Nikola [NASDAQ: NKLA] and IVECO Introduces German Plant to the Public

Nikola Corporation [NASDAQ: NKLA] and IVECO has introduced the new German Plant to the public after which the new chapter in IVECO and Nikola Corporation’s sustainable transport story has started today. The new plant will especially focus on the Nikola Tre electric heavy-duty trucks. It has been revealed by the firms that the production at the new facility will commence by the end of this year.

IVECO is the commercial vehicles brand of CNH Industrial (NYSE: CNHI). As per the firms, the first Nikola Tre models manufactured here will be shipped to Prime customers in the US in 2022. In addition to the battery-electric vehicle (BEV) production model, the next evolution of this modular heavy-duty platform was also unveiled to the public in the form of the fuel cell electric vehicle (FCEV) prototype of the Nikola Tre.

Furthermore, the event in the unveiling of the new facility was organized in accordance with the COVID-19 standards. More than 100 national and international stakeholders and media personnel were allowed to the event. The Ulm manufacturing facility covering 50,000 square meters includes a final assembly process that has been created for “electric-born” vehicles.

The new site, and the first phase of industrialization, signifies mutual financing by IVECO and Nikola. It covers and anticipates 160 suppliers in the process from start to finish. The production line is currently expected to be capable of manufacturing nearly 1,000 units per shift per year. Moreover, is likely to undergo a steady increase in the following years.