The proposed joint venture between the two companies would supply European customers with Class 8 Nikola trucks along with services and green hydrogen infrastructure as a single solution.

Lohscheller is now promoted to President and CEO of the corporation, roles which Mark Russell will be giving up when he retires at the end of the year.

Hydrogen fuelling stations will be located in the cities of Colton and Ontario and in the Port of Long Beach - with more to follow in the near future.

Nikola believes that, by bringing battery development and production for its Class 8 electric trucks in-house, it will be able to accelerate rollout and to bring down costs by USD350m per year from 2026.

Finance will be made available to customers of Nikola's Class 8 electric trucks as well as current and future Nikola dealerships.

Nikola reported net losses of USD159m in Q4 2021 and USD690m for FY 2021.

Lohscheller joins the American firm from Vietnamese automotive manufacturer VinFast.

According to the terms of the multi-year agreement, Proterra will start delivering prototype battery systems to Nikola in Q2 2022, with the aim of fitting new trucks with its batteries beginning in Q4.

This means that California-based customers could receive a USD120,000 incentive per Nikola BEV truck as part of the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project.

The American company has also received letters of intent from USA Truck and Covenant Logistics to purchase up to an additional 150 trucks.

The sum is to be paid in five instalments, following the resolution of a government investigation which was initiated by fraud allegations against the company's founder, Trevor Milton.

Heniff Transportation will lease 10 trucks on a 'fleet-as-a-service' basis, with 90 more units to follow upon successful deployment of the initial order.