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Bryan
Hagerty Employee

GM renegotiates Nikola deal, erases equity stake and EV pickup production plans

General Motors is backing down from its blockbuster deal with EV startup Nikola. The $2 billion equity-stake deal announced in September, which would give Nikola access to GM’s manufacturing, Ultium battery, and Hydrotec technologies, will be significantly scaled back following renegotiations. Under the new terms of a non-binding agreement, GM’s previous 11-percent stake and role in producing Nikola’s EV pickup have been scrapped.

 

Read the full news on Hagerty.com:

https://www.hagerty.com/media/news/gm-renegotiates-nikola-deal-erases-equity-stake-and-ev-pickup-pro...

 

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