WABCO Holdings Inc. is investing $10 million for a 1% stake in hydrogen-electric vehicle maker Nikola Motor Co.
In addition to the strategic investment, WABCO and Nikola said they signed a separate agreement to accelerate the development of safety technologies specifically designed for electrified commercial vehicles, including electronic braking systems (EBS), as well as traction and stability control technologies.
“As vehicles become increasingly autonomous, electric and connected, WABCO continues to be at the forefront of breakthrough technology innovation,” said Jacques Esculier, WABCO’s chairman and CEO, in a statement.
“We are excited to invest in Nikola to help the industry realize our joint vision of electrified and autonomous trucks, buses, trailers and off-highway vehicles,” he added. “WABCO’s technologies, notably braking, traction and stability control systems, continue to advance the transportation industry.”
Nikola said it plans to begin testing its zero emission trucks with commercial vehicle fleets in late 2018 and launch full production in 2021.
“WABCO is a vital business partner to enable autonomous driving, electronic braking, and stability control for trucks and trailers,” noted Trevor Milton, Nikola’s founder and CEO. “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.”