November 1, 2020

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General Motors will partner with the automobile manufacturer Nikola

General Motors will partner with the automobile manufacturer Nikola

Automaker General Motors (GM)

Photo: AFP

The automaker General Motors (GM) will work with Nikola, which among other things makes electric cars. GM will invest $ 2 billion in the company and acquire an 11 percent stake.

Both American companies will jointly manufacture the fully electric Nikola Badger. The pickup was unveiled in February and production is expected to begin at GM’s plants in late 2022.

The auto giant will, among other things, build the electric batteries for the cars and thus save Nikola 5 billion dollars within ten years. The deal is valued at more than $ 4 billion in benefits for GM. The agreement is expected to be concluded by the end of September.