Benzinga | Jan 20, 2022 12:01PM EST

Nikola Inks Agreement With Corcentric To Facilitate Vehicle Sales Financing

* Nikola Corp (NASDAQ:NKLA) has signed an agreement with leasing and financing solutions provider Corcentric Fleet Funding Solutions to facilitate sales of Class 8 Nikola Tre battery-electric vehicles (BEVs) and Nikola Tre hydrogen fuel cell electric vehicles (FCEVs).

* Corcentric will purchase vehicles and related assets directly from Nikola to offer customers a bundled lease that provides trucks and related equipment, fuel, and maintenance, in a single agreement.

* Initial deliveries of the Nikola Tre BEVs began in late 2021. The Nikola Tre FCEV deliveries are expected in 2023.

* "We believe this partnership will allow Nikola to reach more customers by offering solutions to those who otherwise may not have access to financing options," said Nikola CFO Kim Brady.

* Price Action: NKLA shares are trading higher by 1.16% at $8.73 on the last check Thursday.