Metallica's European tour will feature big rigs powered by batteries and hydrogen fuel cells, supplied by Iveco, as part of the band's effort to reduce carbon emissions. The trucks will haul the band's gear across nine major European cities, with some guitars and drums being transported in hydrogen fuel-cell trucks. Iveco will also provide electric and natural gas trucks, as well as EV minibuses for concert shuttles, to further reduce CO2 emissions. Metallica's commitment to environmental sustainability includes supporting "Metallica scholars" in the renewables sector, demonstrating the band's genuine intent to lower its carbon footprint.
Iveco Group is set to acquire full ownership of its joint venture with US start-up Nikola, which develops battery electric and fuel cell heavy-duty trucks. The deal will have a €44m ($48m) one-off impact on Iveco's Q1 income statement, which it expects to absorb through cash flow generation without changing its cash flow target for this year. As part of the agreement, Iveco will focus on Europe for the further development and commercialisation of its own battery electric and fuel cell electric trucks, while Nikola will concentrate its operations in North America.
Italian truckmaker Iveco is set to acquire full ownership of its joint venture with US start-up Nikola, which develops battery electric and fuel cell heavy-duty trucks. The deal will have a €44m ($48m) negative impact on Iveco's Q1, but the company expects to absorb it through cash flow generation without changing its cash flow target for this year. As part of the agreement, Iveco will focus on Europe for the further development and commercialisation of its own battery electric and fuel cell electric trucks, while Nikola will concentrate its operations in North America. The two companies will continue to share and develop certain common technologies.
