Iveco Group will assume full ownership of electric truck joint venture Nikola Corporation with Nikola focused on North America and Iveco concentrating on Europe
Having first partnered in 2019, they worked jointly to launch battery electric vehicles (BEV) and fuel cell electric vehicles (FCEV).
Iveco will now concentrate on Europe for further development and commercialisation of its own battery electric and fuel cell electric truck.
Nikola will focus operations on North America, offering BEV, FCEV and hydrogen infrastructure through its HYLA brand.
Iveco will assume full ownership of the joint venture in Ulm, Germany. Iveco will be licensed to freely access and continue developing vehicle control software for the jointly developed BEV and FCEV.
It is understood that Nikola will be granted the IVECO S-Way technology license for North America and related component supply from Iveco Group and will gain joint ownership of the intellectual property of Generation 1 eAxles, technology developed together with Iveco Group’s powertrain brand, FPT Industrial.
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By GlobalDataIn 2021, the two companies signed a memorandum of understanding with Hamburg Port Authority during the inauguration of their joint manufacturing facility in Ulm.
The agreement stated their joint intent to partner in two phases encompassing up to 25 Tre battery-electric vehicles (BEV) for delivery to the port throughout 2022.
At the 2021 agreement signing, Nikola CEO Mark Russell said: “These types of landmark agreements continue to reinforce the global shift we are seeing toward a new zero-emission future.”
Iveco Group will assume full ownership of joint venture Nikola Corporation as the two companies shift their focus to electrified heavy-duty transport.
Having first partnered in 2019, they worked jointly to launch battery electric vehicles (BEV) and fuel cell electric vehicles (FCEV).
Iveco will now concentrate on Europe for further development and commercialisation of its own battery electric and fuel cell electric truck.
Nikola will focus operations on North America, offering BEV, FCEV and hydrogen infrastructure through its HYLA brand.
Iveco will assume full ownership of the joint venture in Ulm, Germany. Iveco will be licensed to freely access and continue developing vehicle control software for the jointly developed BEV and FCEV.
It is understood that Nikola will be granted the IVECO S-Way technology license for North America and related component supply from Iveco Group and will gain joint ownership of the intellectual property of Generation 1 eAxles, technology developed together with Iveco Group’s powertrain brand, FPT Industrial.
In 2021, the two companies signed a memorandum of understanding with Hamburg Port Authority during the inauguration of their joint manufacturing facility in Ulm.
The agreement stated their joint intent to partner in two phases encompassing up to 25 Tre battery-electric vehicles (BEV) for delivery to the port throughout 2022.
At the 2021 agreement signing, Nikola CEO Mark Russell said: “These types of landmark agreements continue to reinforce the global shift we are seeing toward a new zero-emission future.”
