Alta Equipment Group Inc. (NYSE: ALTG) (“Alta”), a leading
provider of construction and material handling equipment, today
announced that it has been awarded the Arizona sales and service
territory for Nikola Corporation (NASDAQ: NKLA) (“Nikola”), a
global leader in zero-emissions transportation and energy
infrastructure solutions.
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This agreement further expands Alta’s dealer territory with
Nikola beyond the NY, NJ, eastern PA and New England markets, as
announced in August of 2021, and will replace Empire Transport in
Arizona.
With over 37 years of experience, Alta is well-established in
the midwest and the northeast with over 60 dealership locations
supporting other OEMs. With a proven track record of successful
growth, Alta has a clear vision for the potential of the Nikola
products (i.e., battery-electric and hydrogen fuel cell electric
vehicles, mobile charging trailers, hydrogen fueling
infrastructure, etc.), to grow their eMobility vertical by
fulfilling its commitment to clean technologies.
“We are excited to be granted this new territory as it gives us
the opportunity to deepen our relationship with Nikola, especially
given their headquarters and US manufacturing facility is in
Arizona,” said Ryan Greenawalt, Chief Executive Officer of Alta.
“It is also significant because we believe Arizona is a market
prime for electric vehicle growth.”
The first Nikola product Alta will sell is the Tre
battery-electric vehicle (BEV). With an expected range of up to 350
miles, the Tre BEV has a cabover design ideal for metro-regional
applications because of improved visibility and
maneuverability.
“As Nikola expands its BEV production in 2022 from our Coolidge,
Arizona manufacturing facility, a great hometown dealer to sell and
service our products is incredibly valuable,” said Pablo Koziner,
President of Nikola Energy and Commercial. “Alta continues to be
committed to our shared vision and is driven to grow this territory
as yet another step towards a zero-emissions future. We are
grateful for Alta’s enthusiasm and passion for our products and our
partnership.”
About Alta Equipment Group Inc.
Alta owns and operates one of the largest integrated equipment
dealership platforms in the U.S. Through its branch network, the
Company sells, rents, and provides parts and service support for
several categories of specialized equipment, including lift trucks
and aerial work platforms, cranes, earthmoving equipment and other
material handling and construction equipment. Alta has operated as
an equipment dealership for 37 years and has developed a branch
network that includes over 60 total locations across Michigan,
Illinois, Indiana, New England, New York, Ohio, Virginia and
Florida. Alta offers its customers a one-stop-shop for most of
their equipment needs by providing sales, parts, service, and
rental functions under one roof. More information can be found at
www.altg.com.
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.
Forward Looking Statements
This presentation includes certain statements that may
constitute “forward-looking statements” for purposes of the federal
securities laws. Forward-looking statements include, but are not
limited to, statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions. The words “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intends,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements may include, for example, statements about: our future
financial performance; our plans for expansion and acquisitions;
and changes in our strategy, future operations, financial position,
estimated revenues, and losses, projected costs, prospects, plans
and objectives of management. These forward-looking statements are
based on information available as of the date of this presentation,
and current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties. Accordingly,
forward-looking statements should not be relied upon as
representing the parties’ views as of any subsequent date, and we
do not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws. You should not place undue reliance on these forward-looking
statements. As a result of a number of known and unknown risks and
uncertainties, actual results or performance may be materially
different from those expressed or implied by these forward-looking
statements. Some factors that could cause actual results to differ
include, but are not limited to: (1) the outcome of any legal
proceedings that may be instituted against us relating to the
business combination and related transactions; (2) the ability to
maintain our listing of shares of common stock on the New York
Stock Exchange; (3) the risk that integrating our acquisitions
disrupts our current plans and operations; (4) the ability to
recognize the anticipated benefits of our business combination and
acquisitions, which may be affected by, among other things,
competition, our ability to grow and manage growth profitably, our
ability to maintain relationships with customers and suppliers and
retain our management and key employees; (5) changes in applicable
laws or regulations; (6) the possibility that we may be adversely
affected by other economic, business, and/or competitive factors;
(7) disruptions in the political, regulatory, economic and social
conditions domestically or internationally; (8) major public health
issues, such as an outbreak of a pandemic or epidemic (such as the
novel coronavirus COVID-19), which could cause disruptions in our
operations, supply chain, or workforce; and (9) and other risks and
uncertainties identified in this presentation or indicated from
time to time in the section entitled “Risk Factors” in our annual
report on Form 10-K and other filings with the U.S. Securities and
Exchange Commission (the “SEC”). The company cautions that the
foregoing list of factors is not exclusive, and readers should not
place undue reliance upon any forward-looking statements, which
speak only as of the date made. We do not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in its expectations or any change in events, conditions or
circumstances on which any such statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20220323005264/en/
Alta Contacts: Investors: Bob Jones / Taylor
Krafchik Ellipsis IR@altaequipment.com (646) 776-0886
Media: Glenn Moore Alta Equipment Group
glenn.moore@altg.com (248) 305-2134
Nikola Media Contacts: Nicole Rose nicole.rose@nikolamotor.com
480-660-6893
Colleen Robar crobar@robarpr.com 313-207-5960
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