GM buys $2 billion stake in Nikola, will build Badger hydrogen-electric pickup

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Shares of Nikola, which competes with Tesla Inc’s Cybertruck, soared more than 30% to $46.30 in pre-market trade. General Motors will receive $2 billion in newly issued Nikola stock and will get a right to nominate one director to the electric truck maker’s board. As a manufacturing partner, the No.1 U.S. automaker said it will build the Nikola Badger with either an electric battery or fuel cell electric variants.

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GM buys $2 billion stake in Nikola, will build Badger hydrogen-electric pickup originally appeared on Autoblog on Tue, 8 Sep 2020 09:18:00 EDT. Please see our terms for use of feeds.

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