Filed under: Earnings/Financials,Green,Plants/Manufacturing,GM
General Motors Co and Nikola Corp on Monday announced a reworked, smaller agreement that keeps a fuel-cell partnership intact but eliminates an equity stake in the startup for the Detroit automaker as well as plans for building Nikola's electric pickup truck. In September, the companies announced a deal under which GM would supply batteries, a chassis architecture, fuel cell systems and a factory to build the startup's proposed Badger electric pickup in return for an 11% stake and $700 million.
Continue reading GM scraps plan to buy stake in Nikola and build its electric pickup
GM scraps plan to buy stake in Nikola and build its electric pickup originally appeared on Autoblog on Mon, 30 Nov 2020 09:19:00 EST. Please see our terms for use of feeds.
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