News Shares Technology

Nikola Corp Shares Rise Almost 16% By Close


The stock of both Nikola Corp. and General Motors spiked Wednesday on rumors the 2 had finally finalized a deal in which GM would make the Nikola Badger heavy-duty pickup that is electric its Ultium battery technology and be the exclusive supplier of Hydrotec gas cells for the vehicle.

The rumor got started whenever “apparently, some body saw one thing on that associated with (the) original news release,” GM spokesman Jim Cain said within an email towards the Free Press. It absolutely was on the internet site for weeks, Cain stated. He stated, “The transaction has not closed” with Nikola.

Likewise, Nikola spokeswoman Colleen Robar said there clearly was no news to report, and “we lack a schedule for the statement and will touch base whenever it has an contract to announce.”

Exactly what may also be driving the push that is upward GM and Nikola stock is anticipation of news in the future, Robar said.

On, GM CEO Mary Barra will speak at the Barclays 2020 Global Automotive Conference around 1:15 p.m. EST.
Whilst it is confusing whether an statement regarding a Nikola-GM partnership is supposed to be made during those times, GM has said Barra will describe more details about GM’s EV strategy and items that are future the Barclay’s seminar.

GM expects to bring cars being electric market faster than it initially anticipated, the automaker stated. GM’s plan was to bring at the least 20 EVs being brand new market by 2023.

Compared to that end, GM announced on Nov. 9 so it seeks to employ some 3,000 designers, designers and technology specialists between now as well as the end associated with the quarter that is very first year, and a lot of of the individuals can perhaps work remotely, opening the talent pool across the country. The stock of both Nikola Corp. and General Motors spiked today.


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