Tesla facing new challenge as competitor goes public


FILE – This Wednesday, March 18, 2020, file photo, shows a Tesla charging station for automobiles in Port Huron, Mich. Tesla’s sales of its increasingly popular electric cars got off to a fast start in the year, even though the company had to slam the brakes along with other major automakers in March 2020 because of worldwide efforts to contain the worst pandemic in a century. (AP Photo/Paul Sancya, File)

(CNN) — Elon Musk and Tesla may be getting a run for their money, not just in the auto market, but also on Wall Street and social media.

The new challenge, coming from Nikola, a company that makes hydrogen fuel cell and battery-powered electric trucks.

Nikola also makes semi trucks.

The company just went public, and its stock has more than doubled in recent days.

As if that was not enough to get Musk’s attention, Nikola founder and Executive Chariman Trevor Milton is bragging about it all on Twitter.

He put out a series of tweets touting pre-orders for the company’s Badger Truck.

He also cheered the fact that Nikola’s Monday closing price made it worth roughly $26 billion.

That is more valuable than Ford and Fiat Chrysler, and nearing the value of GM.

Another interesting tidbit, Nikola is the first name of the famous inventor Nikola Tesla, who is also the namesake of Elon Musk’s Tesla Incorporated.

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