Iveco finalises the acquisition of Nikola Iveco Europe
By Luke Willetts - 4th July 2023
Germany – At the end of June, Iveco Group NV – the holding company of Italian CV manufacturer, Iveco SpA which is incorporated in Amsterdam, Netherlands – finalised its acquisition of the Nikola Iveco Europe GmbH joint venture based in Ulm, Baden-Württemberg, Germany. Iveco now solely owns the German company, resulting from the former joint venture with the Nikola Corporation of Phoenix, Arizona, USA. Nikola Iveco Europe will now be renamed as EVCO (Electric Vehicles Company).
Iveco has acquired the manufacturing facility in Ulm, which was opened in 2021 for the assembly of Nikola ‘Tre’ battery- and fuel cell-electric trucks for the European market. The group will also be licensed to use Nikola’s proprietary vehicle control software, with permission to freely modify and develop it for the trucks built at Ulm.
