General Motors' Talks With Nikola Continue, but There's No Deal Yet

General Motors (NYSE: GM) said today that its talks with embattled electric-truck start-up Nikola (NASDAQ: NKLA) are continuing, but there's no deal yet.

In remarks during GM's third-quarter earnings conference call, CEO Mary Barra confirmed that "discussions with Nikola about a commercial transaction" continue, but the deal hasn't yet closed. She declined to provide any guidance on when that might happen.

GM and Nikola said on Sept. 8 that they had agreed to a deal in which GM would develop and build Nikola's Badger electric pickup, and sell electric-vehicle batteries and hydrogen fuel cells to the start-up, in exchange for $2 billion in newly issued Nikola stock.

Source Fool.com