Phoenix-based Nikola extended its German connection on Friday by announcing a planned joint venture with E.ON, a European utilities company.
Nikola Corp. will work with Essen, Germany-based E.ON on a partnership aimed at decarbonizing heavy-duty trucking through the use of vehicles powered by hydrogen fuel. Nikola is currently manufacturing battery electric vehicles and is developing hydrogen fuel cell vehicles for future production. The joint venture with E.ON is expected to be finalized by the end of the year and will feature the two companies developing projects together. Nikola and E.ON have signed a term sheet and are working toward a definitive agreement on the partnership.
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