General Motors Co. (NYSE: GM) is taking an 11% equity stake in startup electric truck maker Nikola Corp. (NASDAQ: NKLA), supplying advanced batteries and fuel cells for the company’s Class 7 and 8 trucks.
GM also will produce battery- and hydrogen-powered variants of Nikola’s Badger full-size electric pickup.
The announcement from the two companies Tuesday goes well beyond Nikola’s promise to name a manufacturing partner for the Badger before the end of the year. GM will make the Badger on its...
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