General Motors to acquire an 11% stake in Nikola.

General Motors, a vehicle manufacturer, agreed to acquire an 11% stake in Nikola, a designer and manufacturer of electric components. Nikola will exchange $2bn in newly issued common stock for the in-kind services and access to General Motors’ global safety-tested and validated parts and components. The transaction is subject to customary antitrust regulatory approval and closing conditions. “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. We are growing our presence in multiple high-volume EV segments while building scale to lower battery and fuel cell costs and increase profitability. In addition, 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,” Mary Barra, General Motors Chairman and CEO.