Press release
127KB
december 04, 2019 - Iveco
IVECO, FPT Industrial and NIKOLA launch their partnership to achieve Zero-Emissions transport
CNH Industrial brands present the scope of the #partnership with #nikola and its ambitious goal of achieving zero emissions.
IVECO and #fptindustrial, brands of CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) and #nikola today presented the scope and plans of their joint venture and collaboration agreement established to accelerate industry transformation towards emission neutrality of Class 8 heavy-duty trucks in North America and Europe through the adoption of fuel-cell technology.
This comes three months after CNH Industrial’s announcement at its Capital Markets Day, held on September 3 2019, involving its #iveco commercial vehicles brand and its powertrain division #fptindustrial, of the intention to enter into a strategic #partnership with #nikola Motors. The primary focus of the agreement is to leverage the partners’ respective expertise to successfully deploy Zero-Emission heavy-duty trucks and to disrupt the industry with a new business model.
The #partnership includes the creation of a European joint venture to develop and distribute cab-over hydrogen fuel-cell and battery-electric trucks for the European market. #nikola will provide its class-leading fuel-cell expertise and advanced technologies, as well as its disruptive business model that foresees an industry-first all-inclusive lease rate. #iveco, together with #fptindustrial, will contribute their engineering and manufacturing expertise to industrialize the fuel-cell and battery electric trucks.
IVECO, #fptindustrial and #nikola have started development of the joint-venture’s first #truck: the battery electric #nikola TRE, which is based on the new #iveco S-WAY heavy-duty #truck platform and integrates NIKOLA’s proprietary technology, controls and infotainment. Testing is expected to begin in mid-2020, with the European public launch planned for the IAA September 2020 commercial vehicle exhibition in Hannover, Germany. Sales and aftersales support of the #nikola TRE will be provided by IVECO’s widespread European dealer network.
“The increasing focus on the recognition that there needs to be fundamental reductions in #automotive emissions is driving our industry to rapidly seek advanced technological solutions,” said Hubertus Mühlhäuser, Chief Executive Officer, CNH Industrial. “This joint-venture with #nikola is testament to both partners’ technical expertise, which will result in tangible environmental benefits for Europe’s long distance hauliers.”
“This #partnership is a win-win for everyone involved. From the moment we launched the #nikola ONE in 2016, #truck drivers and government officials have been asking for us to bring #nikola to Europe," said Trevor Milton, Chief Executive Officer, #nikola Motors. "We needed the right partner to help us enter the European market and CNH Industrial is the right commercial partner.”
London, December 3, 2019
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