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Wabco Invests $10 Million in Nikola Motor Company
Wabco Holdings has announced a $10 million strategic investment in Nikola Motor Company, manufacturer of the upcoming Nikola One and Nikola Two hydrogen-electric Class 8 trucks.
In addition to the investment, which gives the Belgium-based Wabco a 1% equity stake in Nikola, the companies signed an agreement to accelerate the development of safety technologies specifically designed for electric commercial vehicles. These technologies include electronic braking systems as well as traction and stability control technologies.
“We are excited to invest in Nikola Motor Company to help the industry realize our joint vision of electrified and autonomous trucks, buses, trailers and off-highway vehicles,” said Jacques Esculier, Wabco chairman and CEO. “Wabco’s technologies, notably industry-leading braking, traction and stability control systems, continue to advance the transportation industry.”
Nikola’s first vehicle, the Nikola One, was unveiled in late 2016 and is expected to go into production by 2021. The company will begin testing the truck in fleets in 2018.
Nikola will offer Nikola One and Two, daycab and sleeper versions, respectively, that promise to generate1,000 horsepower and 2,000 lb.-ft. of torque. The vehicle features a hydrogen fuel cell, electric motor hybrid setup that allows it to travel 800 to 1,200 miles on a single fill-up while operating free of emissions.
“Here at Nikola, we are driving a paradigm shift in the transportation industry by creating the most advanced semi-truck ever built," said Trevor Milton, Nikola founder and CEO. "Wabco is a vital business partner to enable autonomous driving, electronic braking, and stability control for trucks and trailers. We have added a world-class supplier to the Nikola truck family and are looking forward to our collaboration to bring Nikola’s zero emission trucks to market.”