Daimler introduces hydrogen truck, Nikola (NKLA) stock recovers .

Daimler introduces hydrogen truck, Nikola (NKLA) stock recovers .

Another competitor enters the hydrogen trucks stage. And this time Nikola (NASDAQ:NKLA) really needs to pay attention (once they finish with DOJ inquiries). But not just them, Nikola shareholders as well. On September 16th (today) Daimler is revealing its “next milestone on the road to a CO2 neutral transportation”, H2 Truck. SO far the complete fuel cell unit and hydrogen storage system for Daimler vehicles was produced by NuCellSys GmbH (wholly owned subsidiary of Daimler AG), the fuel cell stack is created at Mercedes-Benz Fuel Cell and the hydrogen tank system is produced at the Mercedes-Benz plant in Mannheim. But seems like things are changing for Hydrogen Powered Trcuk. In April this year, Daimler Truck AG concluded a preliminary, non-binding agreement with the Volvo Group to establish a new JV for the development to series maturity, production and commercialization of fuel-cell systems for use in heavy-duty commercial vehicles and other applications. Joining forces will decrease development costs for both companies and accelerate the market introduction of fuel cell systems. The joint venture is to benefit from the expertise of Daimler Truck AG and the Volvo Group. To facilitate the joint venture with the Volvo Group, Daimler Truck AG has brought together all Group-wide fuel-cell activities in the newly founded subsidiary Daimler Truck Fuel Cell GmbH & Co. KG. “Batteries have its limits, that is where hydrogen takes over”-said Andreas Scheuer, German Federal Minister of Transport and Digital Infrastructure, and he added that “We need a fast energy turnaround “. During the event he also announced ...
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