Nikola, GM stock prices spike on anticipation of partnership news
The stock of both Nikola Corp. and General Motors spiked Wednesday on rumours the two had finally signed a deal where GM would make the Nikola Badger heavy-duty electric pickup using its Ultium battery technology and be the exclusive supplier of Hydrotec fuel cells for the truck.
In return, GM would get an equity stake in Nikola and other benefits of scale to save it billions in costs.
But both GM and Nikola spokespeople say there is nothing new to report about a pending deal.
SUPPLIED
The deal for GM to build the Nikola Badger seems to be progressing, but neither company will confirm it yet.
The rumour got started when "apparently, someone saw something on GM.com that linked to (the) original press release," GM spokesman Jim Cain said in an email to the Detroit Free Press. It had been on the site for weeks, Cain said. He said, "The transaction has not closed" with Nikola.
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