Iveco Group will buy full ownership of its joint venture with US start-up Nikola Corp as both companies enter their next phase of partnership in developing zero-emission vehicles.
Iveco will assume full ownership of the venture in Ulm, Germany and be licensed to fully access and continue developing vehicle control software for the jointly developed FCEVs and battery electric vehicles (BEV).
The two companies will now sharpen their focus on heavy-duty transport, with Iveco concentrating on Europe for further development and commercialisation of fuel cell electric trucks (FCEV), while Nikola will concentrate on its operations in North America, offering FCEV and hydrogen infrastructure through HYLA.
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