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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

(GM)
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General Motors : Takes 11% Stake In Nikola In Strategic Partnership

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09/08/2020 | 09:08am EDT

By Michael Dabaie

 

Nikola Corp. and General Motors Co. said they are in a strategic partnership to make an electric pickup truck.

Nikola shares were up 29% to $46.03 premarket trade Tuesday.

Nikola designs and makes battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure. The partnership with GM will begin with the Nikola Badger electric pickup truck, the companies said.

As part of the deal, Nikola will use GM's Ultium battery system and Hydrotec fuel cell technology.

GM will engineer and manufacture the Nikola Badger, the companies said.

General Motors will receive 11% ownership of Nikola and right to nominate one director.

Nikola will exchange $2 billion in newly issued common stock for the in-kind services and access to General Motors' parts and components.

Nikola will be responsible for the sales and marketing for the Badger and will retain the Nikola Badger brand. Badger production is expected to start in late 2022.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY -2.74% 35.82 Delayed Quote.-2.13%
NIKOLA CORPORATION -7.23% 20.91 Delayed Quote.102.62%
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Financials (USD)
Sales 2020 119 B - -
Net income 2020 2 127 M - -
Net cash 2020 2 168 M - -
P/E ratio 2020 19,3x
Yield 2020 1,07%
Capitalization 51 262 M 51 262 M -
EV / Sales 2020 0,41x
EV / Sales 2021 0,29x
Nbr of Employees 164 000
Free-Float 92,7%
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Technical analysis trends GENERAL MOTORS COMPANY
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 41,71 $
Last Close Price 35,82 $
Spread / Highest target 81,5%
Spread / Average Target 16,4%
Spread / Lowest Target -24,6%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
John Stapleton Chief Financial Officer
Randall D. Mott Chief Information Officer
Matthew Tsien Chief Technology Officer & Executive VP
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