CNH Industrial Teams Up With NIKOLA For Zero-Emission Trucks
Zacks Investment Research | Dec 04, 2019 09:46PM ET
CNH Industrial N.V.’s (NYSE:CNHI) brands, IVECO and FPT Industrial, recently announced the company’s collaboration with NIKOLA to transform Class 8 heavy-duty trucks into emission-neutral ones in North America and Europe through the adoption of fuel-cell technology. The agreement also includes the development and distribution of cab-over hydrogen fuel-cell and battery-electric trucks via a European joint venture.
NIKOLA is expected to advance its first all-in lease-rate disruptive business model as well as class-leading fuel-cell expertise and advanced technologies to deploy zero-emission heavy-duty trucks. Meanwhile, IVECO and FPT Industrial will provide their engineering and manufacturing know-how to industrialize the fuel-cell and battery-electric trucks.
Reportedly, IVECO, FPT Industrial and NIKOLA have already begun working on the first truck, the battery electric NIKOLA TRE. Testing of the same is anticipated to take place in mid-2020. The latest model incorporates NIKOLA’s proprietary technology, controls and infotainment, and is based on the IVECO S-WAY heavy-duty truck platform. Moreover, sales and after-sales support of the NIKOLA TRE will be extended by IVECO’s wide-ranging European dealer network.
In the past three months, CNH Industrial has gained 0.1% compared with the Zacks Investment Research
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