Just a few years back Tesla was praised by the newspapers for creating a ‘micro-monopoly’ over the luxury electric-cars market, but now it is facing more and more competition when it comes to the production of electric trucks. After going public earlier this month, Nikola’s stock has seen a huge increase and investors regard it as a hotspot.
If investors only had two investment options up to now, Hyliion recently announced that the end of the third quarter of 2020 will see its IPO. Taking a similar approach as Nikola, Hyliion is planning its IPO by doing a merger with Tortoise Acquisition Corp. Tesla’s truck is using all-electric batteries and Nikola’s are going to function with a mix of both hydrogen fuel and batteries while Hyliion runs on hybrid.
Who do you think is going to be the leader of the electric truck market in the next few years?
By Iasmina Craciun