Nikola shares in red: Iveco and Nikola open electric truck production in Ulm | 15.09.21

The commercial vehicle manufacturer Iveco has opened a production hall for electrically powered trucks in Ulm.

Together with the US electric car start-up Nikola, the company would like to produce up to 3,000 trucks a year in the medium term, as Iveco boss Gerrit Marx said in Ulm on Wednesday.

Production of the electric trucks is scheduled to begin at the end of this year. Initially, however, the truck is an export product. Since it does not yet meet EU requirements due to its length and its turning circle, the trucks manufactured in Ulm will initially be exported to the USA. Iveco is delivering 25 of the electric trucks to the Port of Hamburg for a pilot project. In about a year, trucks that meet European standards should also be built in Ulm, as Marx said.

In addition to the electric truck, the two companies presented a truck powered by fuel cells. This should also be manufactured in Ulm from the end of 2023. It relies on the same basic structure as its electrical counterpart.

Transport Minister Winfried Hermann (Greens) welcomed the establishment of electric truck production in Ulm and emphasized that it was now up to politics to create the appropriate charging infrastructure for both electric and fuel cell vehicles.

The trucks are assembled in Ulm from numerous supplied parts. The start-up Nikola is contributing important components for the drive, Iveco is contributing to the vehicle cabin, among other things. The Ulm-based company Iveco Magirus is part of the Dutch-British industrial group CNH Industrial. The group has set up a joint venture with Tesla competitor Nikola to produce the alternatively powered trucks.

The Nikola share listed on NASDAQ gained 1.31 percent to 10.04 US dollars in early trading, but then quickly changed the sign. Most recently, the minus is 1.66 percent to 9.74 US dollars.


ULM (dpa-AFX)


Nikola shares red Iveco Nikola open electric truck production Ulm

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