Nikola Surges As GM Takes Stake In Hydrogen Truckmaker, Partners On Electric Pickup

The largest automaker is partnering with the hydrogen truck startup to produce Nikola's electric pickup and will provide battery and fuel cell technology. GM is also taking an 11% stake in Nikola.

Curated via Twitter from Forbes Tech’s twitter account….

Milton said on the call that Nikola will need “tens of thousands” of units of production per year for Badger, without elaborating. “We are growing our presence in multiple high-volume EV segments while building scale to lower battery and fuel cell costs and increase profitability,” GM chairman and CEO Mary Barra said, who called Nikola “an industry leading disrupter. “Applying General Motors’ electrified technology solutions to the heavy-duty class of commercial vehicles is another important step in fulfilling our vision of a zero-emissions future,” she said.

Unlike Elon Musk’s Tesla TSLA , which attempts to keep its tech and production development inhouse, Nikola founder Trevor Milton has pursued broad partnerships to get up and running, with companies including Bosch, commercial vehicle maker Iveco, Meritor, Nel Hydrogen and South Korean solar panel maker Hanwha.

General Motor GM s and Nikola are forming a broad alliance on advanced vehicle technology, with the largest U. S. automaker partnering with the hydrogen truck startup to produce its electric pickup and providing battery and fuel cell.

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