WABCO Holdings Inc. announced that it has made a $10 million strategic investment in Nikola Motor Co., a maker of hydrogen-electric vehicles, vehicle components, energy storage systems and electric vehicle drivetrains. In addition to the strategic investment, WABCO and Nikola signed an agreement to accelerate the development of safety technologies specifically designed for electric commercial vehicles, including electronic braking systems (EBS) and 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’s chairman and chief executive officer.
“WABCO is a vital business partner to enable autonomous driving, electronic braking, and stability control for trucks and trailers,” said Trevor Milton, Nikola’s founder and chief executive officer. “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.”
Nikola plans to begin testing its zero emission trucks with commercial vehicle fleets in late 2018 and launch full production in 2021.