ULM, Germany, Sept. 15, 2021 /PRNewswire/ -- An exciting
new chapter in IVECO and Nikola Corporation's sustainable transport
story set course today in Ulm, Germany as the manufacturing facility
dedicated to the Nikola Tre electric heavy-duty trucks was unveiled
to the public, ready to start production by year end. A milestone
reached at record speed and delivered on schedule as previously
communicated by IVECO, the commercial vehicles brand of CNH
Industrial (NYSE: CNHI / MI: CNHI), and Nikola Corporation (NASDAQ:
NKLA). The first Nikola Tre models produced here will be delivered
to select customers in the United
States in 2022. In addition to the battery-electric vehicle
(BEV) production model, the next evolution of this modular
heavy-duty platform was also on display to the public in the form
of the fuel cell electric vehicle (FCEV) prototype of the Nikola
Tre. This subsequent model will enter production in Ulm by the end
of 2023.
Today's launch event was hosted in accordance with current
COVID-19 standards and was limited to a select gathering of about
100 international and national stakeholders and media. Among those
in attendance were Gerrit Marx,
President Commercial & Specialty Vehicles at CNH Industrial and
designated CEO of the Iveco Group; Mark
Russell, Chief Executive Officer and President of Nikola;
Winfried Herrmann, State Minister of
Transport in Baden-Württemberg; Martin
Bendel, First Mayor of the city of Ulm; Massimiliano Lagi, Consul General of
Italy in Stuttgart, Germany.
"Despite all the industry and global pandemic challenges we have
been facing since we first announced this partnership in
September 2019, it is extremely
rewarding to be able to stand here today as a team and witness the
execution of all of our hard work delivered on time and according
to our original plans," said Gerrit
Marx during his opening address. "Thanks to IVECO's proven
expertise and established footprint we have provided a platform
upon which Nikola's technology can thrive. Now our focus is on
ensuring the success of this operation and jointly taking the lead
when it comes to climate-neutral long- and short-haul heavy-duty
transport."
Spanning 50,000 square meters, of which 25,000 are covered, the
Ulm manufacturing facility features a final assembly process that
has been designed for "electric-born" vehicles. This site, and
first phase of industrialization, represents joint investment by
IVECO and Nikola and involves a projected 160 suppliers in the
process from start to finish. The production line is currently
anticipated to be capable of manufacturing approximately 1,000
units per shift per year and is expected to undergo progressive
ramp-up in the following years. The site is expected to operate
according to the principles of the World Class Manufacturing
programme, with the goal of achieving zero waste, zero accidents,
zero failures and zero stock, confirmed by its key characteristics
which include fully digital shopfloor management designed to
guarantee 100% traceability and paperless operations.
"This new facility is beautiful, and we are grateful to the
IVECO and Nikola teams for their collaboration and perseverance to
bring it to life," said Nikola CEO Mark
Russell. "This is yet another important milestone for
Nikola as we execute on our strategy and vision to be a global
leader in zero-emissions transportation solutions."
Designed and projected as a safe, reliable and high-performance,
zero-emission transport solution, the Nikola Tre is driving change
for the sector. Based on the IVECO S-WAY truck platform with an
electric axle co-designed and produced by FPT Industrial, it
features Nikola's advanced electric and fuel cell technology, along
with key components provided by Bosch. Together, the teams have
designed a modular platform capable of fuel cell as well as battery
propulsion technology. Launching the battery technology first will
drive the maturity of the underlying platform before adding the
fuel cell as a range-extension technology.
CNH Industrial N.V. (NYSE: CNHI /
MI: CNHI) is a global leader in the capital goods sector with
established industrial experience, a wide range of products and a
worldwide presence. Each of the individual brands belonging to the
Company is a major international force in its specific industrial
sector: Case IH, New Holland Agriculture and Steyr for tractors and
agricultural machinery; Case and New Holland Construction for earth
moving equipment; Iveco for commercial vehicles; Iveco Bus
and Heuliez Bus for buses and coaches; Iveco Astra for quarry and
construction vehicles; Magirus for firefighting vehicles; Iveco
Defence Vehicles for defence and civil protection; and FPT
Industrial for engines and transmissions. More information
can be found on the corporate website:
www.cnhindustrial.com
Nikola Corporation (NASDAQ: NKLA) is
globally transforming the transportation industry. As a designer
and manufacturer of zero-emission battery-electric and
hydrogen-electric vehicles, electric vehicle drivetrains, vehicle
components, energy storage systems, and hydrogen station
infrastructure, Nikola is driven to revolutionize the economic and
environmental impact of commerce as we know it today. Founded in
2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information,
visit www.nikolamotor.com or Twitter
@nikolamotor.
FORWARD LOOKING STATEMENTS
Certain
statements included in this press release that are not historical
facts are forward-looking statements for purposes of the safe
harbor provisions under the Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally are accompanied
by words such as "believe," "may," "will," "estimate," "continue,"
"anticipate," "intend," "expect," "should," "would," "plan,"
"predict," "potential," "seem," "seek," "future," "outlook," and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding the potential benefits of the joint-venture
relationship between Nikola and CNHI/IVECO; the ability to hit the
expected delivery timelines for the BEV and FCEV vehicles; the
manufacturing capabilities and standards of the new joint-venture
manufacturing facility; the joint-venture's ability to assemble
fuel-cell power modules at the new manufacturing facility; the
expected benefits from integrating the S-Way truck platform with
electric vehicle technology; expectations regarding its business,
business model and strategy; the company's expectations for its
trucks and market acceptance of electric trucks, both BEV and FCEV;
and market opportunity. These statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of Nikola's management and are not
predictions of actual performance. Forward-looking statements are
subject to a number of risks and uncertainties that could cause
actual results to differ materially from the forward-looking
statements, including but not limited to, design and manufacturing
changes and delays; failure to realize the anticipated benefits of
the definitive agreements; general economic, financial, legal,
regulatory, political and business conditions and changes in
domestic and foreign markets; the potential effects of COVID-19;
the outcome of legal, regulatory and judicial proceedings to which
Nikola is, or may become a party; demand for and customer
acceptance of Nikola's trucks; risks associated with development
and testing of fuel-cell power modules and hydrogen storage
systems; risks related to the rollout of Nikola's business and the
timing of expected business milestones; the effects of competition
on Nikola's future business; the availability of capital; risks
associated with changes in accounting treatment or accounting
standards; and the other risks detailed from time to time in
Nikola's reports filed with the Securities and Exchange Commission,
including its quarterly report on Form 10-Q for the quarter ended
June 30, 2021 and other documents
Nikola files with the SEC. If any of these risks materialize or our
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. These
forward-looking statements speak only as of the date hereof and
Nikola specifically disclaims any obligation to update these
forward-looking statements.
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SOURCE Nikola Corporation