General Motors and Nikola announced yesterday that the two companies have teamed up to produce the much anticipated electric pickup, the Badger. GM will also engineer all the different variants of the Badger including the all-electric and hydrogen fuel-cell powertrains.
In terms of what GM will be getting out of the deal, the auto-manufacturer will receive a $2 billion stake in Nikola, or 11 percent ownership of the company. Along with receiving a $2 billion stake in Nikola, GM will receive payment to build the Badger, supply batteries, and commercialise fuel-cell tech for the semi-truck that Nikola has planned.
“Nikola is one of the most innovative companies in the world. General Motors is one of the top engineering and manufacturing companies in the world. You couldn’t dream of a better partnership than this,” said Nikola Founder and Executive Chairman Trevor Milton.
This deal is set to make GM quite a bit of money, but it will also save Nikola financially. As a result of this partnership, Nikola will save more than $4 billion in battery and powertrain costs over the course of ten years, and over $1 billion in engineering and validation costs.
In terms of the Badger itself, the electric fuel-cell hybrid motor will reportedly have a maximum range of 965 kilometres while the all-electric version will have a range of 482 kilometres. It will also be able to tow a payload of up to 3628 kg and accelerate from 0 to 100km/h in just 2,9 seconds.
The Badger is expected to go into production towards the end of 2022.
Image credit: Twitter/@nikolamotor