Nikola Motors, is an American company which manufactures zero-emission trucks. This company has been working on some electric and hydrogen fuel commercial vehicles and off-roaders. Since its presence on the US Nasdaq, many investors have been trying to seal a deal with the company in order to share some valuation. It is also being compared to Tesla, the biggest electric car manufacturer in the United States and of course, the whole automotive industry.
Nikola Motors opened orders for its Badger, which is a pick-up, months ago. This pick-up is to be available with electric and fuel cell motors and according to the company itself, was going to be debuted in December. As it was said, the Badger could generate 894 horsepower and 1328Nm of torque!
General Motors company became interested in Nikola Motors and they signed a contract in September. According to this deal, Nikola shared an %11 equity stake with GM, which was worth £1.53 billion. In exchange, Nikola could use General Motors’ Ultium battery and Hydrotec fuel innovation. General Motors also agreed to build Badger of its business partner.
Apparently, the two successful companies have sealed a new deal. Their agreements and conditions have been revised. According to the new deal, Nikola can still use the mentioned technology, but the use of General Motors’ batteries must be discussed. Instead, GM will not take the %11 share and will not manufacture the Badger pick-up.
Nikola Motors says:
As previously announced, the Nikola Badger programme was dependent on an OEM partnership. Nikola will refund all previously submitted order deposits for the Nikola Badger
It also mentioned that the test of the different versions of its hydrogen fuel cells vehicles will begin before the end of 2021.