12-01-2020, 03:15 PM
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GM renegotiates Nikola deal, erases equity stake and EV pickup production plans
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General Motors is backing down from its blockbuster deal with EV startup Nikola. The $2 billion equity-stake deal announced in September, which would give Nikola access to GM’s manufacturing, Ultium battery, and Hydrotec technologies, will be significantly scaled back following renegotiations. Under the new terms of a non-binding agreement, GM’s previous 11-percent stake and role in producing Nikola’s EV pickup have been scrapped.
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https://www.hagerty.com/media/news/g...duction-plans/
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