ENGS Commercial Finance to Facilitate Sales of Zero-Emission Semi-Trucks for Nikola

Nikola Corporation, a provider of zero-emissions transportation and energy infrastructure solutions, and ENGS Commercial Finance, a member of Mitsubishi HC Capital Group, signed an agreement to facilitate sales of Class 8 Nikola Tre battery-electric vehicles (BEVs) and Nikola Tre hydrogen fuel-cell electric vehicles (FCEVs).

Working directly through the Nikola dealer network, ENGS will offer customers finance solutions for the purchase of Nikola vehicles, charging assets and infrastructure requirements. ENGS will also help Nikola and its dealers facilitate sales by offering floorplan financing solutions, parts and service financing and other related 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,” Kim Brady, CFO of Nikola, said.

Start of production of the Tre BEVs began last week at Nikola’s Coolidge, AZ, manufacturing facility. Deliveries of Tre FCEVs are expected to begin in 2023.

“ENGS is very excited to partner with Nikola. We share many of the same goals on sustainability and technology,” Jim Freund, executive vice president and chief marketing officer of ENGS Commercial Finance, said. “We look forward to working closely with Nikola and their dealer network to provide the best customer finance products in the market to help promote the sale of Nikola trucks.” 

“Working with companies that promote sustainable development goals initiatives is very important to us, and we are proud to partner with Nikola and its dealers,” Tom Canepa, vice president of sustainable development solutions at ENGS Commercial Finance, said.