Korean conglomerate Hanwha Group is celebrating the NASDAQ listing of Nikola, in which it has 6.13% of shares. The group said the value of its shares increased by over seven times since 2018 when it first invested in the US hydrogen truck startup. Hanwha’s subsidiaries have the right to operate many kinds of businesses with Nikola, including the operation of hydrogen recharging stations. Hanwha Q Cells might also catch opportunities to PV modules, which will be installed on the rooftops of the stations.
Hanwha is planning to take the listing as a chance to foray into the US hydrogen market.