![]() Fuel cell hydrogen trucks are expected to hit the road next year. EV startups, which have gone public with hopes of shaking up the auto industry, are now facing challenges as their market valuations have shrunk in recent months amid slowing demand, production challenges and as market leader Tesla has cut prices to stoke orders.ĭespite Nikola's troubles, battery electric trucks developed by the venture with Iveco, based in Ulm, Germany, are already circulating in the U.S., with orders being collected in Europe. The Italian truckmaker and Nikola had formed the joint venture in 2019 to help Iveco, then part of CNH Industrial and a latecomer to electrification, catch up with large European rivals such as Daimler Truck and Volvo. ![]() start-up Nikola as it said on Tuesday it was purchasing the full ownership of their joint venture which develops battery electric and fuel cell heavy-duty trucks. MILAN - Iveco Group is set to loosen ties with U.S. ![]()
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