Hydrogen and electric vehicle company Nikola Corporation NKLA announced the launch of a new brand and provided several corporate updates after the market closed. Here are the highlights.

What happened: Nikola announced the launch of a new brand for hydrogen energy called “HYLA” during a live event Wednesday in Phoenix, Arizona.

The new brand will include “the company’s energy products for manufacturing, distributing and dispensing hydrogen to fuel its zero-emission trucks.”

The company said more than 300 people attended Nikola’s announcement, including members of the media, government officials, fleet and supplier representatives, and representatives from energy companies.

“Nikola is the only company to successfully integrate a revolutionary new product, the Trucks with hydrogen fuel cellsand the entire hydrogen energy infrastructure supply chain under one roof,” CEO of Nikola Michael Loscheller.

President of Nikola Energy Carey Mendes called hydrogen energy the “catalyst for the HYLA brand” and said the new brand represents the company’s focus on supporting its own fuel cell electric vehicles and other OEMs.

Under the HYLA brand, Nikola would provide access to up to 300 tons of hydrogen per day, covering previously announced projects by the company. The Phoenix Hydrogen Hub would start at 30 tons per day and expand to 150 tons in further stages. Construction of the first phase should be completed in the second half of 2024.

Nikola plans to launch 60 hydrogen fueling stations under the HYLA brand by 2026, with California and Ontario being among the first locations.

the Nikola Tre FCEV was on site at the live event and was demonstrated to the participants. The vehicle has a range of 500 miles, which is expected to be one of the longest ranges of any commercially available zero tailpipe Class 8 vehicle. It also brings weight savings over Class 8 battery electric trucks.

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