General Motors Co. took a $2-billion equity stake in startup Nikola Corp. and agreed to manufacture a new electric-pickup model in a deal that diversified the Detroit-based automaker’s alternate-fuel-vehicle strategy.
to generate any meaningful revenue — an immediate boost of legitimacy and the industrial might of an established player while also benefiting GM. The well-established automaker expects to receive more than $4 billion in perks from the deal. In addition to the equity value of the shares, it will be paid to manufacture the Badger, supply batteries and begin commercializing fuel-cell technology for the semi-truck industry.
GM does risk fostering a new rival in the way that early investments in Tesla Inc. by Daimler AG and Toyota Motor Corp. helped that electric-car company grow into a fierce competitor. But GM Chief Executive Officer Mary Barra sees lots of room for growth in the budding market for EVs. She noted that GM gained access through Nikola to the Class 7 and 8 freight truck business.
“This news is a huge shot in the arm for Nikola,” Dan Ives, an analyst at Wedbush Securities with a “neutral” rating on the company’s stock, said in a research note Tuesday. “There have been many skeptics around Nikola and its founder Trevor Milton’s ambitions over the coming years, which now get thrown out the window with stalwart GM making a major strategic bet on Nikola for the next decade on the EV and fuel-cell front.
Now we're talking, that Nikola Badger finally looks like a truck that I would own.
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General Motors takes 11 percent stake and $2 billion in equity in electric truck maker NikolaNikola’s shares surged by about 45 percent in premarket trading, while GM jumped by almost 9 percent. Dot. What GM should do is quit stealing from it's employees and completely shut down. No more bailouts for this company that makes shit vehicles that are WAY over priced. I breath thru my nose. Most time ita like aome danial son. .....oops fbi is in my wY Way i hope
Source: NBCNews - 🏆 10. / 86 Read more »
General Motors Takes Stake in Electric-Vehicle Company NikolaGM agreed to help Nikola engineer and build its electric pickup truck in exchange for an 11% stake, the latest tie-up between a traditional auto maker and a vehicle upstart. lol.. desperate moves.. this is a really bad investments.... sigh. so sad for GM (Watching the end times of legacy auto)
Source: WSJ - 🏆 98. / 63 Read more »
General Motors buys 11% equity stake in electric truck maker NikolaGeneral Motors Co said on Tuesday it was acquiring an 11% stake in U.S. electric truck maker Nikola Corp , worth about $2 billion, and will team up with the nascent company to make a pick-up truck powered by a battery-electric system and or fuel cell variants. Remind me, who killed the electric car in the mid 90's GM! You idiots had this! You bastards could have been on the ramparts against climate change. But you threw it all away. GM should sell to Tesla just because the of the name.
Source: Reuters - 🏆 2. / 97 Read more »
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Source: CNBC - 🏆 12. / 72 Read more »
Nikola shares surge 45% after General Motors takes 11% stake in electric truck makerNKLA ceo did one heck of a sales job to get GM ceo to jump in with both feet Found money... Its not JUST IN in they are already UP 40%. Good thing I got in while CNBC was laughing like it couldn't happen! while secretly buying as well. Good Job nikolatrevor by showing the world how judgmental they are!
Source: CNBC - 🏆 12. / 72 Read more »
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Source: CNBC - 🏆 12. / 72 Read more »