of Tesla's competitors in the electric vehicle market, especially since Tesla also intends to launch a truck.

The startup announced, according to CNBC, that it will deliver the first electric trucks in the second quarter. Production started on Monday, and the company's shares increased by 4%. However, the company's shares are still at a fairly low level, following the ethical issues they have had in the past. In 2020, its CEO and founder, Trevor Milton, resigned due to ethical issues, and shares have plummeted.

Nikola Tre, a battery-powered truck, is designed for shorter routes, with an estimated range of 563 kilometers. Nikola expects to deliver between 300 and 500 trucks this year and increase production by 2023.

The next version for Tre will be a hydrogen-powered one, which would have a range of 800 kilometers. Nikola promises to bring a new generation of batteries in 2025, which would have a range of over 1,000 kilometers.