| From: kidl | 9/28/2020 8:49:09 AM | | | | | | Nikola One design said to have originated from Rimac designer
Sep. 28, 2020 8:04 AM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor
Financial Times reports Nikola (NASDAQ: NKLA) founder Trevor Milton purchased the original design for the company's flagship truck from Croatia-based Rimac Automobili.
The development is interesting because the Nikola One hydrogen-powered truck is at the center of a design patent infringements lawsuit that Nikola filed against Tesla in 2018.
Milton is reported to have purchased the designs of the vehicle for several thousand dollars from Rimac Automobili designer Adriano Mudri in 2015. In a response, the company says it is commonplace to license third-party designs during the early part of vehicle development and Mudri's designs are materially different from the design invented by Nikola for the Nikola One.
Shares of Nikola are up 3.39% premarket to $20.12. |
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| From: kidl | 9/29/2020 8:49:03 AM | | | | | | Will GM's deal with Nikola still close tomorrow?
Sep. 29, 2020 4:44 AM ET|About: Nikola Corporation (NKLA)|By: Yoel Minkoff, SA News Editor
"Our transaction with Nikola (NASDAQ: NKLA) has not closed," a GM spokesperson said Monday in an email. "We are continuing our discussions with Nikola and will provide further updates when appropriate or required." The deal was expected to close by September 30.
Compare that to a statement from GM last week, which said it remained committed to the agreement as outlined on Sept. 8. The deal calls for GM to build the Nikola Badger electric pickup with its proprietary Ultium batteries and provide fuel cells for the Badger and Nikola's semitrucks.
"Even if Nikola completely imploded and went out of business tomorrow, GM financially would not be hurt by that," said David Whiston, senior equity analyst for Morningstar. "If Nikola is not a fraud, the long-term upside option value of the deal is still there for GM."
Earlier this month, GM CEO Mary Barra defended the company's $2B, non-cash deal with Nikola, saying it conducted "appropriate diligence" before announcing the agreement.
Compounding the recent troubles, two women have filed sexual abuse complaints against Nikola founder Trevor Milton that stretch back more than 15 years ago, though Milton has "strongly denied" the allegations.
NKLA -3.1% premarket to $18.70/share.
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| From: kidl | 9/30/2020 8:30:03 AM | | | | | | GM won't finalize deal with Nikola tomorrow - CNBC
Sep. 29, 2020 5:43 PM ET|About: General Motors Company (GM)|By: Jason Aycock, SA News Editor
General Motors (NYSE: GM) will not finalize its deal with Nikola (NASDAQ: NKLA) by tomorrow, CNBC reports.
The two were trying to finish the deal by month-end after announcing it on Sept. 8, but discussions are ongoing, according to the report.
That means a deal could still come within days, or fall apart entirely. |
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| From: roto | 10/15/2020 10:30:27 AM | | | | | | finance.yahoo.com
Here’s Why Worm Capital is Avoiding Nikola Corp (NKLA) Stock
damning in a big way.
it will be interesting to see how GM handles this. maybe they should tank their stupid
looking Hummer and go with the Badger. |
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| From: kidl | 10/19/2020 9:03:08 AM | | | | | | Nikola defended at JPMorgan with restructured deal with GM called probable
Oct. 19, 2020 8:12 AM ET|About: Nikola Corporation (NKLA)|By: Clark Schultz, SA News Editor
There is still hope for a Nikola (NASDAQ: NKLA) partnership with General Motors (NYSE: GM), according to JPMorgan.
"We believe Nikola and General Motors are still likely to enter into a strategic partnership by December 3rd. Nikola needs access to GM's supply-chain, engineering resource, the Ultium battery and Hydrotec fuel cells to de-risk the Class 8 truck initiative. GM needs to realize a return on billions of dollars of investment in Hydrogen fuel cells, and Nikola might be the best available option. The Badger initiative might be of more interest to GM than the post-Milton Nikola, for whom it seems to be a distraction," notes analyst Paul Coster.
Coster also observes that the Nikola partnership is already promoted by GM as one of six initiatives that constitute the automaker's EV Ecosystem and it is the only named initiative to exploit GM's Hydrotec fuel cell technology.
A probable scenario seen by JP for Nikola is that the deal closes with the original terms or it is re-engineered for a narrower scope that eliminates or downsizes the Badger initiative.
JP keeps an Overweight rating on Nikola.
Last Friday: Nikola -15% on CEO's 'go it alone' comments. |
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