Many fleet operators are inclined to use more electric vehicles as they aim to reduce carbon emissions and meet sustainability targets, however, the lack of proper infrastructure has been a deterrent. Nikola said with access to ChargePoint's products it will be able to reduce the time required to build infrastructure projects that will help its customers manage charging of their vehicles, plan schedules and streamline delivery routes.
It is now my pleasure to introduce Nikola's director of investor relations, Henry Kwon. With me today are Mark Russell, chief executive officer; Michael Lohscheller, president of Nikola; and Kim Brady, chief financial officer.
After initially slumping, both Ford (NYSE: F) and Tesla (NASDAQ: TSLA) were up about half a percentage point this morning. Nikola also described progress it has made toward building a hydrogen energy business. Nikola also said it wants to build 60 hydrogen fueling stations for large trucks by 2026.