Nikola and RIG360 Announce Expansive Sales and Service Dealer Network
Nikola Corporation (NASDAQ: NKLA) announced a partnership with RIG360 Service Network to establish a nationwide sales and service network for its Class 8 trucks. This initiative will support Nikola's BEV and FCEV vehicle sales through over 65 RIG360 dealer locations in the Southeast, Midwest, and Northeast regions of the U.S. The partnership aims to enhance customer service and operational efficiency, contributing to the adoption of zero-emission vehicles. Nikola plans to finalize agreements in the coming months to support the launch of the Nikola Tre BEV later this year.
- Establishing a nationwide sales and service network through partnership with RIG360.
- Access to over 65 dealer locations enhances market coverage for Nikola's BEV and FCEV vehicles.
- Expected improvement in customer service and operational efficiency.
- None.
PHOENIX, April 8, 2021 /PRNewswire/ -- Nikola Corporation (NASDAQ: NKLA), a leading designer and manufacturer of heavy-duty commercial battery-electric vehicles ("BEVs"), fuel-cell electric vehicles ("FCEVs") and energy infrastructure solutions, announced today its first step in establishing a nationwide plan for its Class 8 truck sales and service coverage. Nikola, in partnership with RIG360 Service Network, a network of heavy-duty truck service and maintenance centers, plans to provide sales and service products for commercial customers at more than 65 RIG360 dealer locations throughout the Southeast, Midwest and Northeast regions of the United States.
In addition to providing service and maintenance for Nikola's complete portfolio of Class 8 trucks, this dealer association is intended to provide customers with a well-known and reputable sales and distribution channel to be established for Nikola BEV and FCEV vehicles and ancillary products and services.
"RIG360 is a premier network of dealers that are committed to the highest levels of service support," said Nikola Energy and Commercial President Pablo Koziner. "These dealers will provide Nikola customers with market leading sales and service while helping them maximize operational efficiencies and vehicle uptime. We expect this association to play an integral part in advancing Nikola's zero-emission vehicle sales and overall industry adoption by providing assurance in reliability and support over the life of our products."
The robust RIG360 network consists of seven individual dealerships that average more than 75 years of providing strong sales and service support to customers, and have extensive experience servicing on-highway trucks and working with drivers and fleet managers. This dealer network includes: Blanchard Machinery, Cleveland Brothers, Foley Equipment, MacAllister Machinery, Thompson Machinery, Thompson Tractor and Yancey Bros. Co.
"Rig 360 was founded based on the belief that the experience and expertise of our people and network could serve our customers at the highest levels for all their fleet needs," said DeWitt Thompson, V, CEO of Thompson Machinery and Nikola board member.
"We are very proud and excited to partner with Nikola and their innovative portfolio of products and services," said Jon Robinson, RIG360 Board Chair. "RIG360 has always put exceptional, quality service at our core, and adding Nikola to our portfolio will allow us to continue to serve our customers."
Nikola and RIG360 expect to finalize distribution plans and agreements in the coming months in order to fully support customers in the sale and service of the Nikola Tre BEV which will be launched later this year, as previously announced. Nikola remains committed to the expansion of its distribution network in support of customers throughout North America.
About Nikola Corporation:
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit www.nikolamotor.com or Twitter @nikolamotor.
About RIG360:
RIG360, LLC, was established to provide the on-highway truck industry with the highest quality service locations throughout the U.S. Serving a dozen states with more than 65 locations, RIG360 was born with a commitment to industry-leading service and Original Equipment quality products. The RIG360 Service Network is the most efficient, responsive and preferred Original Equipment-quality provider of parts and service to all makes and models of on-highway trucks. For more information, visit www.rig360truck.com or Twitter @RIG360.
Forward Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the potential benefits of the strategic partnership, including the ability to provide customers with market leading sales and service while maximizing operational efficiencies and vehicle uptime; the company's expectations regarding its business, business model and strategy; the company's expectations for its trucks and market acceptance of electric trucks; and market opportunity. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nikola's management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to, design and manufacturing changes and delays; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; the outcome of legal proceedings to which Nikola is, or may become a party; demand for and customer acceptance of Nikola's trucks; risks associated with development and testing of fuel cell power modules and hydrogen storage systems; the conversion of pre-orders into binding orders; risks related to the rollout of Nikola's business and the timing of expected business milestones; the effects of competition on Nikola's future business; the availability of capital; and the other risks detailed from time to time in Nikola's reports filed with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2020 and other documents Nikola files with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and Nikola specifically disclaims any obligation to update these forward-looking statements.
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SOURCE Nikola Corporation; RIG360 Service Network
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