U.S.-based electric components, drivetrains and vehicles maker Nikola Corp. has closed $205 million in an oversubscribed Series C funding round.
Nikola was targeting to raise $105 million from its investors.
With the oversubscribed funding, Nikola is planning to build a $1 billion factory in Arizona to manufacture its electric hydrogen semi trucks.
Nikola is seeking to identify a European location for a manufacturing facility which will start operations in 2019.