Nikola and Corcentric Ink reach agreement to boost financing for sales of zero-emission vehicles

(RTTNews) – Nikola Corp. (NKLA), a maker of battery electric heavy-duty vehicles, and Corcentric Fleet Funding Solutions, a provider of leasing and financing solutions, announced on Thursday that they have signed an agreement to facilitate sales of the battery electric vehicles or BEVs. Class 8 Nikola Tre and Nikola Tre Hydrogen Fuel Cell Electric Vehicles, or FCEVs, to help fund sales of zero-emission vehicles.

Under the terms of the agreement, Corcentric will purchase vehicles and related assets directly from Nikola to offer Nikola customers a bundled lease agreement that provides Nikola trucks and related equipment, as well as fuel and maintenance. , in a single agreement. The new partnership should allow Nikola to reach more customers by offering solutions to those who otherwise might not have access to financing options.

Nikola’s Chief Financial Officer, Kim Brady, said, “The agreement will provide Corcentric with a launch point to expand its offerings in the electric vehicle space. Together, we plan to provide financing resources, multiple options to tailor leases to customer needs, and best-in-class customer service for fleet customers and owner/operators. »

Initial deliveries of the Nikola Tre BEVs began in late 2021, while deliveries of the Nikola Tre FCEV are scheduled for 2023.

Corcentric has been financing truck fleets since 1996, with over 20,000 assets financed over the past 10 years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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