Nikola shares plunge over 21% at open

Monday, 30. November 2020 15:48

Shares of the American electric truck maker Nikola Corporation plunged over 20% on Monday after the company confirmed that General Motors Corporation said it will supply fuel cells to Nikola for commercial trucks but will not take an equity stake in the startup under a stripped-down agreement.

In September, both parties confirmed a $2 billion deal that gave GM an 11% stake in Nikola for supplying battery and fuel cell technologies as well as making the truck.

Nikola's shares were down by 20.46% to $22.14 at 9:46 am ET.

Related Links: General Motors CompanyNikola Corporation
Breaking the News / TF