Nikola aims at H2 cooperation with Hyundai

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Nikola Motor Company, U.S. manufacturer of battery electric and hydrogen-powered commercial vehicles, in the future wants to work with Hyundai to further develop its fuel cell technology.

In an interview with the South Korean newspaper Chosun Ilbo, Trevor Milton, founder and CEO of the Nikola Motor Company, expressed his interest in entering into a cooperation with Hyundai in the hydrogen segment. In this regard he had already made two offers to the South Korean car manufacturer, but Hyundai has so far rejected both.
Nikola company spokeswoman Nicole Rose told the news agency Reuters that Nikola is still interested in a cooperation. Hyundai made no comment on this.

Although Hyundai would consider any official offer, Nikola may be considered a competitor in the commercial vehicle segment and cooperation may therefore be unattractive, said Kim Joon-sung, an analyst at Meritz Securities in Seoul.
Hyundai is currently cooperating with Audi on hydrogen technology.

While Hyundai already produces its heavy truck XCIENT Fuel Cell in series and recently delivered the first ten units to Switzerland, Nikola plans to start production of its battery electric trucks at the Iveco plant in Ulm in 2021 and to start production of its fuel cell trucks in 2023.