Nikola Motors has announced that it has entered into a close partnership with the American carmaker GM. Among other things, it is to produce the Badger hydrogen electric car for it.
Trevor Milton, founder of Nikola Motors, has said several times that they have been developing new technologies in the field of batteries and hydrogen cells for many years. However, the current partnership with GM shows that they actually have nothing at all – except perhaps a few design-friendly prototypes – and the value of the company is really close to zero in real terms.
photo: Nikola Motors
American start-up Nikola Motors, who recently successfully entered the stock market, continues his strange campaign. It started in June collect a deposit of $ 5000 for the upcoming hydrogen car / battery electric car (both variants are said to be available), a pick-up truck named Badger.
It allegedly offers a range of up to 1000 km, acceleration 0-100 km / h in under 3 seconds and lots of other tweaks. But it turns out that Nikola never planned to make the car herself.
General Motors (GM) has currently become the main development and production partner. The two companies have entered into a broad partnership that affects not only Badger, but also the planned Nikola Tre, Nikola One, Nikola Two, and NZT models.
Given that Tesla has clearly shown over the past ten years that how complex and extremely time-consuming and costly it is to bring into production a new car powered purely on electricity, let alone five completely new models using hydrogen propulsion, Nikola ‘s entire efforts and the current partnership with GM are extremely suspicious.
GM will probably have to prepare for significant accounting depreciation because it is allegedly part of a partnership will receive a $ 2 billion stake in Nikola Motors At the same time, GM undertakes to design, validate, homologate and build Nikola Badger in the hydrogen and battery variants.
Badger is due to go into production in 2022. In addition, General Motors will become the exclusive supplier of fuel cells for the upcoming Nikola trucks.
If you find it all too high, you are not alone. It follows de facto that Nikola doesn’t really have anything at all, or what he claims he has been developing for years (hydrogen fuel cells).
Its market valuation, and thus GM’s expectation that the partnership will gain something, is also completely illogical. Even the press release literally says that “Nikola will be responsible for the sales and marketing of Badger and will retain the Nikola Badger brand”.
So to answer the question in the title: yes, it’s a coincidence. GM’s partnership and an empty mailbox named Nikola undoubtedly has little to do with the stock slump. Tesla’s share price has risen to dizzying heights in the last year, driven mainly by stock market speculation for further growth.
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