# Iveco Group to assume full ownership of Nikola joint venture in Ulm

Iveco Group will take full ownership of the joint venture with Nikola Corporation in Ulm, Germany, paying USD 35 million in cash and 20 million Nikola shares. Nikola will focus on North America and Iveco Group on Europe for zero-emission trucks.

- Type: Acquisition
- Announced: 2023-05-09
- Where: Ulm, Germany, Germany
- Value: $35.0M
- Status: announced
- Products: battery electric trucks, fuel cell electric trucks
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Iveco Group N.V.](https://endata.com/companies/15363.md) (acquirer)
- [Nikola](https://endata.com/companies/43688.md) (target)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/iveco-group-and-nikola-corporation-enter-a-new-partnership-phase-iveco-group-to-assume-ownership-of-jv-301818999.html), 2023-05-09: "Iveco Group will assume full ownership of the joint venture in Ulm, Germany."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.