September 5, 2019
Fuel-Cell Semi Truck Startup Nikola Gets $250M Investment from CNH Industrial
Nikola, the startup working to bring fuel-cell-powered semi trucks to market has announced a $250 million investment from CNH Industrial during its Series D round of funding. CNH Industrial operates Iveco and FPT Industrial; the two subsidiaries are enormous players in the commercial vehicle and powertrain market and CNH’s backing gives Nikola much-needed credibility as it looks to revolutionize semi trucks and their powertrains. Per Tuesday’s announcement, Iveco and FPT will bring its engineering manufacturing background to help prepare Nikola’s powertrains and semi trucks for production.
