Citing natural gas’ role in helping reduce truck emissions when used as a fuel, Marx said CNH believes that fuel-cell and battery-electric technologies such as those underpinning Nikola “will deliver the ultimate goal of zero-emission trucking.”Separately this week, CNH said it intends to spin IVECO off as a separate unit. It also will provide key electric truck components including e-axles, power inverters and hydrogen fuel storage systems. The company has shown three Class 8 truck models. Nikola’s zero-emission heavy duty trucks, powered by it own hydrogen fuel cell and battery technology, will be the first-to-production, the partners say. The “Two” model is likely to be the first to hit the road, Milton said.Nikola’s $1 billion goal for the new financing round isn’t overly ambitious, he said. It is exciting to see IVECO taking the lead in providing zero-emission solutions in Europe through its partnership with Nikola. Nikola hired Mark Russell as president earlier this year – shortly after he retired as Worthington’s president and chief operating officer.“Having FPT’s natural gas network to leverage for hydrogen production will be interesting as well,” Lindström said.CNH, originally CNH Global, formed in 1999 with the merger of the Case and New Holland construction and agricultural equipment companies. CNH Industrial NV CNHI, -0.94% Tuesday said it is investing $250 million in Nikola Corp.'s series D funding, comprising $100 million in cash and $150 million in services. That will not affect the Nikola deal or its ongoing relationship with IVECO, Milton told Trucks.com.But the European market remains essential. Italy’s Fiat Industrial controlled both companies.Nikola said the new round would boost its total valuation to $4 billion. Reporting by Giulio Piovaccari; Editing by Kirsten DonovanUnder their agreement, CNH took a $250 million stake in Nikola - comprised of $100 million in cash and $150 million in services, giving the U.S. company scale and manufacturing capacity for its technologies.The truck will be produced in full electric and hydrogen fuel cell models, with a range of up to 600 miles (966 km). With CNH Industrial’s investment and partnership, we can now bring zero-emission trucks to Europe. And it will offer its operating software and vehicle-to-vehicle communications protocols.The company said in April that it intended to raise $1.5 billion. CNH will lead Nikola’s $1 billion investment drive. CNH’s investment of $100 million cash and $150 million of in-kind services will give it a 6.25 percent stake in the company.The joint venture will apply FPT’s expertise in natural gas fueling to building Nikola’s hydrogen fueling infrastructure in Europe.IVECO is one the world’s largest truck manufacturers. The Nikola One sleeper cab and Nikola Two day cab are aimed at the North American market. CNH Industrial has agreed to lead Nikola Corporation’s Series D investment round with US$250 million (A$369 million) aimed at accelerating the building of electric trucks.
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