September 29, 2022

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NIKOLA AND ENGS Commercial FINANCE CO. Sign Arrangement TO Deliver Financing FOR ZERO-EMISSION SEMI-TRUCK Income

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PHOENIX, March 29, 2022 /PRNewswire/ — Nikola Corporation (Nasdaq: NKLA), a world leader in zero-emissions transportation and energy infrastructure answers, and ENGS Business Finance Co. (“ENGS”), a member of Mitsubishi HC Capital Team (“MHC”) and a current market top business finance business, now announced a signed settlement to facilitate sales of Class 8 Nikola Tre battery-electric powered automobiles (BEVs) and Nikola Tre hydrogen gas-cell electric powered autos (FCEVs).

ENGS Industrial Finance Co. logo

Operating immediately through the Nikola supplier network, ENGS will offer you purchaser finance solutions for the invest in of Nikola motor vehicles, charging assets and infrastructure needs to present a broad range of monetary answers to Nikola prospects. The arrangement furthers Nikola’s motivation to protected partnerships with nicely-founded transportation finance experts to offer you customized financing options for Nikola dealers and customers. ENGS will also assist Nikola and its sellers facilitate gross sales by providing floorplan financing options to the sellers, pieces and service financing and other linked money needs.

“Our partnership with ENGS will reinforce our ability to assist even more fleets changeover to zero-emissions by offering a range of innovative answers for people clients that demand option financing choices,” explained Nikola Main Fiscal Officer Kim Brady.

Start of manufacturing of the Tre BEVs began last week at Nikola’s Coolidge, Arizona production facility. The Nikola Tre FCEV deliveries are expected in 2023.

“ENGS is extremely fired up to companion with Nikola. We share a lot of of the exact aims on sustainability and technologies,” said Jim Freund, ENGS Executive Vice President & Chief Advertising Officer. “We seem forward to operating carefully with Nikola and their dealer community to provide the most effective purchaser finance solutions in the market place to assistance boost the sale of Nikola trucks.” Tom Canepa, ENGS VP Sustainable Advancement Options, included, “Performing with businesses that boost Sustainable Growth Objectives initiatives is extremely crucial to us, and we are proud to associate with Nikola and its dealers.”

ENGS is a technologies-enabled industrial finance company specializing in transportation, industrial and design products leasing and funding, and working funds and insurance coverage goods. With in excess of $1.6 billion in property less than management, ENGS is a person of the longest-tenured and major lenders in the transportation phase with around 70 years’ practical experience funding vans and trailers for tiny, medium and massive fleets.

ABOUT NIKOLA Company:­
Nikola Corporation is globally reworking the transportation industry. As a designer and maker of zero-emission battery-electrical and hydrogen-electric powered vehicles, electrical car or truck drivetrains, car or truck components, electricity storage units, and hydrogen station infrastructure, Nikola is driven to revolutionize the financial and environmental impact of commerce as we know it right now. Started in 2015, Nikola Company is headquartered in Phoenix, Arizona. For more data, check out www.nikolamotor.com or Twitter @nikolamotor.

ABOUT ENGS Industrial FINANCE:­
ENGS Professional Finance Co. (“ENGS”), is a member of Mitsubishi HC Money Team (“MHC”), a single of the largest and most highly regarded brand names in the globe. ENGS delivers very best-in-class, technological innovation-enabled funding options to sellers and consumers of professional tools, giving a 100% electronic finance and service solution for bigger effectiveness and streamlined purchaser practical experience. By means of ENGS Professional Funds LLC, ENGS provides top Performing Capital products, and insurance products by means of ENGS Insurance coverage Agency. ENGS is dedicated to supporting MHC’s global social goals by delivering financing offerings in the renewable and option energy marketplaces.

Forward On the lookout STATEMENTS
Certain statements included in this push release that are not historical information are forward-on the lookout statements. Forward-seeking statements commonly are accompanied by phrases this kind of as “believe that,” “could,” “will,” “estimate,” “continue on,” “anticipate,” “intend,” “count on,” “ought to,” “would,” “plan,” “forecast,” “potential,” “appear,” “look for,” “long term,” “outlook,” and similar expressions that predict or show potential situations or traits or that are not statements of historical issues. These forward-hunting statements include things like, but are not limited to, statements relating to the expected advantages of the agreement with ENGS. These statements are centered on different assumptions, whether or not determined in this press launch, and on the existing anticipations of Nikola’s management. We are unable to assure you that forward searching statements will be reached and ahead-wanting statements are not predictions of real general performance. Ahead-seeking statements are matter to risks and uncertainties that could cause real benefits to vary materially from the forward-wanting statements, which include but not minimal to, the failure to understand the predicted added benefits of the settlement structure and production changes, issues and delays financial, monetary, authorized, provide chain, regulatory, political and business disorders and variations in domestic and overseas marketplaces the potential results of COVID-19 the potential effects on global markets from the war in Ukraine the final result of authorized, regulatory and judicial proceedings to which Nikola is, or may perhaps grow to be a party demand from customers for and customer acceptance of Nikola’s trucks risks linked with enhancement and screening of gasoline mobile electric power modules and hydrogen storage methods risks relevant to the rollout of Nikola’s organization and the timing of anticipated enterprise milestones, like supply of trucks for sale the consequences of opposition on Nikola’s long term organization the availability of capital risks affiliated with adjustments in accounting treatment or accounting expectations and the other challenges specific from time to time in Nikola’s stories submitted with the Securities and Exchange Fee, which includes its annual report on Type 10-K for the 12 months finished December 30, 2021 and other documents Nikola data files with the SEC. If any of these risks materialize or our assumptions prove incorrect, genuine success could differ materially from the results implied by these forward-searching statements. These ahead-on the lookout statements communicate only as of the date hereof and Nikola particularly disclaims any obligation to update these ahead-seeking statements.

Working directly through the Nikola dealer network, ENGS Commercial Finance Co. will offer customer finance solutions for the purchase of Nikola vehicles, charging assets and infrastructure requirements to offer a broad range of financial solutions to Nikola customers.

Doing the job directly by way of the Nikola vendor network, ENGS Industrial Finance Co. will offer you client finance answers for the buy of Nikola automobiles, charging belongings and infrastructure necessities to supply a wide assortment of economic solutions to Nikola consumers.

Nikola Corporation Logo (PRNewsfoto/Nikola Corporation)

Nikola Company Logo (PRNewsfoto/Nikola Company)

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Source Nikola Corporation

https://finance.yahoo.com/information/nikola-engs-professional-finance-co-120000747.html