Hanwha General Chemical-Hanwha Energy, Partial Sale of Nikola Shares

[Asia Economy Reporter Kim Hyewon] Green Nikola Holdings (hereinafter Green Nikola), established in the United States by Hanwha General Chemical and Hanwha Energy for investment in Nikola, has sold a portion of its Nikola shares.

Green Nikola announced on the 30th (local time) that it sold 2.9 million shares out of 22.13 million Nikola shares. The cumulative sales amount is $53.67 million (approximately 60 billion KRW). Following the partial sale of Nikola shares held by Green Nikola, the shareholding ratio dropped from 5.6% to 4.86%.

Earlier, Green Nikola disclosed in a public announcement in March that it planned to sell up to 50% (11 million shares) of the 22.13 million Nikola shares it holds from June 9 to December 10 this year.

Hanwha General Chemical and Hanwha Energy decided to sell part of their Nikola shares for new business investments such as hydrogen and energy transition projects.

Hanwha stated, "Separate from the share sale, the strategic partnership with Nikola will be maintained," adding, "We plan to strengthen the hydrogen industry value chain from hydrogen production to storage and transportation, including building an eco-friendly mobility ecosystem using hydrogen, an eco-friendly energy source, in cooperation with Nikola."

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