Nikola Corporation (NKLA)

[srm4u]

CNH, a European maker of heavy-duty work vehicles, is investing $250 million into a Series D round by Phoenix-based Nikola, which aims to start shipping its fuel-cell trucks and opening hydrogen-fuel stations to keep them powered up from 2022. It’s the biggest outside investment in Nikola to date, which previously raised at least $265 million and has an estimated pre-money valuation of $3 billion.

As part of the deal, CNH’s Iveco and FPT truck and powertrain units will provide engineering and manufacturing assistance to Nikola, which needs the funding to build a truck assembly plant near Phoenix and a network of hydrogen fuel and electric-vehicle charging stations. Nikola is already working with truck industry heavyweights including Bosch and Meritor, while Norway’s NEL Hydrogen is providing technology for its fuel stations that will be used by fleet customers like beermaker Anheuser-Busch, which is leasing up to 800 Nikola semi-trucks.

https://www.forbes.com/sites/alanohnsman/2019/09/03/heavy-duty-fuel-hydrogen-truck-startup-nikola-gets-250-million-investment-from-cnh-industrial/#774dc8313f58

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