Bosch, Hanwha invested $230 million in Nikola

September 06, 2019 // By Christoph Hammerschmidt
Bosch, Hanwha invested $230 million in Nikola
In its prior funding rounds Hydrogen-electric truck technology company Nikola Corp. has secured a considerable amount from strategic investors Bosch and Hanwha: As Nikola now announced, these two investors alone raised a combined total of $230 million, each contributing more than $100 million.

Earlier this week, Nikola announced the lead investor, CNH Industrial , as part of its $1 billion Series D fundraising plan.  The European company invested $250 million in the innovative Phoenix hydrogen-electric truck maker.

Bosch has been an instrumental partner for Nikola in the development of its state-of-the-art heavy-duty vehicle fuel cell system and battery technology.  Bosch’s investment confirms its commitment to the development of hydrogen technology and hydrogen infrastructure.

Hanwha is regarded as a world leader in renewable energy and solar panel manufacturing and is partnering with Nikola to assist in obtaining clean energy for its hydrogen fueling network.  Hanwha is Nikola’s exclusive solar panel provider (QCELL), generating the clean electricity that is critical to the production of renewable hydrogen.

Nikola CEO Trevor Milton said that Bosch can help Nikola to commercialize very complex vehicle components while Hanwha can provide clean energy at hydrogen locations where possible. 

With Bosch’s and Hanwha’s investment, Nikola is driving fuel-cell technology and a hydrogen fueling ecosystem that meets or beats the economics of fossil fuels.  Nikola is in the process of building a renewable hydrogen ecosystem in the US and Europe, targeting 100% being produced from renewable sources. The Phoenix, Ariz.based company has built and is operating the largest hydrogen fueling station in the United States, able to dispense and store over 1,000 kg of hydrogen a day. Future Nikola stations will produce and dispense 8,000 kg or more of hydrogen per day and will be the largest stations in the world.

Nikola Corporation designs and manufactures hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen stations.

Related articles:

Nikola invests in establishment of advanced fuel cell lab

Nikola to complement fuel cell-powered range of semitrucks with BEV versions

French-Japanese axis for e-powertrains launched

Nikola Motors, Bosch jointly develop electric powertrain for heavy truck

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