General Motors and Nikola have officially partnered up for the production of Nikola’s Badger. The electric pickup truck will also use GM’s Ultium batteries. Furthermore, the Nikola One, Two, and Tre trucks will come with GM’S Hydrotec fuel cell technology everywhere except Europe.
Aside from the agreement on production, GM will also become one of Nikola’s investors. GM will receive an 11% stake, receiving $2 billion in equity, as a payment for “in-kind contributions.” GM will also get the right to nominate one director to Nikola’s board. Services for both the pure electric and the FCEV versions of the Badger include the engineering, validation, and homologation.
Mary Barra, GM’s CEO, said about the partnership “This strategic partnership with Nikola, an industry-leading disrupter, continues the broader deployment of General Motors’ all-new Ultium battery and Hydrotec fuel cell systems. We are growing our presence in multiple high-volume EV segments while building scale to lower battery and fuel cell costs and increase profitability. In addition, applying General Motors’ electrified technology solutions to the heavy-duty class of commercial vehicles is another important step in fulfilling our vision of a zero-emissions future.”
Nikola was originally developing the Badger on its own. However, according to Nikola CEO Trevor Milton, the company decided to rely on GM’s engineering instead after speaking with them. Deliveries of the Badger are expected to start by the end of 2022.