* Iveco, Nikola unveil joint production site in Ulm
* Iveco spin-off from parent CNH planned for early 2022
* Iveco, Nikola sign MoU with Hamburg port for e-trucks
ULM, Germany, Sept 15 (Reuters) - Iveco, the truck and bus
business of Italian-American CNH Industrial, is
pressing ahead with plans for a spin-off aimed at expanding
electric vehicle production, its CEO-designate Gerrit Marx told
Reuters on Wednesday.
Marx was speaking at the inauguration of a production
facility in Ulm, Germany, where Iveco, a latecomer to electric
trucks, and Nikola will jointly make vehicles, starting
with the Nikola Tre from the end of the year.
"We are electrifying across the board. We are not behind,"
Marx, currently head of CNH's commercial and speciality vehicle
unit, told Reuters. "If you had asked me that question in
January 2019 I would have reluctantly agreed with you but not
Marx reiterated that the process to separate the truck, bus
and FPT engine units from CNH Industrial, which will focus on
its agricultural and construction equipment businesses, would
conclude at the beginning of next year.
"We target the earliest possible day. Regulatory steps
determine the speed," he said.
The new company will be named Iveco Group and be listed on
the Milan stock exchange in a move aimed at catching up with
competitors such as Renault and Volvo.
Daimler, the world's largest truckmaker, is
readying production of its first electric medium-sized truck
e-Actros in the fourth quarter.
Iveco and Nikola have also confirmed plans to launch
hydrogen fuel cell trucks at the end of 2023, in a deeper push
into alternative fuels for the commercial vehicle industry.
CNH Industrial is controlled by Exor, the holding
company of Italy's Agnelli family, which will be Iveco's largest
investor after it is spun off from CNH.
In a sign of Iveco's ambitions, the truckmaker on Wednesday
signed a memorandum of understanding under which it and partner
Nikola will test and deliver up to 25 vehicles to the port of
Hamburg, one of Europe's largest.
The agreement foresees the delivery of the Nikola Tre --
which is based on an Iveco platform -- throughout 2022.
"These types of landmark agreements continue to reinforce
the global shift we are seeing toward a new zero-emission
future," Nikola CEO Mark Russell said.
The car and truck industry is undergoing big corporate
changes as it adapts to low carbon emissions.
China's Geely Holding is in advanced discussions
with banks to list its Volvo Cars unit in the coming weeks,
three sources told Reuters, in what is expected to be one of
Europe's biggest initial public offerings (IPOs) this year.
Volvo Cars is aiming for a valuation of about $20 billion in
the planned Stockholm listing, the sources said, with one saying
it was penciled in for the end of September.
(Reporting by Ilona Wissenbach and Giulio Piovaccari; Writing
by Christoph Steitz; Editing by Madeline Chambers and Alexander