Nikola, Corcentric to facilitate zero-emission vehicle sales financing

Nikola TRE battery electric vehicle (BEV)

Nikola Corporation and Corcentric Fleet Funding Solutions announced a signed agreement to facilitate sales of Class 8 Nikola Tre battery-electric vehicles (BEVs) and Nikola Tre hydrogen fuel cell electric vehicles (FCEVs).

Pursuant to the agreement, Corcentric will purchase vehicles and related assets (e.g., charging assets) directly from Nikola to offer Nikola customers a bundled lease that provides Nikola trucks and related equipment, as well as fuel and maintenance, in a single agreement. 

“We believe this partnership will allow Nikola to reach more customers by offering solutions to those who otherwise may not have access to financing options,” says Nikola Chief Financial Officer Kim Brady.

“The agreement will provide Corcentric a launching point to expand its offerings into the electric vehicle space. Together we expect to provide funding resources, multiple options to tailor leases to customer needs, and best-in-class customer care for fleet customers and owner/operators,” Brady says.

Corcentric has been financing truck fleets since 1996, with more than 20,000 assets financed over the past 10 years, the company says.

Initial deliveries of the Nikola Tre BEVs began in late 2021. The Nikola Tre FCEV deliveries are anticipated in 2023, according to the announcement.        

Learn how to move your used trucks faster
With unsold used inventory depreciating at a rate of more than 2% monthly, efficient inventory turnover is a must for dealers. Download this eBook to access proven strategies for selling used trucks faster.
Used Truck Guide Cover