Nikola pivots to become a European fuel cell powerhouse

Now backed by a global powertrain supplier, renewable energy specialist and European truck maker Nikola is ready to pounce. By Freddie Holmes

In the space of just two days, fuel cell truck start-up Nikola announced investments from a handful of big name players to the tune of nearly US$500m.

The cash injection came in two rounds: one from Bosch and renewable energy specialist Hanwha, totalling US$230m, and another from CNH Industrial for US$250m a couple of days earlier. The Arizona start-up now flaunts a valuation of more than US$3bn.

It continues a healthy couple of months for Nikola, which…