Benzinga | Aug 10, 2021 04:46PM EDT

Alta Equipment Inks Dealer Agreement With Nikola

* Alta Equipment Group Inc (NYSE:ALTG) has entered into a dealer agreement with Nikola Corporation (NASDAQ:NKLA) to sell and service Nikola's medium and long-haul Class 8 EV/FCEV trucks in the NY, NJ, eastern PA, and New England markets.

* The financial terms of the agreement were not disclosed.

* This agreement marks Alta's expansion into the Class 8 commercial vehicle/equipment segment and builds upon its eMobility strategy.

* "The Nikola partnership should complement Alta's history of battery-electric and hydrogen fuel-cell technology via their materials handling business and add to its growing eMobility vertical by fulfilling its long-term commitment to clean technologies," commented Nikola President, Energy and Commercial Pablo Koziner.

* Price Action: ALTG shares closed higher by 4.18% at $12.97, while NKLA closed lower by 5.11% at $10.40 on Tuesday.

* Photo by Raquel Baranow via Wikimedia