Nikola Corporation (NKLA)

[srm4u]

Here’s Who’s Funding Hydrogen Truck Builder Nikola Motor
September 23, 2019
THE BIG NEW INVESTOR
Milton said that truck and bus giant CNH Industrial, parent of IVECO trucks, will put up a quarter of the $1 billion being sought in Series D.

That $250 million is the company’s largest single outside investment to date. It would give CNH a 6.25 percent stake if Nikola raises the entire $1 billion it is seeking.

But only $100 million of the CNH investment is cash. The remaining $150 million will be in-kind services and goods, mainly a fully engineered truck platform designed for the kind of electric propulsion system Nikola has developed.

IVECO and CNH’s powertrain unit, FPT Industrial, also will provide ongoing engineering and manufacturing assistance. It also will help with development of Nikola’s hydrogen fuel station network.

Here’s what Trucks.com has compiled about Nikola’s other investors, and a look at what they might be bringing to the table besides cold hard cash.

BOSCH AND HANWHA
Bosch Co. and Hanwha Group: $230 million combined. Milton disclosed the investments in conjunction with the Series D announcement. But they actually occurred in earlier funding rounds during 2018. The total represents the bulk of the cash Nikola has previously raised.

Nikola said that each has invested at least $100 million but won’t provide any clearer guidance.

Hanwha, a South Korean aerospace, chemicals, construction, financial services and video surveillance conglomerate, got its start in 1952 as Korea Explosives Co. Now it also is a major producer of solar cells and panels.

In addition to its cash investment, Hanwha will supply Nikola with material to build a network of solar-powered hydrogen fuel and electric charging stations. They will provide power for the fuel-cell and battery-powered electric trucks Nikola will be building.
https://www.trucks.com/2019/09/23/funding-hydrogen-truck-builder-nikola-motor/
https://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0001731289
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001731289&type=&dateb=&owner=include