Republic Services (RSG) announced a partnership with Nikola Corp. (NKLA) to develop and purchase 2,500 electric waste and recycling collection trucks, which the company said represents "the industry's first large-scale commitment to fleet electrification."

The zero-emissions vehicles, which will have a range of 150 miles and recharge overnight, are expected to be integrated into Republic Services' fleet beginning in 2023. The deal is expandable to 5,000 vehicles over the life of the agreement.

In pre-market trading following the deal announcement, Nikola shares are up $5.07, or 13.8%, to $41.79.