CNH Industrial makes USD250m strategic investment in Nikola Corporation
By Jim Gibbins - 1st September 2019
UK / USA – London-headquartered CNH Industrial N.V. is to enter into a strategic and exclusive Heavy-Duty Truck partnership with Nikola Corporation, based in Phoenix, Arizona, to accelerate industry transformation towards emission neutrality of Class 8 / Heavy-Duty Trucks in North America and Europe through adoption of fuel-cell technology.
Nikola’s zero-emission heavy duty trucks, powered by proprietary hydrogen fuel cell and battery technology, it claims, will be the first-to-production. The company’s disruptive business model foresees an industry-first ‘all-in’ lease rate, which includes vehicle, service, maintenance and fuel costs, providing long-term total cost of ownership certainty at or below diesel costs.
