Iveco Group, Nikola reshuffle Joint Venture on electric, hybrid trucks

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Iveco Group will focus on Europe for the further development and commercialisation of its own battery electric and fuel cell electric trucks, while Nikola will concentrate its operations in North America, they said in a statement.

Iveco will invest $35 million and buy 20 million Nikola shares, using its available liquidity.

The Italian truckmaker said that, despite the negative cash impact generated by the deal, it expected to absorb it with cash flow generation so there would be no impact on its cash flow target for this year.