When the company was formed in 2014, it focused on using hydrogen fuel cells to power semi trucks. It now plans to offer customers various options, and has pushed into the more mainstream automotive market with the addition of a zero-emissions pickup, the Badger.
“This GM deal means they don’t have to build a plant, they don’t need to build a platform, they don’t need to build the batteries or fuel cells. They just hand over the body and interior design to GM and say 'You build this thing,'" said Sam Abuelsamid, principal automotive analyst at Navigant Research.
First developed nearly 150 years ago, fuel cells take oxygen from the air and hydrogen gas, combining them in a device called a stack. That creates a supply of electricity and water vapor. Fuel cells helped power the Apollo moon mission capsules and have numerous uses, including back-up energy for cellphone towers.
Separately, GM has partnered with South Korea’s LG Chem to develop a new, high-performance line of batteries, the Ultium cells that are due to go into production at a new plant near Lordstown, Ohio. It will use those for “20 or more” battery-electric vehicles due out by 2023, the companies said. The Ultium cells are intended to deliver more power, charge more rapidly, and come down substantially in cost compared to the batteries the automaker uses today.
Fantastic! We recently had NikolaMotor's founder nikolatrevor on our podcast, TheFounderHour to share his story + why he started Nikola and where they're headed. Listen to it here:
What does the PPP loan have to do with this strategic partnership? Nothing! Weak headline trying to drag nikolamotor an innovative startup through the mud.
Then we can drive to the food pantry in our electric truck because it’s more important to give money to corporations than to unemployed citizens. Imagine how many families that money could have helped.
That is what the world needs now. New trucks.
Can we stop trying to make money on the back of Nikola Tesla?
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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 »
Nikola shares pop 45% after General Motors takes 11% stake in electric truck makerNikola has announced the original equipment manufacturing partner that the company will be teaming up with on its new pickup called the Badger. General Motors will be engineering and manufacturing the vehicle and will receive an 11% ownership stake in Nikola. Trevor Milton, founder and executive chairman of Nikola, and Mary Barra, CEO of General Motors, join 'Squawk Box' to discuss the partnership. Holy Moly...$TSLA is so screwed!! Are you looking a for a custom, unique, typography and minimal illustrated T-shirt design? provide me your name brand/quote/text, and I will create a minimalist typography and minimal illustrated shirt design for it! Order now :
Source: CNBC - 🏆 12. / 72 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 »
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 »
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 »
Nikola Surges As GM Takes Stake In Hydrogen Truckmaker, Partners On Electric PickupGeneral Motors and Nikola are forming a broad alliance on advanced vehicle technology, with the largest U.S. automaker partnering with the hydrogen truck startup to produce its electric pickup and providing battery and fuel cell Nikola...Tesla what’s wrong with this damned synopsis? Now they just need to team up with PLUG, another excellent company !
Source: Forbes - 🏆 394. / 53 Read more »