PHOENIX, Ariz. – Nikola Corporation has revealed Bosch and Hanwha as strategic investors who have collectively invested more than US$230 million into the company.

Both companies have invested at least US$100 million, Nikola announced.

Bosch has been an “instrumental partner,” according to Nikola, in developing its heavy-duty vehicle fuel cell system and battery technology.

Hanwha is into renewable energy and solar panel manufacturing, and is helping Nikola obtain clean energy for its hydrogen fueling network.

“I’m excited to finally share two of our strategic investors to date. Bosch can help us commercialize very complex vehicle components and Hanwha can provide us with clean energy at hydrogen locations where possible,” said Trevor Milton, CEO if Nikola. “Everyone wins because together we’re helping make zero emissions a reality. Rather than going at this alone like many startups do, my goal was to build the most powerful network of partners in the world, and I believe we have done a pretty good job at that with CNHI, Bosch, Hanwha and others.”