With this partnership, ENGS will work directly through the Nikola dealer network and offer financial solutions for the purchase of Nikola vehicles.
ENGS is a finance company specializing in transportation, industrial equipment, construction vehicles, as well as working capital products and insurance. ENGS currently has more than $1.6 billion in assets under management, and more than 70 years of experience financing trucks and trailers for small, medium and large fleets.
Jim Freund, Executive Vice President & Chief Marketing Officer of ENGS said the collaboration between ENGS and Nikola can provide customers with financial solutions and help promote Nikola's products.
From Nikola's side, ensuring commercial fleet operators have plenty of financing options to decarbonize their truck fleets.
In January, Nikola and Corcentric Fleet Funding Solutions also signed an agreement to facilitate the sale of the Class 8 Nikola Tre BEV and FCEV.
Nikola Motor previously announced that it has started series production of the Nikola Tre electric truck at its Coolidge plant in Arizona. Delivery of the first phase is scheduled for the second quarter of 2022.