Nikola has recently announced an agreement with ENGS Commercial Finance, a member of Mitsubishi HC Capital Group, specializing in technology-enabled financing solutions to sellers and buyers of commercial equipment. The agreement is aimed at supporting customers in their transition to battery-electric (BEV) or fuel-cell (FCEV) trucks. As a matter of fact, Nikola has started producing its Nikola Tre BEV trucks at Coolidge manufacturing facility in Arizona in March 2022, while the Nikola Tre FCEV deliveries are expected in 2023.
What will Nikola and ENGS do under the agreement
Working directly through the Nikola dealer network, ENGS will offer customer finance solutions for the purchase of Nikola vehicles, charging assets and infrastructure requirements to offer a broad range of financial solutions to Nikola customers. The agreement furthers Nikola’s commitment to secure partnerships with well-established transportation finance specialists to offer customized financing solutions for Nikola dealers and customers. The financing company 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.
«Our partnership with ENGS will strengthen our ability to help even more fleets transition to zero-emissions by offering a variety of innovative solutions for those customers that require alternative financing options», said Nikola Chief Financial Officer Kim Brady.
«The best customer finance products»
«We are very excited to partner with Nikola. We share many of the same goals on sustainability and technology», said Jim Freund, ENGS Executive Vice President & Chief Marketing Officer. «We look forward to working closely with Nikola and their dealer network to provide the best customer finance products in the market to help promote the sale of Nikola trucks».
Tom Canepa, ENGS VP Sustainable Development Solutions, added, «Working with companies that promote Sustainable Development Goals initiatives is very important to us, and we are proud to partner with Nikola and its dealers».