Nikola Announces Much Smaller Deal With General Motors as Lockup Expiration Looms

Electric-truck start-up Nikola (NASDAQ: NKLA) announced Monday that it finally has reached a deal with General Motors (NYSE: GM). Of note, the deal doesn't include Nikola's Badger pickup, which will not be built, Nikola said. In a statement, Nikola said that the companies have signed a "non-binding Memorandum of Understanding" that outlines a deal in which Nikola would buy hydrogen fuel cells from GM for use in its electric heavy trucks.