Wabco takes stake in electric truck brand

Automation supplier takes 1% stake in Nikola Motor Company

wabco nikola logos

We’ve been covering the development of Nikola Motor Company and its plans to make big in-roads in the electric truck market in coming years.

Now comes a big development with Wabco making a $10-million (USD) investment in the company.

Related: Nikola Two day cab variant unveiled

The investment gets Wabco just a 1% stake, however it could be a strong sign that future Nikola Motor Company trucks will come equipped with Wabco components.

Nikola plans to have zero-emission trucks on the roads in North America in late 2018, production is expected to start in 2021.

In announcing the deal, Wabco said it will…

“Accelerate the development of industry-leading safety technologies specifically designed for electric trucks.”

Jacques Esculier, Wabco chairman and CEO, tells us it’s exciting being involved with the EV start-up.

“As vehicles become increasingly autonomous, electric and connected, Wabco continues to be at the forefront of breakthrough technology innovation,”

“We are excited to invest in Nikola Motor Company 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.”

Trevor Milton, Nikola founder and CEO was also pleased with the deal.

“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.”

Related: Big jump in hybrid and electric trucks tipped

Stay up to date with the latest Nikola Motor Company News at heavyvehicles.com.au.

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