Nikola Motor and GM have announced a strategic partnership under which GM will engineer and manufacture the Nikola Badger pickup truck, which will be built in fuel cell and battery-electric versions. Nikola will use GM’s Ultium battery system and Hydrotec fuel cell technology.
The Badger will still bear the Nikola brand, and Nikola will be responsible for sales and marketing. The Badger is to make its public debut in early December, and production is expected to start in late 2022.
Nikola remains an independent company, but GM will take a $2-billion equity stake, which represents 11 percent ownership of the company, and will have the right to nominate one director.
GM will also be Nikola’s exclusive supplier of fuel cells (except for Europe) for Class 7 and 8 trucks.
“You couldn’t dream of a better partnership than this,” said Nikola founder and Executive Chairman Trevor Milton. “By joining together, we get access to their validated parts for all of our programs, General Motors’ Ultium battery technology and a multi-billion-dollar fuel cell program ready for production. Nikola immediately gets decades of supplier and manufacturing knowledge, validated and tested production-ready EV propulsion, world-class engineering and investor confidence. Most importantly, General Motors has a vested interest to see Nikola succeed.”
“This strategic partnership with Nikola, an industry-leading disrupter, continues the broader deployment of General Motors’ all-new Ultium battery and Hydrotec fuel cell systems,” said GM CEO Mary Barra. “We are growing our presence in multiple high-volume EV segments while building scale to lower battery and fuel cell costs and increase profitability.”
Source: Nikola Motor