Nikola and General Motors have announced a strategic partnership. Nikola designs and manufactures electric components, drivetrains and vehicles including the Nikola One and Nikola Two electric semi-
The terms of the agreement are as follows:
> General Motors will gain 11 percent ownership of Nikola worth $2 billion. GM will also have right to nominate one director.
> General Motors will engineer, homologate (approve for sake), validate and manufacture the Nikola Badger battery electric and fuel cell versions. But Nikola will be responsible for the sales and marketing for the Badger and will retain the Nikola Badger brand.
> Nikola will utilize General Motors’ Ultium battery system known for the large-format, pouch-style cells can be stacked vertically or horizontally inside the battery pack. They have range from 50 to 200 kWh, enabling range up to 400 miles or more on a full charge.
> General Motors will be exclusive supplier of fuel cells globally (outside of Europe) to Nikola for Class 7/8 trucks that will utilize Hydrotec fuel cell system which according to GM are more efficient than gas or diesel.
According to Nikola, it anticipates saving over $4 billion in battery and powertrain costs over 10 years and over $1 billion in engineering and validation costs through this agreement.
