General Motors (NYSE: GM) is passing on taking an equity stake in startup Nikola Corp. (NASDAQ: NKLA), reducing a wide-ranging manufacturing partnership and supply deal announced in September to possibly providing fuel cells in the future.
GM CEO Mary Barra and former Nikola Executive Chairman Trevor Milton excitedly described the $2 billion tie-up on Sept. 8. GM would get an 11% ownership in Nikola in exchange for manufacturing the Nikola Badger electric pickup truck. Providing advanced battery...
https://www.freightwaves.com/news/gm-walks-on-equity-stake-in-nikola-may-supply-fuel-cells