IVECO and Nikola inaugurate joint-venture manufacturing facility for electric heavy-duty trucks in Ulm, Germany
September 15 2021 - 7:00AM
The partnership between the global commercial
vehicles manufacturer and the US-based group specializing in
zero-emission Class 8 heavy-duty trucks and related energy
solutions is about to begin its manufacturing journey in Ulm,
Germany.
Ulm, September 15, 2021
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.
Sign up for corporate news alerts from
the CNH Industrial Newsroom:
bit.ly/media-cnhindustrial-subscribe
Media
contacts:
Francesco PolsinelliCorporate Communications
Manager, EuropeCNH IndustrialTel.: +39 335
1776091
Email:
mediarelations@cnhind.comwww.cnhindustrial.com
Nicole RoseNikola CorporationTel.: +1
480-660-6893nicole.rose@nikolamotor.com www.nikolamotor.com Colleen
RobarNikola CorporationTel.: +1 313-207-5960crobar@robarpr.com
www.nikolamotor.com
- 20210915_PR_CNH_Industrial_IVECO_NIKOLA_Ulm_Inauguration
- CNH INDUSTRIAL N.V.
- CNH INDUSTRIAL N.V.
- CNH INDUSTRIAL N.V.
CNH Industrial NV (NYSE:CNHI)
Historical Stock Chart
From Aug 2024 to Sep 2024
CNH Industrial NV (NYSE:CNHI)
Historical Stock Chart
From Sep 2023 to Sep 2024