In case you’ve been living under a rock, let’s catch you up to speed. Nikola, the truck company has been talking to General Motors, the automaker, to partner up and create a truly electric truck that rivals that of Tesla.
However, there’s been more than one shortage of productivity.
For starters, there’s been a leak that Nikola’s actually been scamming the public by faking the roll that supposedly, was down a hill. It was supposedly autonomous but I guess not. This has since made the past CEO step down for his position. General Motors, in recent years has had so many cars go through recall, that really they have not been able to keep up their promise with General Motors.
But the CEO of Nikola has no reason to worry, apparently.
Their shares have shut down 3.4 percent to $23.30 in New York trading Thursday. The stock is therefore going down more than 70 percent. This is since their sky-high share of $79.73 in early June. And it came shortly after the Nikola has had a public listing by way of reverse merging.
They’ve had talks with oil giant Better Petroleum regarding a set-up of a network of hydrogen-fueling stations across North America. Currently, the status of those discussions are uncertain. Yet, the company has assumptions to announce a partner by the end of 2020.
Russell reaffirms the public of their accordingly swift timeline in such a manner, though, he doesn’t even need to say anything about BP. After all, Nikola’s got a plan to develop hydrogen infrastructure alone, just in case.
And that doesn’t mean no agreements with other technology providers have been made. Because they have! For instance, with Robert Bosch GmbH, Nikola can have an outlet to re-invent and develop fuel-cell technology. It’s because of this that two of the startup’s heavier prototypes use fuel cells, courtesy of Bosch. The larger German partner has agreed to keep on bringing the supply cells for such vehicles of European production.
Nikola is neck-deep on developing a battery-electric semi truck out of Ulm, Germany. This joint venture in particular, is in cahoots with CNH Industrial NV’s Iveco unit.
Ultimately, Nikola has gotten over the break-up. Poor GM.