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GM Takes 11% Stake in Nikola Motors

Discussion in 'Auto News & Rumors' started by 77 Monaco Brougham, Sep 8, 2020.

  1. 77 Monaco Brougham

    77 Monaco Brougham Well-Known Member

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    If someone had asked me yesterday which OEM I thought most likely to manufacture the Nikola Badger...I would have bet everything (including my immortal soul)...that it would be FCA...Especially since EXOR sister company IVECO is already slated to manufacture the Tre Semi for Europe.

    At least to me, anyway...this is a real curve-ball:


    View: https://www.youtube.com/watch?v=OWtqZ9SBkU0
     
    tabutler and Shane Estabrooks like this.
  2. 77 Monaco Brougham

    77 Monaco Brougham Well-Known Member

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    My middle-aged mind must be losing a little off it's fast-ball. I don't know why I didn't remember this when I posted yesterday:

    In a manner of speaking...GM and EXOR are now "sleeping in the same bed together".

    Back in 2019, Nikola gave IVECO a 7.11% stake in the company for various and sundry 'in kind services' related to the Tre Semi for Europe.

    Now...Nikola gives GM an 11% stake in the company...again...for various and sundry 'in kind' services.

    Talk about strange bed-fellows.:eek::D
     
  3. Stéphane Dumas

    Stéphane Dumas Well-Known Member

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    First, GM came with Honda, then Nikola,... did we underestimated Mary Barra or we entered in The Twilight Zone?
     
  4. 77 Monaco Brougham

    77 Monaco Brougham Well-Known Member

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    I won't speak for anyone else, but for me...I think I underestimated Ms. Barra by a good amount....especially the way GM basically mopped the floor with Nikola Motors.

    The way I understand the deal...GM pays exactly $ 0.00 and renders 'in-kind services' to Nikola. Not only is GM getting 11% of Nikola, but also, GM won the right to add one member of its own to the Nikola board. This entire affair has just about ZERO risk for GM!

    Looking back...IVECO should have pushed to get a seat on Nikola's board as well.;)


    P.S. There's also more than a little bit of 'Twilight Zone' going on too!:D
     
    #4 77 Monaco Brougham, Sep 11, 2020
    Last edited: Sep 11, 2020
    Stéphane Dumas likes this.

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