GM

COMPANY NOW HAS 11% OF NIKOLA MOTORS AND WILL PRODUCE NEW ELECTRIFIED PICKUP

To beat the all-powerful Tesla in the world of electric vehicles, it takes a little more than a great idea. Brands know this and that is why more and more collaborations have started to emerge between new companies that aspire to beat the Californian company with their new ideas and traditional giants that seek to support and boost technologies and models already developed.
This is the case of Ford and Rivian, for example, and now also of other renowned brands, very similar. We speak of General Motors and Nikola Motors, which have just signed a new agreement that will lead the American giant to acquire 11% of Arizona's hydrogen-powered car start-up.
General Motors thus has a stake in the company valued at $ 2 billion, but this move will also imply that GM is in charge of producing Nikola Badger, the company's revolutionary electric pick-up that will feature a fuel cell hydrogen. For its part, Nikola Motors, which in spite of everything will remain an independent company, will be in charge of the commercialization and marketing of the Badger pick-up.
This move will allow Nikola to significantly reduce production costs for one of its most anticipated models and will also open the door to the use of General Motors technologies, such as its innovative Ultium battery, and the Hydrotec hydrogen fuel cell.
“Nikola is one of the most innovative companies in the world and General Motors is one of the world's leading engineering and manufacturing companies. One could not dream of a better association than this one ”highlights Nikola's founder and executive president, Trevor Milton.
"By joining, we will gain access to its validated parts for all of our programs, General Motors Ultium battery technology and a billion-dollar hydrogen fuel cell program ready for production. Nikola immediately gets a system production-ready electric propulsion engine with decades of supplier and manufacturing knowledge, validated and tested, world-class engineering and investor confidence. Most importantly, General Motors has a strong interest in Nikola succeeding, ”he says. Milton.

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