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GM scales back partnership with electric truck startup Nikola

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  • General Motors Co. scaled back a partnership with clean-energy trucking startup Nikola Corp., scrapping a tentative deal to jointly build an electric pickup truck and replacing it with a non-binding deal to supply hydrogen-fuel technology.
  • Under terms of a non-binding memorandum of understanding announced Monday, GM will allow Nikola to use its hydrogen fuel-cell technology in planned semi trucks.
  • The agreement doesn’t include GM taking an equity stake in Nikola, unlike a deal proposed in September, and also drops plans for GM to manufacture a battery-powered pickup for Nikola called the Badger.

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