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GM walks away from stake in electric vehicle maker Nikola

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NEW YORK – General Motors will not take an initial stake in the electric vehicle company Nikola, which announced Monday that it would scuttle on of its marquee vehicles, an electric and hydrogen-powered pickup that was to be called the Badger.

Shares of Nikola plunged 21% at the opening bell. Nikola on Monday released updated terms between the companies for a supply agreement related to GM's fuel-cell system , replacing an agreement signed in September.

That deal would have given GM an 11% stake in Nikola in exchange for engineering and building Nikola’s Badger hydrogen fuel cell and electric pickup truck.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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