Nikola, Proterra enter into battery supply deal for semi-trucks

Proterra

18/01/2022 13:39

Jan 18 (Reuters) - Electric truck maker Nikola Corp  NKLA.O 
said on Tuesday it has entered into a deal with Proterra Inc
 PTRA.O  for the long term supply of batteries for its
semi-trucks.
    Nikola's trucks fitted with Proterra's batteries are
expected to be produced in the fourth quarter of 2022 with
prototypes systems being delivered to the truck maker in the
second quarter, the company said.
    Earlier in October 2021, Nikola said that it had entered
into a long-term supply agreement with LG Energy Solution
 373220.KS  for supply of batteries from 2022 through 2029.
    "With the growing demand for the Nikola Tre BEV and FCEV, we
have actively pursued battery supply through a dual source
strategy," Nikola's Chief Executive Officer Mark Russell said in
a statement on Tuesday.  urn:newsml:reuters.com:*:nPn7XYVCba
    Proterra, which makes batteries for commercial electric
vehicles, said in December that it would open a new battery
manufacturing factory in South Carolina as demand grows.
    Nikola in the recent past has entered into Letters of Intent
with logistics and trucking companies to sell hundreds of its
Tre battery electric trucks and fuel cell trucks.

 (Reporting by Akash Sriram in Bengaluru; Editing by Shailesh
Kuber)
 ((Akash.Sriram@thomsonreuters.com;
www.twitter.com/hoodieonveshti;))