Nikola Partners With Commercial Finance Company ENGS To Facilitate Semi-Truck Sales

Nikola Corp NKLA has signed an agreement with ENGS Commercial Finance Co. to facilitate sales of Class 8 Nikola Tre battery-electric vehicles (BEVs) and Nikola Tre hydrogen fuel-cell electric vehicles (FCEVs).
ENGS, a Mitsubishi HC Capital Group member, will offer customer finance solutions to purchase Nikola vehicles, charging assets, and infrastructure requirements to provide a broad range of financial solutions to Nikola customers.
ENGS will also help Nikola, and its dealers facilitate sales by offering floorplan financing solutions to the dealers, parts and service financing, and other related capital requirements.
Nikola began production of Tre BEVs last week at Coolidge, Arizona manufacturing facility. The company expects Nikola Tre FCEV deliveries in 2023.
Price Action: NKLA shares are trading higher by 8.56% at $11.28 on the last check Tuesday.