General Motors and Nikola Corporation have announced a revised agreement that eliminates an equity stake in the fledgling startup as well as putting a halt to developing the Badger electric pickup. Nikola said on November 30th, it would refund all previously submitted order deposits for the Badger as the rollout was dependent on a manufacturer partnership. Nikola officials said the Badger was “paused indefinitely.”  Shares in both companies moved downward on the announcement. Under the new deal, GM will supply its fuel-cell system for Nikola’s Class 7 and 8 commercial trucks. “Heavy trucks remain our core business and we are 100% focused on hitting our development milestones to bring clean hydrogen and battery-electric commercial trucks to market,” Nikola CEO Mark Russell said.

For more: https://ca.reuters.com/article/businessNews/idCAKBN28A1R8

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