Nikola’s stock jumps after reviving GM deal

Shares in electric vehicle start-up Nikola jumped nearly 12% during pre-market trading on Wednesday, after Mark Royce, president of General Motors, said his company still viewed its relationship with the company as a great opportunity to achieve more. Earnings.
Royce said the automaker was continuing to work on the deal to acquire a $ 2 billion stake in Nicola, which was announced last month.
He added in an interview with “CNBC”: “The premise of supplying our cars of classes 7 and 8 with fuel cells is amazing, and we know that there are great advantages to that in terms of efficiency, operational cost and opportunities.”
This is the first time that a GM executive has commented about the deal, which has been postponed due to fraud allegations of former Nicolas CEO Trevor Milton.

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