Gm Agreement With Nikola

Electric truck maker Nikola is still in talks with General Motors to enter into an alliance in the coming weeks, but it has supply contracts with Bosch and battery maker Romeo Power for its large futuristic facilities in the absence of a partnership with the automaker. The initial agreement reinforced Nikola`s status as one of the many high-flying green start-ups that attract Wall Street`s attention. GM`s loans to its engineering and manufacturing know-how and the awarding of a place on Nikola`s board of directors as part of the now-scrapped commitment were seen as confirmation of Nikola`s business model and growth prospects. GM said it was still interested in continuing cooperation projects with Nikola, but did not specify why it was delaying the conclusion of the agreement by 10 years. If the plans continued, Nikola would use GM`s battery system and batteries at a lower cost in future versions of his trucks. The automaker would also build and build Nikolas Badger`s electric pickup truck. In return, at the time the deal is announced, GM could receive $2 billion in new shares from Nikola and appoint a member to Nikola`s board of directors. The Detroit automaker also rejected plans to build an electric pickup truck called Badger for Nikola, an important part of a previous agreement outlined in September. This agreement was delayed after a negative report from short sellers raised questions about the willingness of certain aspects of Nikola`s business, allegations that the company declared false and misleading. GM and Nikola have revised their previous agreement; In this small agreement, GM Nikola will only provide fuel cells instead of building the badger.

Certain statements contained in this press release, which are not historical facts, are forward-looking statements for the safe harbor purposes of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally made by words such as “believe,” “may,” “want,” “appreciate,” “continue,” “anticipate,” “expect,” “should,” “plan,” “plan,” “anticipate,” “potential,” “appear,” “seek,” “forward- ” outlook,” and similar expressions that predict future events or trends or trends to be accompanied. These forward-looking statements include, among other things, statements about Nikola`s expectations regarding the terms and potential benefits of the agreement or a final agreement with GM; Nikolas` expectations and deadlines for prototypes and production and testing; The benefits of fuel cell technology and Nikolas` beliefs about the benefits of his emission-free vehicles. These statements are based on different assumptions, whether or not they are mentioned in this press release, and on Nikolas Management`s current expectations and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements, including, but not limited to, Nikola and GM`s ability to provide definitive documents for a supply agreement and the terms of such final documentation; failure to meet the expected benefits of the agreement or final agreement; general economic, financial, legal, political and commercial conditions and changes in domestic and foreign markets; The potential effects of COVID-19; The consequences of legal, regulatory or administrative proceedings in which Nikola participates or may be involved; the risks associated with the introduction of Nikola`s business and the date of the expected commercial bricks; The impact of competition on Nikolas` future activities; Availability of capital and other risks discussed from time to time at the SEC under “Risk Factors” in Nikolas` Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and other reports and documents.