Engs Commercial Finance to support sales of Nikola Trucks

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Nikola Corporation and Engs Commercial Finance Co. announced on Tuesday the signing of an agreement to facilitate sales of Nikola Tre Class 8 Battery Electric Vehicles (BEVs) and Nikola Tre Hydrogen Fuel Cell Electric Vehicles (FCEVs). .

Working directly through the Nikola dealer network, Engs says it will offer customer financing solutions for the purchase of Nikola vehicles, load assets and infrastructure needs to offer a wide range of financial solutions to Nikola customers. . The agreement reinforces Nikola’s commitment to partnering with well-established transportation finance specialists to offer customized financing solutions to Nikola dealers and customers. Engs will also help Nikola and its dealers facilitate sales by providing dealer floor plan financing solutions, parts and service financing, and other related capital needs.

[RELATED: Nikola taps Alta Equipment as Arizona dealer]

“Our partnership with Engs will strengthen our ability to help even more fleets go zero emissions by offering a variety of innovative solutions to customers who need alternative financing options,” said Nikola, Chief Financial Officer, Kim Brady.

The start of production of the Tre BEVs began last week at Nikola’s Coolidge, Arizona manufacturing facility. Deliveries of the Nikola Tre FCEV are scheduled for 2023.

“Engs is very pleased to partner with Nikola. We share many of the same sustainability and technology goals,” says Jim Freund, Executive Vice President and Chief Marketing Officer of Engs. working closely with Nikola and its dealer network to provide the best customer finance products on the market to help promote the sale of Nikola trucks.”

Tom Canepa, Engs Vice President, Sustainability Solutions, adds, “Working with companies that promote initiatives related to the Sustainable Development Goals is very important to us, and we are proud to partner with Nikola and its dealers. »

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