London, March 3, 2020
Today’s announcement of Nikola Corporation’s intended listing on the NASDAQ Exchange,
New York, U.S.A. later this year, through its merger with VectoIQ, is fully supported by CNH
Industrial N.V. (NYSE:CNHI / MI:CNHI).
“This is exciting news and another key milestone for our joint project to deliver zero emission
Heavy-Duty Trucks and hydrogen infrastructure through a unique business model. Nikola’s
NASDAQ listing gives further impetus to the ambitious targets we have set ourselves, to be at
the forefront of scalable clean technology investments transforming our businesses and
environment alike,” said Hubertus Mühlhäuser, Chief Executive Officer, CNH Industrial.
CNH Industrial entered into a strategic and exclusive Heavy-Duty Truck partnership with Nikola
in September 2019 as the lead Series D investor, with a $250 million stake. IVECO and FPT
Industrial, the commercial vehicle and powertrain brands of CNH Industrial, recently
announced they will manufacture, through their European Joint Venture with Nikola Motor
Company, the Nikola TRE, battery electric (BEV) Heavy-Duty Truck, at IVECO’s Ulm,
Germany manufacturing site. Start of production is anticipated within the first half of 2021.
“Nikola’s unswerving ambition to comprehensively transform our industry and its
environmental footprint represents a great non-cyclical growth path for the business. Listing at
NASDAQ, in order to raise funds in today´s market environment, is clear recognition and
support of the project’s strategic direction,” said Gerrit Marx, President Commercial and
Speciality Vehicles, CNH Industrial.