On Tuesday morning, Normal Motors introduced that it was getting into right into a partnership with Nikola Motor Company, the hydrogen gas cell electrical automobile (FCEV) startup. For its half, Nikola is bringing $2 billion to the desk within the type of newly issued inventory, an 11 % share within the firm. In return, it seems GM will do just about the whole lot else—engineering, homologating, validating, and manufacturing battery EV and FCEV variants of the Nikola Badger pickup truck.
“This strategic partnership with Nikola, an business main disrupter, continues the broader deployment of Normal Motors’ all-new Ultium battery and Hydrotec gas cell programs. We’re rising our presence in a number of high-volume EV segments whereas constructing scale to decrease battery and gas cell prices and enhance profitability,” stated Normal Motors chairperson and CEO Mary Barra in an announcement.
“Nikola is likely one of the most modern corporations on this planet. Normal Motors is likely one of the prime engineering and manufacturing corporations on this planet. You couldn’t dream of a greater partnership than this,” stated Trevor Milton, founder and CEO of Nikola.
The deal extends past the Badger pickup, which is tentatively scheduled to enter manufacturing in 2022. Nikola will use GM know-how all through its packages, together with GM’s new Ultium lithium-ion battery platform.
Nikola will even use GM’s Hydrotec hydrogen fuel cells in its class 7 and class 8 trucks, which ought to elevate questions as to what precisely drove the startup’s valuation to such heights, provided that it evidently wasn’t any modern new FCEV know-how. (Nikola has additionally used a whole lot of know-how—including electric motors—from Bosch, an early investor within the firm.)
That is the second main EV partnership that GM has revealed not too long ago. Initially of September, it introduced that it was getting into right into a North American alliance with Honda, which can embrace growing a pair of recent Honda-badged BEVs that may use GM’s new BEV3 platform and Ultium batteries.