Nikola Motor Firm Badger pickup truck
Supply: Nikola Motor Firm
General Motors is taking an 11% stake in electrical truck maker Nikola, agreeing to construct its hydrogen gasoline cell electrical pickup truck the Badger by the tip of 2022.
Nikola’s shares surged by about 30% in premarket buying and selling whereas GM jumped by virtually 9%.
GM is getting a $2 billion stake in Nikola in change for in-kind companies and can turn into the unique provider of gasoline cells globally outdoors of Europe to Nikola for Class 7/eight truck.
“This strategic partnership with Nikola, an trade main disrupter, continues the broader deployment of Basic Motors’ all-new Ultium battery and Hydrotec gasoline cell methods,” mentioned GM CEO Mary Barra mentioned in an announcement.
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