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Nikola, Proterra enter into battery supply deal for semi-trucks

Mark White by Mark White
January 18, 2022
in Logistics
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CNH’s truck unit Iveco presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with Nikola, at an event in Turin, Italy, December 2, 2019. REUTERS/Massimo Pinca

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Jan 18 (Reuters) – Electric truck maker Nikola Corp (NKLA.O) said on Tuesday it has entered into a deal with Proterra Inc (PTRA.O) for the long term supply of batteries for its semi-trucks.

Nikola’s trucks fitted with Proterra’s batteries are expected to be produced in the fourth quarter of 2022 with prototypes systems being delivered to the truck maker in the second quarter, the company said.

Earlier in October 2021, Nikola said that it had entered into a long-term supply agreement with LG Energy Solution (373220.KS) for supply of batteries from 2022 through 2029.

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“With the growing demand for the Nikola Tre BEV and FCEV, we have actively pursued battery supply through a dual source strategy,” Nikola’s Chief Executive Officer Mark Russell said in a statement on Tuesday.

Proterra, which makes batteries for commercial electric vehicles, said in December that it would open a new battery manufacturing factory in South Carolina as demand grows.

Nikola in the recent past has entered into Letters of Intent with logistics and trucking companies to sell hundreds of its Tre battery electric trucks and fuel cell trucks.

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Reporting by Akash Sriram in Bengaluru; Editing by Shailesh Kuber

Our Standards: The Thomson Reuters Trust Principles.

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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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