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European company invests $250 million in Nikola

The NikolaOne semi-truck operates on hydrogen and electricity. The trucks may soon be built in Coolidge. / Nikola Corp. / Pinal Central

By Rofida Khairalla | Pinal Central

A European capital goods company announced Tuesday morning that it plans to invest $250 million in Nikola Motor Company.

The news means that Dutch company CNH Industrial NV will now have a significant stake in the start-up as the lead Series D investor.

Earlier this year, Nikola reported that it plans to raise $1 billion in the D round of investments. The funding round would grant new investors and business partners, including CNH Industrial, 25% ownership in Nikola.

The investment made by CNH Industrial is part of a heavy-duty truck partnership the company will be entering into with Nikola to energize the production of Nikola’s line of electric and hydrogen electric semi-trucks for both North America and Europe.

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