General vehicle thread

[Gman]

Nikola and GM team up to make this 900-horsepower super electric truck

Nikola (NKLA) and GM (GM) are teaming up to take on Tesla’s cybertruck.

The electric truck startup announced Tuesday it has selected GM to be its manufacturing parter for its electric pickup truck dubbed the Badger. The Badger will use GM’s widely acclaimed Ultium battery technology. Additionally, Nikola will hand over $2 billion in stock to GM — giving the automaker an 11% stake in the company.

Shares of Nikola and GM rose 40% and 8%, respectively on the tie-up.

“General Motors was the perfect fit,” Nikola founder executive chairman and CEO Trevor Milton told Yahoo Finance’s The First Trade.

Autoweek: GM’s Going to Build the Nikola Badger Electric Pickup Truck

Electric and fuel cell pickup truck maker Nikola just got a $2 billion shot in the swing arm from a new strategic partnership with General Motors. GM announced this morning that the two companies formed the partnership to build the Badger pickup, a sleek new model due in 2022 powered by your choice of electric batteries or fuel cell technology.

GM said in the deal's announcement that it would be “a strategic partnership that begins with the Nikola Badger and carries cost reductions through Nikola’s programs, including: Nikola Badger, Nikola Tre, Nikola One, Nikola Two and NZT. As part of the agreement, Nikola will utilize General Motors’ Ultium battery system and Hydrotec fuel cell technology, representing a key commercialization milestone for General Motors.”

Those other Nikola-badged products are big semis, an area Nikola specializes in. Nikola even has a side-by-side and a personal watercraft in the works.