Iveco has completed the acquisition of Germany-based BEV and FCEV truck joint venture with Nikola, initially announced in May.

Nikola Iveco Europe will be renamed EVCO (Electric Vehicles Company) as part of the acquisition.

“The successful completion of this announced step reconfirms the steady commitment of the company in playing a leading role in the zero-emission heavy duty transport segment,” Iveco said.

Iveco will concentrate on Europe for the further development and commercialisation of its own battery-electric and fuel-cell-electric trucks, which includes rolling out its financing business model GATE, and Nikola will focus its operations in North America, with an integrated approach to its customers, offering BEV, FCEV and hydrogen infrastructure via its HYLA brand.