Nikola beat Wall Street expectations for second-quarter revenue and posted a narrower-than-expected adjusted loss on Friday, pointing to a rise in deliveries of its hydrogen trucks as customers increased spending. Shares of the electric truck maker rose 17% in early trading.

Nikola’s results suggest that the company’s efforts to pivot away from its battery-powered trucks are paying off: The company is winning new customers and seeing an increase in orders for its hydrogen-powered fuel cell vehicles.

According to LSEG data, revenue of $31.3 million was reported for the quarter, beating estimates of $27.1 million.

The company’s deliveries rose 80% to 72 hydrogen trucks in the second quarter, indicating robust demand for its trucks amid an industry-wide economic slowdown.

Nikola also said the company is on schedule to complete the launch of all of its upgraded battery-powered trucks by the end of the year.

After a period of high investment in electric vehicles during the pandemic, the industry’s growth has slowed as consumers factor in range anxiety, higher list prices and uncertain economic outlooks when making expensive purchases.

Weak demand for electric vehicles weighed on the company’s shares, which have fallen more than 70% this year.

The company reported an adjusted loss per share of $2.67, below analysts’ average estimate of $2.85.

In June, Nikola was able to win Walmart Canada as a major customer and supply the retailer with a hydrogen semi-trailer truck.

The company’s cash and cash equivalents were $256.3 million for the quarter, compared to $345.6 million in the prior three-month period.