Nikola to team up with General Motors to bring a electric hydrogen pick-up truck to the market within the next couple of years to rival Tesla.
The Arizona based company is already underway with development of the truck and has been for quite some time now.
The deal with General Motors though has contributed $2bn to the start-up fund and will make the development a less insurmountable feat.
At present all Tesla vehicles are electric, however Nikola has taken a step further with a hydrogen gas power unit.
However, the Tesla Cybertruck isn’t the only competitor with Ford also unveiling plans for a electric pick-up.
General Motors has received a 11% shareholding in Nikola in return for the funding.
We are expecting the official designs of the badger to be unveiled later this year in December, however production is not due till 2022.
GM has also opened discussions with Nikola regarding the hydrogen fuel cells for the other vehicles planned in the fleet.
The value of electric vehicle companies has skyrocketed in the past couple of years including the announcement of Tesla becoming the highest value car manufacturer in the world.
Nikola has also become one of the worlds most valuable car manufacturers despite never having sold a vehicle.
