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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

(GM)
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General Motors : Takes Stake in Electric-Vehicle Company Nikola

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09/08/2020 | 08:49am EDT

By Michael Dabaie

General Motors Co. has entered into a strategic partnership with electric-vehicle company Nikola Corp. to make a pickup truck.

As part of the deal, General Motors will receive 11% ownership of Nikola and the right to nominate one director.

Shares of Nikola rose roughly 31% in premarket trade Tuesday. Shares of GM rose 7.2%.

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.

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.

Last month, Nikola said it secured an order for 2,500 electric garbage trucks from refuse giant Republic Services Inc.

Last year, Ford Motor Co. took a $500 million stake in electric-truck startup Rivian Automotive.

 


Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY -1.55% 36.83 Delayed Quote.0.63%
NIKOLA CORPORATION -0.79% 22.54 Delayed Quote.118.41%
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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 19,8x
Yield 2020 1,04%
Capitalization 52 707 M 52 707 M -
EV / Sales 2020 0,42x
EV / Sales 2021 0,30x
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
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 41,71 $
Last Close Price 36,83 $
Spread / Highest target 76,5%
Spread / Average Target 13,2%
Spread / Lowest Target -26,7%
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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