GM Joins the Stock Market’s Electric-Vehicle Party

You wouldn’t know it from its share price, but General Motors has done everything it can to please Wall Street in recent years. Its latest offering: a deal with stock-market sensation Nikola.

The transaction announced by the companies on Tuesday morning, which involves no transfer of money, is elegantly structured to meet strategic objectives on both sides. GM gets an 11% stake in a potential industry disrupter and the promise of higher manufacturing volumes for its new all-electric battery platform, Ultium. Nikola gets to...

StephenWilmot Very interesting to see GM making moves like this. I've often been confused at their decades of seemingly deliberate under achievement. Hope they can come out as a leader in electric car manufacturing.

StephenWilmot 😂😆

StephenWilmot Say what? Still waiting for the next stimulus check so I can get a water pump for my Lincoln. Ain't she a beauty?

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Nikola's GM deal shows a new way to get electric vehicles to market - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Nikola is just a brand name that GM is buying because the GM brand is dead. Nikola won't design or make any cars. GM will do it all and get bailed out by the govt when it all implodes.
Source: BusinessInsider - 🏆 729. / 51 Read more »