U.S. Hydrogen Truck Startup Nikola Valued At $ 3 Billion

- Nov 28, 2019-

Arizona startup Nikolamotor wants to shake the truck world with zero-emissions hydrogen and battery-powered semi-finished cars, and the company is making progress toward its $ 1 billion funding goal to make its technology go On track, because CNH Industry promises to invest a quarter of the money.

According to foreign media, European heavy work vehicle maker CNH Industries will invest $ 250 million in D-wheel production by Phoenix-based Nikolamotor, which plans to start shipping its fuel cell trucks from 2022. A hydrogen fuel station was opened to maintain its power. This is by far the largest external investment in Nicholas. The company had previously raised at least $ 265 million in capital and was expected to have a pre-fund valuation of $ 3 billion.

As part of the deal, cnh's iveco and fiat truck and powertrain divisions will provide engineering and manufacturing assistance to nikola, which needs 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 heavyweight companies in the trucking industry including Bosch and Meritor, and Norway's NelHydrogen is providing technology for its fuel stations, which will be powered by Beermaker-Anheuser- Busch and other fleet customers, the company is leasing up to 800 Nikola semi-trucks.

Data show that Fiat Industries has more than 20 years of experience in the field of natural gas engines, and so far has produced about 50,000 natural gas-powered engines. Iveco is the European leader in natural gas vehicles, with approximately 28,000 trucks and buses powered by Fiat industrial engines.

In addition, in addition to the successful introduction of new powertrain technology, Fiat Industries and Iveco have played an important role in the development and expansion of the European gas refueling network. Following a similar path, Nicholas is actively working with partners to develop the required hydrogenation infrastructure in North America and Europe.