General Motors

VCs talk SPACs and clean tech investment in wake of Nikola scandal.

Shares of electric truck maker Nikola Corp. sag 20% on the announcement its founder and executive chairman was stepping down, following the fallout from a short seller report questioning the company’s technology claims.

Nikola founder Trevor Milton’s departure from the company “was not a termination,” the company said in a federal securities filing. And while Milton remains a billionaire on paper, he gives up a lot in leaving the startup electric truck maker.

Short seller Hindenburg Research renewed its attack on Nikola after successfully beating down its shares. Nikola clams up as to whether the SEC is investigating.

After delaying a rebuttal to short seller Hindenburg Research’s screed on the electric truck startup’s integrity, Nikola publishes detailed responses to 15 of the accusations Monday, calming jittery investors.

Hindenburg Research, which makes money betting against companies with high stock prices, issued a blistering takedown of Nikola, alleging massive fraud by founder Trevor Milton. Nikola says the report is trying to manipulate its stock.

After creating about 50 millionaires on paper a couple of weeks earlier, Nikola founder Trevor Milton gives another million shares of his personal holdings to 350 employees.

Former General Motors Vice Chairman Steve Girsky, who led startup truck maker Nikola to its public debut in June, earlier suggested to GM that its battery and fuel cell technology could create value for both companies.

In today’s edition of The Daily Dash, General Motors and Nikola Corp. strike a deal for fuel cells; diesel engines are a big winner from the fallout of the Volkswagen diesel emissions scandal; and trucking’s exemption from AB5 could be at risk.

Kevin and I are joined again by Ben Gordon, Managing Partner and CEO, Cambridge Capital and BGSA, to discuss the importance of the Nikola-GM partnership. We also debate whether there will be demand for exoskeletons in warehouses, as well as the role SoftBank is playing in the current tech “bubble.” Thanks as always to our […]

General Motors is putting its battery and fuel cell expertise to work for startup electric truck maker Nikola in exchange for an 11% ownership stake worth $2 billion.

General Motors Co. (NYSE: GM) will become an 11% owner of electric truck startup Nikola Motors Corp. (NASDAQ: NKLA) and build the battery-electric Badger pickup as well as providing the fuel cells for Nikola’s Class 7 and 8 full-size trucks, the companies said Tuesday. GM, which plans its own electric pickup truck, also recently invested […]

Workhorse Group lost a lot of money on paper because new borrowing was tied to its exploding stock price. But it has the cash on hand to build electric trucks into 2022.

Startup electric truck maker Lordstown Motors takes trendy reverse merger route to public ownership, and a $1.6 billion valuation.

Owners of low-priced warrants for new shares and pre-merger discount buyers registered to cash out of electric truck startup Nikola leading to an after hours selloff on Friday, July 17.

Mexican auto factories exported 196,173 vehicles in June, a 38.8% decline compared to the same period in 2019.

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico among toughest countries for foreign investors; Houston CBP seizes animal bones, homemade soap; customs broker expands in Laredo; and GM, union disagree on Texas plant closure.

Nikola won’t have its battery-electric Badger pickup for sale until sometime in 2022, but it’s following rival Tesla in building buzz by taking matchable $5,000 deposits ahead of announcing a manufacturing partner.

Lordstown Motors says first-year production of electric commercial pickup trucks is sold out – if the startup secures the $450 million it needs to retool a former General Motors car plant to make full-size pickups.

Workhorse Group, whose stock price is surging, can begin ramping up production of its electric delivery van now that it has received a final federal safety signoff.