[EJD1984]

GM cancels deal to build Nikola (NKLA) electric-hydrogen pickup truck after many controversies
Electrek
Fred Lambert
Nov. 30th 2020

GM has dropped its plan to build the Nikola (NKLA) Badger electric/fuel cell pickup truck and take a stake in the controversial company.

However, GM will still supply Nikola with fuel cell hydrogen technology for its semi trucks.

As we have been reporting over the last few months, Nikola is currently in hot water after a report from Hindenburg Research made several allegations exposing deception by Nikola and its founder Trevor Milton, including several claims corroborated in previous reports from Electrek and Bloomberg.

Nikola issued a response to those claims, but as we reported, the response lacked any rebuttal of the main allegations of deception by the company and its founder, Milton.

For the most damning one, the claim that it faked the first video of its hydrogen truck driving, the company even admitted to it without issuing an apology and, instead, claimed its deception was fine due to a technicality.

*Full Article at Link

 

[BlackGTP]

Not surprising, but sad nonetheless.

 

[Ed753]

Stock Watch: (11/30/2020 @ 9:40am)

GM $45.00
TSLA $22.38

And some fool bought my NKLA shares premarket at $36.50!

:lmao:

 

[mbukukanyau]

Well, poor Nikola

 

[bballr4567]

That's gotta sting. Milton is still MIA. Anyone who didn't see this coming is pretty foolish honestly. Why would GM continue to build the Badger when it's got it's own EV trucks to roll out too?

 

[1958carnut]

I'm surprised that they are not cutting everything off and running, instead going only half way in "coming clean" of this sham.

 

[mbukukanyau]

Well, poor Nikola, Glad, I didn’t pick up that stock

 

[Ed753]

That's gotta sting. Milton is still MIA. Anyone who didn't see this coming is pretty foolish honestly. Why would GM continue to build the Badger when it's got it's own EV trucks to roll out too?

GM did it because $NKLA went from $10/share to $80/share in about months; GM the company that has been stuck in the 30's for almost a decade.........

 

[Ed753]

I'm old enough to remember (less than 3 months ago) that things like....................



"Oh course GM vetted the company and know what they are getting into, GM wouldn't just jump into a bad-deal"

"GM looks to be well positioned to be a leader, their own BEV and hydrogen tech buttressed by Honda's hydrogen tech and couple that with what Nikola brings to the table"

"Brilliant move by Ms Barra. GM always had and has the technology, the ability to produce innovative systems and products. GM in my opinion needed to be seen by wall street as the “hot” new wonder."

"Of course GM knows what it is doing, GM never gets into bad-deals"

(but I think that last one might have been sarcasms)

 

[1958carnut]

Well, poor Nikola, Glad, I didn’t pick up that stock

I see what you did there

 

[bballr4567]

I'm old enough to remember (less than 3 months ago) that things like....................



"Oh course GM vetted the company and know what they are getting into, GM wouldn't just jump into a bad-deal"

"GM looks to be well positioned to be a leader, their own BEV and hydrogen tech buttressed by Honda's hydrogen tech and couple that with what Nikola brings to the table"

"Brilliant move by Ms Barra. GM always had and has the technology, the ability to produce innovative systems and products. GM in my opinion needed to be seen by wall street as the “hot” new wonder."

"Of course GM knows what it is doing, GM never gets into bad-deals"

(but I think that last one might have been sarcasms)

They never pick the right partner it seems but I'm really glad they fully vetted Nikola. :hyper::hyper:

 

[JBsZ06]

Todays recommendation of all auto stocks to buy is invest in GM.

Structurally GM is best poised to lead the auto sector.

Cruise automation, its ultium battery technology. Its prodiction and distribution capability and on and on.

No other automaker including tesla is as ready and capable for all aspects of this ev revolution. I think its stock at 41 dollars a share is 25 percent off recent previous lows.

. Mary Barras leadership has been impressive. JMO

 

[sdotjeezy]

Todays recommendation of all auto stocks to buy is invest in GM.

Structurally GM is best poised to lead the auto sector.

Cruise automation, its ultium battery technology. Its prodiction and distribution capability and on and on.

No other automaker including tesla is as ready and capable for all aspects of this ev revolution. I think its stock at 41 dollars a share is 25 percent off recent previous lows.

. Mary Barras leadership has been impressive. JMO

From a Wall St standpoint she's been amazing at keeping investors happy, but true automotive enthusiasts have been left out in the cold sans the C8.

 

[Mr.Buttons]

Todays recommendation of all auto stocks to buy is invest in GM.

Structurally GM is best poised to lead the auto sector.

Cruise automation, its ultium battery technology. Its prodiction and distribution capability and on and on.

No other automaker including tesla is as ready and capable for all aspects of this ev revolution. I think its stock at 41 dollars a share is 25 percent off recent previous lows.

. Mary Barras leadership has been impressive. JMO

But can Mary twerk?

 

[Mr.Buttons]

From a Wall St standpoint she's been amazing at keeping investors happy, but true automotive enthusiasts have been left out in the cold sans the C8.

Have a Members Only jacket to keep you warm!.

 

[sdotjeezy]

I'm old enough to remember (less than 3 months ago) that things like....................



"Oh course GM vetted the company and know what they are getting into, GM wouldn't just jump into a bad-deal"

"GM looks to be well positioned to be a leader, their own BEV and hydrogen tech buttressed by Honda's hydrogen tech and couple that with what Nikola brings to the table"

"Brilliant move by Ms Barra. GM always had and has the technology, the ability to produce innovative systems and products. GM in my opinion needed to be seen by wall street as the “hot” new wonder."

"Of course GM knows what it is doing, GM never gets into bad-deals"

(but I think that last one might have been sarcasms)

My personal fav was:

"If I were GM, I'd buy even more Nikola Stock"...or something like

 

[mbukukanyau]

Nikola stock value wasn’t ever in automobile technology, but in how they envisioned transforming the freight haul marketplace, first with drivers, then with automated hauling, this is where true value is in Nikola, if the company can survive the visionaries folly and bring the model to fruition.

Spend a little time and you realize if it can be brought to fruition, it’s totally disruptive to the current status quo in the freight hauling business.

At least that was my understanding.

 

[Ed753]

My personal fav was:

"If I were GM, I'd buy even more Nikola Stock"...or something like

:fall:

Nikola stock value wasn’t ever in automobile technology, but in how they envisioned transforming the freight haul marketplace, first with drivers, then with automated hauling, this is where true value is in Nikola, if the company can survive the visionaries folly and bring the model to fruition.

Spend a little time and you realize if it can be brought to fruition, it’s totally disruptive to the current status quo in the freight hauling business.

At least that was my understanding.

Agree; "all they have to do" is develop the technology and sell it!

 

[BlackGTP]

I'm old enough to remember (less than 3 months ago) that things like....................



"Oh course GM vetted the company and know what they are getting into, GM wouldn't just jump into a bad-deal"

"GM looks to be well positioned to be a leader, their own BEV and hydrogen tech buttressed by Honda's hydrogen tech and couple that with what Nikola brings to the table"

"Brilliant move by Ms Barra. GM always had and has the technology, the ability to produce innovative systems and products. GM in my opinion needed to be seen by wall street as the “hot” new wonder."

"Of course GM knows what it is doing, GM never gets into bad-deals"

(but I think that last one might have been sarcasms)

But, unlike GM's past blunders, this one didn't cost them anything as they hadn't put up any money yet if my memory is correct. They had a seemingly risk-free agreement. Old GM would've bought the whole company at a premium and been left with a huge write-off.

However, it does make GM look pretty bad and their vetting process really called into question.

 

[BORG]

GM aligning themselves with Nikola severely reduced my confidence in the decision making at GM.