GM Reworks Deal With Nikola After Scandal - Make Double Down With A Higher Stake

General Motors is considering revisions to its deal with embattled Nikola Corp., according to people familiar with the discussions, and may seek a higher stake in the startup now that its valuation has fallen after allegations of deception.

GM tentatively agreed to take an 11 percent stake in Nikola as part of a cash-free deal made public last month. The Detroit automaker would supply hydrogen fuel-cell technology to its junior partner and manufacture a new battery-powered pickup for it called the Badger. Talks to finalize the agreement are ongoing ahead of a Dec. 3 deadline.

CANADIANCOMMENTS - 10/2/2020 1:28:26 PM

+2 Boost

That might be insane. Not sure what IP is there to bank on in the future.

MDarringer - 10/2/2020 8:22:20 PM

0 Boost

Moron Mary sinking the company deeper.