Nikola has focused primarily on commercial trucks. [Source: BBC]

An electric truck company that has yet to deliver a single vehicle already has a market value higher than industry stalwart Fiat Chrysler.

Since listing on the Nasdaq last week, the US start-up Nikola has seen its share price more than double, sending its market value to $26.3bn (£20.5bn).

The gains came after the firm announced on Twitter when it would accept orders for its pick-up truck.

The dramatic surge drew comparisons to more established rival Tesla.

Tesla has also seen its market value eclipse traditional competitors, despite having much smaller sales and a long history of financial losses.