Hydrogen truck startup Nikola's valuation jumps to $3 billion with investment from CNH Industrial
Nikola Motors, an Arizona startup that wants to shake up the trucking world with zero-emission hydrogen and battery-powered semis, is making progress toward a $1 billion fundraising goal to get its technology on the road as CNH Industrial committed to a quarter of that amount. CNH, a European maker of heavy-duty work vehicles, is investing $250 million into a Series D round by Phoenix-based Nikola, which aims to start shipping its fuel-cell trucks and opening hydrogen-fuel stations to keep them powered up from 2022. It’s the biggest outside investment in Nikola to date, which previously raised at least $265 million and has an estimated pre-money valuation of $3 billion.
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