PHOENIX, Sept. 15,
2023 /CNW/ -- Nikola Corporation (Nasdaq: NKLA),
a global leader in zero-emissions transportation and energy supply
and infrastructure solutions, via the HYLA brand, announced
today an expansion of its dealer network into Canada for its Class 8 truck sales and service
coverage with the addition of ITD Industries Inc., an industry
leading commercial trailer manufacturer and technology business
headquartered in Toronto, ON.
ITD is a North American leader in transportation equipment
manufacturing, boasting more than two decades of experience, more
than 20,000 trailers built and a growing network of customers from
across Canada and the U.S. ITD's
diversified products set industry standards for quality, innovation
and customer experience.
Canada is a premium market with
its supportive population, industry and government as it relates to
addressing the impacts of climate change and its ambitious plans to
transition towards hydrogen and cleaner fuels.
"Bringing ITD on board as our first Canadian dealer is an
exciting move for Nikola. Canada's
zero-emission vehicle friendly environment for Class 8 trucks,
fueled by attractive incentives and its ambitious carbon reduction
goals, makes it a strategic market for the future of
transportation," said Nikola
President and CEO Steve
Girsky. "What makes this partnership even more ideal is the
shared dedication to our customers. ITD's commitment to product
innovation and customer service aligns perfectly with our mission
to empower fleets and drive success as they transition to a more
"At the heart of ITD is a commitment to sustainability and
innovation. Our ability to now include Nikola's Class 8
zero-emission trucks in our growing product line-up is the perfect
complement to our investments in electric trailer technology and a
natural next step in our Company's ambition to bring promising
clean transportation solutions to the Canadian marketplace," said
ITD CEO Benny Di Franco.
ITD's Toronto-based premier
Nikola showroom and service operations will be integrated into its
manufacturing facility and features 55-foot ceilings and more than
78,000 square feet.
According to ITD's COO, Philip
Turi, "Canadian fleet operators are in critical need of
strategic partners to help accelerate their shift to a more
sustainable future. We are extremely excited to be leveraging our
brand, reputation and new partnership with Nikola to be that
accelerant here in Canada."
Nikola is anticipating significant growth in Canada with eligibility received for
the Incentives for Medium- and Heavy-Duty Zero-Emission
Vehicles (iMHZEV) Program. The iMHZEV program offers Canadian
organizations (for profit and non-profit), in all provinces,
territories and municipalities, up to $200,000 (CAD) in incentives towards the purchase
or lease of the Nikola hydrogen fuel cell electric truck and
up to $150,000 (CAD) in incentives
towards the purchase or lease of the Nikola battery-electric
Furthermore Nikola is eligible for the Clean BC Go Electric
Rebates in the province of British
Columbia with $150,000 (CAD)
in incentives towards the purchase or lease of both the Nikola
hydrogen fuel cell and battery-electric truck. This provincial
incentive is stackable with the iMHZEV federal incentive.
ITD will be promoting Nikola's zero-emission trucks across its
national sales channels and is a qualified dealer under the Federal
government's iMHZEV program. ITD will be holding a launch
event for industry and other interested stakeholders in the Fall of
2023 to share more about its partnership with Nikola.
ABOUT NIKOLA CORPORATION
mission is clear: pioneering solutions for a zero-emissions world.
As an integrated truck and energy company, Nikola is
transforming commercial transportation, with our Class 8 vehicles,
including battery-electric and hydrogen fuel cell electric trucks,
and our energy brand, HYLA, driving the advancement of the complete
hydrogen refueling ecosystem, covering supply, distribution and
Nikola headquarters is based in Phoenix, Arizona with a manufacturing facility
in Coolidge, Arizona.
Experience our journey to achieve your sustainability goals
at nikolamotor.com or engage with us on social media
via Facebook @nikolamotorcompany,
LinkedIn @nikolamotorcompany or
ABOUT ITD INDUSTRIES INC.
ITD is an industry leading
commercial trailer manufacturer and technology business. Our
Company's strength lies in our rich history of innovative product
development, the diversity and passion of our talented team, and
deep-rooted commitment to the success of our customers and the
communities they serve. Our strategic investments in smart and
electric trailer technology will help to power our customers shift
to a cleaner more sustainable future.
Out of our 200,000 square foot facility in Toronto, Ontario Canada, ITD manufactures a
diverse range of commercial vans, container chassis and specialty
trailers. ITD's dealer and service network ranges from coast to
coast. Experience our products and Company story at
www.itdtrailers.com, or engage with us on social media
via Facebook, Instagram, LinkedIn.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements
within the meaning of federal securities laws with respect to
Nikola Corporation (the "Company"), including statements relating
to: the Company's beliefs regarding the potential benefits of
adding ITD as a partner and dealer in the Canadian market; and the
benefits of the Canadian market for ZEV trucks related to its
incentives and carbon reduction goals. These forward-looking
statements generally are identified by words such as "believe,"
"project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," and similar expressions. Forward-looking
statements are predictions, projections, and other statements about
future events based on current expectations and assumptions and, as
a result, are subject to risks and uncertainties. Many factors
could cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to the factors, risks and uncertainties regarding the
Company's business described in the "Risk Factors" section of the
Company's quarterly report on Form 10-Q for the quarter ended
June 30, 2023 filed with the SEC, in
addition to the Company's subsequent filings with the SEC. These
filings identify and address other important risks and
uncertainties that could cause the Company's actual events and
results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and, except as
required by law, the Company assumes no obligation to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise.
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SOURCE Nikola Corporation