Nikola, Bosch tie up to build fuel-cell power modules

Reuters2021-09-02

Sept 2 (Reuters) - Nikola Corp said on Thursday it had signed a deal with Bosch Group, that would allow the electric-vehicle startup to build Bosch fuel-cell power modules at its Coolidge, Arizona facility.

Nikola expects to launch the fuel-cell power modules in 2023. The company's shares were up over 5% at $11.31 in premarket trading.

As per the deal, Bosch will supply fully assembled fuel-cell power modules and other major components to Nikola, including the fuel-cell stack. Nikola will then assemble them at its manufacturing unit in Coolidge.

A fuel cell power module is a system that generates electricity from hydrogen in vehicles and is essentially used in commercial vehicles.

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