In a two-year search for a partner, Stephen Girsky and his VectoIQ Acquisition Corp. made a merger deal with Nikola Corp. — energizing Nikola’s plans for battery-electric and hydrogen fuel cell EVs along with a hydrogen fueling station infrastructure.
The two companies are merging under the name Nikola Corp. and will be listed on the Nasdaq under the new ticker symbol NKLA. The deal is expected to close during the second quarter, according to a statement released Tuesday.
Girsky, VectoIQ’s CEO and a former General Motors vice chairman, was searching for the right company with the ability to grow,
“Nikola was the clear winner,” Girsky said in the statement. “Nikola’s vision of a zero-emission future and ability to execute were key drivers in our decision.”
Nikola CEO and founder Trevor Milton told Automotive News that Nikola was the perfect company for VectoIQ as a full zero-emission truck manufacturer.
“We are on a roll,” Milton said in the statement. “You couldn’t ask for…