General Motors announced its second major electric vehicle partnership in less than a week on Tuesday, this time a $2 billion deal with startup Nikola. In exchange for the 10-year deal, GM will get $2 billion worth of Nikola's newly-issued common stock that will come three increments through 2025. GM has been under pressure from Wall Street to more quickly monetize its electric vehicle technology, perhaps spinning off its EV unit as a separate company. She said the electric vehicle platform and batteries are attractive to other companies, which is a huge opportunity for GM. Electric Hummer coming out next yearGM has its own battery electric truck, a GMC Hummer, due to go on sale a year ahead of the Badger.

Source: CBC News September 08, 2020 18:37 UTC