WABCO invests $10M in Nikola Motor Company; strategic investment in advancing electric commercial vehicle sector
WABCO Holdings Inc., a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, made a $10-million strategic investment in Nikola Motor Company, developer of a Class 8 hydrogen fuel cell range-extended electric truck. (Earlier post.)
WABCO said that he transaction further demonstratesits commitment to advance the development of electric and highly automated commercial vehicles in North America and around the globe. In addition to the strategic investment, WABCO and Nikola signed an agreement to accelerate the development of industry-leading safety technologies specifically designed for electric commercial vehicles, including electronic braking systems (EBS), as well as traction and stability control technologies.
Nikola plans to begin testing its zero emission trucks with commercial vehicle fleets in late 2018 and launch full production in 2021.