General Motors is taking an 11 percent stake in startup electric truckmaker Nikola Corp. under a partnership that calls for GM to engineer and assemble Nikola’s first vehicle, the companies said Tuesday.
Under the agreement, which is expected to close this month, GM will build the Nikola Badger, an electric and fuel cell pickup planned for production in late 2022, using GM’s proprietary Ultium batteries.
“This strategic partnership with Nikola, an industry-leading disrupter, continues the broader deployment of General Motors’ all-new Ultium battery and Hydrotec fuel cell systems,” GM CEO Mary Barra said in a joint statement.
