Benzinga | Jan 20, 2022 08:17AM EST

Nikola And Corcentric Fleet Funding Solutions Sign Agreement To Facilitate Zero-Emission Vehicle Sales Financing

Nikola Corporation (NASDAQ:NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, and Corcentric Fleet Funding Solutions, a leading provider of leasing and financing solutions, today announced a signed agreement to facilitate sales of Class 8 Nikola Tre battery-electric vehicles (BEVs) and Nikola Tre hydrogen fuel cell electric vehicles (FCEVs). Pursuant to the agreement, Corcentric will purchase vehicles and related assets (e.g., charging assets) directly from Nikola to offer Nikola customers a bundled lease that provides Nikola trucks and related equipment, as well as fuel and maintenance, in a single agreement.



"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 Chief Financial Officer, Kim Brady. "The agreement will provide Corcentric a launching point to expand its offerings into the electric vehicle space. Together we expect to provide funding resources, multiple options to tailor leases to customer needs, and best-in-class customer care for fleet customers and owner/operators."

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

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