Blog Exposure – WABCO Acquires 1% Stake in Heavy Duty Electric Vehicle Company Nikola Motor by Investing $10 Million

LONDON, UK / ACCESSWIRE / December 22, 2017 / Active-Investors.com has just released a free report on WABCO Holdings Inc. (NYSE: WBC) (“WABCO”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WBC. On December 20, 2017, the Company announced that it has invested $10 million in Nikola Motor Company. The strategic investment is aimed at showing the Company’s support for the development of the electric and highly automated commercial vehicles in US and worldwide. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, WABCO Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Key Points of the investment

With the investment of $10 million, WABCO will acquire 1% equity stake in Nikola. Additionally, both Companies have also signed an agreement for accelerating the development of pioneering safety technologies. These safety techniques will be specifically designed for the for electric commercial vehicles. While working on the next generation safety technologies, the focus will be on electronic braking systems (EBS), traction, and stability control technologies.

These developments are just ahead of Nikola’s plans to start the testing of its zero-emission electric semi-trucks Nikola One. It plans to start the testing of Nikola Ona with commercial vehicle fleets in late 2018. Nikola had launched the Nikola One in December 2016 and has plans to start full production of these trucks in FY21. The Nikola One is a 2,000 horsepower, hydrogen powered, 100% electricity drive, class 8 electric sleeper semi-truck.

Commenting on the strategic investment in Nikola, Jacques Esculier, Chairman and CEO of WABCO, said:

“As vehicles become increasingly autonomous, electric, and connected, WABCO continues to be at the forefront of breakthrough technology innovation. We are excited to invest in Nikola Motor Company to help the industry realize our joint vision of electrified and autonomous trucks, buses, trailers and off-highway vehicles. WABCO’s technologies, notably industry-leading braking, traction, and stability control systems, continue to advance the transportation industry.”

Trevor Milton, Founder and CEO of Nikola, added:

“WABCO is a vital business partner to enable autonomous driving, electronic braking, and stability control for trucks and trailers. WABCO is recognized as a global leader in safety and efficiency technologies for next-generation commercial vehicles. We have added a world-class supplier to the Nikola truck family and are looking forward to our collaboration to bring Nikola’s zero emission trucks to market.”

About WABCO Holdings Inc.

Brussels, Belgium-based WABCO is the No.1 global supplier of technologies and services that improve the safety, efficiency, and connectivity of commercial vehicles. The Company has been developing innovative systems to make vehicles safer and easier to control since 1869. The Company continues to pioneer breakthrough innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics for the world’s commercial truck, bus, trailer, car and off-highway manufacturers. The Company has presence on 40 locations worldwide and 28 manufacturing locations on four continents, 3 test tracks. It is supported by a team of 3,000 employees – including 2,000 engineers.

WABCO reported sales of $2.8 billion in FY16

About Nikola Motor Company

Salt Lake City, Utah-based Nikola Motor is a privately-held company founded by Trevor Milton. The Company designs and manufactures electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. It is a pioneer in electric heavy-duty applications. Nikola offers both pure electric and hydrogen electric powertrains to cover class 6-8 in transportation. The Company has received $6.5 billion in pre-order reservations for the Nikola Hydrogen Electric Truck.

Stock Performance Snapshot

December 21, 2017 – At Thursday’s closing bell, WABCO Holdings’ stock slightly rose 0.24%, ending the trading session at $143.85.

Volume traded for the day: 187.48 thousand shares.

Stock performance in the previous six-month period – up 17.30%; past twelve-month period – up 31.19%; and year-to-date – up 35.52%

After yesterday’s close, WABCO Holdings’ market cap was at $7.74 billion.

Price to Earnings (P/E) ratio was at 26.02.

The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry. This sector was up 0.2% at the end of the session.

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