EV startup Nikola also gets through without a deal with General Motors, CEO Mark Russell said in an interview with Automotive News. Both parties are currently discussing a strategic partnership. Incidentally, the electric pick-up Badger is on the chopping block.
Last month, Nikola and General Motors announced that both parties wanted to work together. Those talks are still going on, but Russell seems to want to emphasize that Nikola also stands without a deal. “We have a basic plan that we can implement ourselves,” he says. “If we have a partner, it mainly ensures that the risk remains low and we can go faster.” Furthermore, the CEO says that Nikola has proven to be a good partner over the years. It is not clear what this should show. After the fuss around Nikola, GM would be out to negotiate a higher stake in the company. It is quite possible that the deal will fail.
By December 3, Nikola and GM must be out. If not, Nikola will drop the Badger, according to Russell. “The Badger is part of our discussions with GM. We have always been clear that we are not going to build the Badger without a partner.” The unveiling of the electric pick-up was recently postponed. According to Nikola, this is due to the corona virus, but there are also other rumors. Research firm Hindenburg Research wrote a report which showed that Nikola does not have the knowledge with which to show off. The start-up has always denied these allegations, but founder Trevor Milton resigned after publication.
In addition to the Badger, Nikola has plans to build a fuel cell truck together with Iveco. In addition, the company wants to build a network of hydrogen filling stations in America. It has remained on paper with plans, because Nikola has not yet presented any production models. The stock price has now fallen to $ 23 per share, compared to more than $ 79 in June.