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General Motors and Nikola announced a strategic partnership

3 mins read

The FINANCIAL — Nikola Corporation and General Motors announced a strategic partnership that begins with the Nikola Badger and carries cost reductions through Nikola’s program. As part of the agreement, Nikola will utilize General Motors’ Ultium battery system and Hydrotec fuel cell technology, representing a key commercialization milestone for General Motors. Nikola will exchange $2 billion in newly issued common stock for the in-kind services and access to General Motors’ global safety-tested and validated parts and components.  As part of a multi-part, multibillion-dollar deal, GM received an 11% stake in Nikola, valued at about $2 billion. In return for the Nikola shares,…

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General Motors and Nikola announced a strategic partnership

3 mins read

The FINANCIAL — Nikola Corporation and General Motors announced a strategic partnership that begins with the Nikola Badger and carries cost reductions through Nikola’s program. As part of the agreement, Nikola will utilize General Motors’ Ultium battery system and Hydrotec fuel cell technology, representing a key commercialization milestone for General Motors. Nikola will exchange $2 billion…