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Iveco is exiting the joint venture it set up with Nikola in Europe. Prior to this was a partnership since 2019 that led to the development of the battery-electric Tre BEV and the hydrogen-powered Tre FCEV. Iveco is taking over 100 percent of the European business of Nikola, and is paying for it with...
Hyzon Motors was able to close the first quarter with a low stated loss of minus 0.03 USD per share. At the end of the quarter, cash and cash equivalents amounted to about 407 million USD.
Nikola Motors needs to be understood/categorized as a start-up in the process of implementing its business plan. The construction of its factory in Coolidge, Arizona is underway, and the first battery-electric trucks (BEV trucks) are already with customers. This year should see 300 to 500 of these, along with sufficient capacity for 2,400, which should reach 20,000 by 2023. In Ulm, Baden-Württemberg, the number of units produced by partner Iveco is to increase from 2,000 to 10,000.
