Wabco Invests $10 Million in Nikola Motor, Looks to Advance Safety for EV
Wabco Holdings Inc, the global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it has made a $10 million (Rs 63 crore) strategic investment in Nikola Motor Company, a leader in the design and manufacturing of hydrogen-electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains headquartered in Salt Lake City, Utah (USA).
The transaction reveals Wabco’s commitment to advance the development of electric and highly automated commercial vehicles in North America and around the world. In addition to the strategic investment,Wabco and Nikola signed an agreement to accelerate the development of industry-leading safety technologies specifically designed for electric commercial vehicles, including electronic braking systems (EBS), as well as traction and stability control technologies.
“As vehicles become increasingly autonomous, electric and connected, Wabco continues to be at the forefront of breakthrough technology innovation,” said Jacques Esculier, Wabco chairman and CEO. “We are excited to invest in Nikola Motor Company to help the industry realise our joint vision of electrified and autonomous trucks, buses, trailers and off-highway vehicles. Wabco’s technologies, notably industry-leading braking, traction and stability control systems, continue to advance the transportation industry.”
“Wabco continues to stay at the vanguard of technology and innovation. Here at Nikola, we are driving a paradigm shift in the transportation industry by creating the most advanced semi-truck ever built. Wabco is a vital business partner to enable autonomous driving, electronic braking, and stability control for trucks and trailers,” said Trevor Milton, Nikola founder and CEO. “Wabco is recognised as a global leader in safety and efficiency technologies for next-generation commercial vehicles. 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.
- WABCO Shareholders Approve ZF Friedrichshafen Acquisition 2019-07-02
- Changchun WABCO Vehicle Control System Co., Ltd. Starts Operation 2019-03-01
- WABCO Signs Deal with Hyundai to Supply Advanced Techs for New Medium Trucks 2018-11-12
- Wabco Announces JV in China with FAW Jiefang for CV Safety Products 2018-09-25
- IAA 2018: WABCO to Display Industry's First Electric Trailer Prototype 2018-09-17
- Wabco Launches First Customer Care Center in North America 2018-08-03
- WABCO Signs First Deal to Export Power Steering Syetem to India Tata Motors 2018-07-16
- WABCO Achieves a New annual Record for Customer Awards and Industry Recognition 2018-06-15
- Sinotruk Extends Cooperation Agreement with WABCO on ADAS, AMT, EBS, ECAS Tech 2018-04-12
- Wabco Stood Out among Other Suppliers to Win Two Awards from Sinotruk 2018-03-15
Submit Your Requirements, We Are Always At Your Service.
- BYD Starts Operating Its Battery Factory in Brazil
- Kenworth Produces Last Severe-Service K500 Cabover
- Dongfeng Starts Construction on Its New Factory in Shiyan
- LNG Truck Sales Expected to Reach 113 Thousand Units by End of 2020
- ZOOMLION Listed in China’s 500 Most Valuable Brands for 17 Consecutive Years
- ZOOMLION’s 38m Truck Mounted Pump for India Rolls off Assembly Line
- Foton Signed a Strategic Cooperation Framework Agreement with Weichai
- Foton's Brand Value Reached 168.592 Billion RMB
- JAC and VW Cooperation Process
- Hyundai Targets 15% of European Hydrogen Truck Market by 2030
- Chinese Heavy Truck Makers Set Higher Sales Targets for 2020
- JAC Truck Achieves 23,000 Units Sales in July, a 40.8% YoY Growth
- China’s Tractor Sales Saw Surging Growth in July
- Foton's July Truck Sales Seen Surging Growth
- China’s Heavy Truck Sales Hit New High in July
- Foton Overseas Sales Grow Against the Trend in H1, 2020
- China's Pickup Truck Output And Sales Went Up in June
- China’s Medium-size Trucks Sales Totalled 13,000 Units, Up 36.8% Year-on-Year
- Hongyan Tops the Dumper Sales List in June
- JAC Light Duty Truck Sales Exceeds 100 Thousands Units with 6% YoY Growth in H1
