This family of electric motors will drive GM’s new electric vehicles

GM will have 22 new EVs on sale by 2023, and they'll all use these motors.

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[Meldreth]

Imagine getting a paper tiger of a company to give $2billion in stock and up to $700 million to pay for your R&D and production of a product you were going to do anyway. Well done GM.

Imagine going from a vaporware truck that you roll down a hill to suddenly having viable products in exchange for your worthless stock and some cash that you bilked out of investors and pre-orders?

The deal was a win for GM, but also a lifeline for Nikola. It would have been a Theranos-like implosion for them otherwise.

But now Nikola will have to explain why all the ground breaking technology they promised investors, and that would make them unique and ahead of anyone else, is being replaced by someone else's off the shelf parts.
No incredibly cheap hydrogen, no self-sourced CNG, no batteries that pack 50% more charge in the same package - just a rebadged GM truck. Or is it a Bosch truck? What is happening there?

 

[Meldreth]

Imagine getting a paper tiger of a company to give $2billion in stock and up to $700 million to pay for your R&D and production of a product you were going to do anyway. Well done GM.

Except of course that stock isn't worth close to $2 billion any more and they haven't received any of that $700 million.

'But', I hear you say 'the can sue Nikola for that money' - good luck finding it even after spending a fortune on the case.

That makes it look less a great move - don't count your chickens etc...

The stock has been staying pretty steady. But if you search for Nikola on the Wall Street Journal, you're going to get a list of newly initiated class action suits. Milton has been buying shares, but I don't think that can account for the volume of stock changing hands.
I think the smart are selling to the stupid, and then it's going to tank.