CNH Industrial Invests in Nikola’s D Series

Sept. 3, 2019

CNH Industrial will enter into a 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 the adoption of fuel cell technology,” according to a press release.

Nikola’s zero-emission Heavy Duty Trucks, powered by hydrogen fuel cell and battery technology, will be the first to production. According to a press release, the company foresees creating an industry-first “all-in” lease rate which includes vehicle, service, maintenance, and fuel costs. 

CNH Industrial will take a $250 million strategic stake in Nikola as the lead Series D investor, comprising $100 million cash and $150 million in services such as product development, manufacturing engineering, and other technical assistance. 

Source: CNH Industrial