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General Motors claims $2-billion stake in EV automaker Nikola
Expanding upon its charge into an all-electric future, General Motors has announced its backing of EV automaker Nikola. GM receives a $2-billion equity stake—11 percent ownership of Nikola—in exchange for access to the General’s Ultium and Hydrotec technologies and manufacturing prowess. The news follows last week’s reveal of GM’s “strategic alliance” with Honda, which will bring to market several new all-electric models on a shared architecture.