BRUSSELS, Belgium — Wabco Holdings Inc., the global supplier of safety technologies and services, today announced that it has made a $10 million investment in Nikola Motor Co., 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.
“The transaction further demonstrates Wabco’s commitment to advance the development of electric and highly automated commercial vehicles in North America and around the globe,” stated a Wabco news release.
In addition to the 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), 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 Co. to help the industry realize 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 recognized 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.
Founded nearly 150 years ago, Wabco continues to provide innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics.
Wabco also uniquely connects trucks, trailers, cargo, drivers, business partners and fleet operators through advanced fleet management systems and mobile solutions.
Wabco reported sales of $2.8 billion in 2016. Headquartered in Brussels, Belgium, Wabco has 13,000 employees in 40 countries. For more information, visit www.wabco-auto.com.
Nikola Motor Co. designs and manufactures electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. The company is privately-held. For more information, visit www.nikolamotor.com or Twitter: @nikolamotor.