It seems like everybody's talking about Nikola (NASDAQ: NKLA) these days. The alternative-fuel trucking upstart now has a bigger market cap than Ford despite never having sold -- or even manufactured -- a single non-prototype vehicle. But that hasn't stopped people from comparing it to Tesla (NASDAQ: TSLA), the reigning king of alternative-fuel vehicles, which is also preparing to enter the trucking market.
Nikola's plan has been tried before...unsuccessfully. But here's why it might succeed where others have failed.
Nikola has generated lots of hype by unveiling a rendering of its Badger all-electric pickup. Image source: Nikola Corporation.