Iveco Group Takes Over Joint Venture with Nikola Corporation
Iveco Group and Nikola Corporation are entering a new phase of their partnership, with Iveco Group assuming full ownership of the joint venture in Ulm, Germany. Each company will focus on heavy-duty transport in their respective regions, with Iveco Group concentrating on Europe and Nikola focusing on North America. Iveco Group will cover the capital outlay for this new phase of collaboration through available liquidity, acquiring the joint venture partially in cash and partially in Nikola shares. The provisions are subject to regulatory approvals and preparation of definitive agreements.