Electric-truck startup Nikola  (NKLA) – Get Report postponed its in-person Nikola World conference due to the coronavirus outbreak and stood by its plan to start sales in late 2021.

Shares of the Phoenix company at last check were up 11% to $19.78.

“Due to covid-19 audience-size restrictions at Arizona’s major venues, we have made the decision to reschedule an in-person Nikola World until we can bring the Nikola community together safely,” Nikola said in a statement.

The company maintained in a statement that it “remains committed to achieving” a set of milestones to develop its commercial truck.

“Nikola expects the first batch of five prototypes of the Nikola Tre, a 100% battery-electric truck, will be substantially completed at our joint venture facility in Ulm, Germany, in the next few weeks,” the company said. 

“We remain confident in our ability to begin production of the Tre and make it available to customers starting in the fourth quarter of 2021.”

Nikola also said it continues to make progress developing its one-million square-foot manufacturing facility in Coolidge, Ariz., which is scheduled to be completed by mid-2023.

Source Article