MW GP644 MicroS ZG 20180906154215 1 captis executive search management consulting leadership board services

Nikola enters financing pact with Mitsubishi's ENGS Commercial to facilitate EV sales

MW GP644 MicroS ZG 20180906154215 1 captis executive search management consulting leadership board services

Nikola Corp.
NKLA,
+2.87%

announced Tuesday a financing agreement with Mitsubishi HC Capital Group’s ENGS Commercial Finance Co. which will facilitate sales of Nikola’s Tre battery-electric and hydrogen fuel-cell electric vehicles. Nikola’s stock slipped 0.1% in premarket trading, after closing Monday at a 2 1/2-month high. As part of the agreement, ENGS will offer Nikola customers financing to buy Nikola vehicles, chargers and infrastructure requirements. ENGS will also offer Nikola’s dealers financing for floorplans and parts and service, as well as for other 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. Nikola’s stock has gained 5.4% year to date through Monday, while the S&P 500
SPX,
+0.71%

has slipped 4.0%.

This is not a CAPTIS article. Originally, it was published here.