Setback for Tesla rival: General Motors says cooperation with Nikola

allegations of fraud have held America's largest car company, General Motors, apparently, of a closer link with the young electric-vehicle company Nikola. To p

Setback for Tesla rival: General Motors says cooperation with Nikola

allegations of fraud have held America's largest car company, General Motors, apparently, of a closer link with the young electric-vehicle company Nikola. To participate, instead of the company, as announced in September, will General Motors cars only possibilities for cooperation in the furnishing of Nikola-load with a fuel cell System to the test. The informed Nikola. The non-binding Declaration of intent replaces the on 8. September public announcement of a strategic collaboration between the two companies.

Winand von Petersdorff-Campen

Economics correspondent in Washington.

F. A. Z.

it was next to a capital contribution in the amount of eleven percent of the Nikola-share capital the joint development of an electric Pick-up Trucks by the name of Badger. So Nikola would be entered in direct competition to Tesla. The vehicle was, at the same time important building block for the electrical strategy of General Motors. Tesla is currently developing the so-called cyber truck. Nikola has now announced that all of their inputs from General Motors to reimburse.

The Nikola-share lost after the announcement of the message temporarily 24 percent of their value. Nikola was advised in the fall after allegations of fraud for allegedly misleading investors under pressure. The CEO and founder Trevor Milton acknowledged items of his leadership after the financial investor Hindenburg Research stated in a report that the company and its leadership have exaggerated the degree of maturity of their technological developments. Milton had attracted investors with the Vision to revolutionize the entire market for trucks with vehicles that are to be operated with a battery and hydrogen technology.

Updated Date: 30 November 2020, 22:19

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