Iveco takes full control of Nikola Iveco Europe

The Nikola Tre fuel cell electric truck. (Photo: Nikola)

Iveco Group N.V. said its subsidiary Iveco S.p.A. has acquired the full and sole ownership of the German company resulting from the former joint venture Nikola Iveco Europe, which will henceforth be named as EVCO (Electric Vehicles COmpany). The action followed the finalization of the definitive agreements with Nikola Corp. as per the terms sheet described in May.

Iveco said the successful completion of this already-announced step reconfirmed the steady commitment of the company in playing a leading role in the zero-emission heavy duty transport segment.