NEW DELHI (dpa-AFX) - Nikola Corporation (NKLA) announced agreements with the Bosch Group of companies for fuel-cell manufacturing. Under the agreement, Bosch will supply both fully assembled fuel-cell power modules as well as major components to Nikola, including the fuel-cell stack, for Nikola to assemble at its manufacturing facility in Coolidge.
The fuel-cell power modules under the agreement are expected to launch in 2023, with the first application being the Class 8 regional-haul Nikola Tre fuel-cell electric vehicles. The Nikola Tre FCEV will also be launched in the EU.
Shares of Nikola were up 5% in pre-market trade on Thursday.
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