(Reuters) -Nikola Corp said on Thursday it had signed a deal with Bosch Group, that would allow the electric-vehicle startup to build Bosch fuel-cell power modules at its Coolidge, Arizona facility.
Nikola expects to launch the fuel-cell power modules in 2023. The company’s shares were up over 5% at $11.31 in premarket trading.
As per the deal, Bosch will supply fully assembled fuel-cell power modules and other major components to Nikola, including the fuel-cell stack. Nikola will then assemble them at its manufacturing unit in Coolidge.
A fuel cell power module is a system that generates electricity from hydrogen in vehicles and is essentially used in commercial vehicles.
(Reporting by Akanksha Rana in Bengaluru; Editing by Shailesh Kuber)
