GM Launches $2 Billion Strategic Partnership with Electric Vehicle Pioneer Nikola

Powered by LawFuel – Paul, Weiss is representing General Motors Co. in a strategic partnership with pioneering electric vehicle maker Nikola Corporation.

Under the terms of the agreement, GM will receive a $2 billion equity stake in Nikola in exchange for the in-kind services and access to GM’s ready-for-production Ultium battery technology and multibillion-dollar Hydrotec fuel cell systems needed to build the Nikola Badger, a zero-emission battery-electric and hydrogen-fuel cell-powered electric pickup truck. GM will engineer, validate, manufacture and obtain industry approvals for the vehicle and provide cost reductions for other models.

The Paul, Weiss team includes corporate partners Steven Williams, Scott Barshay and John Kennedy; intellectual property partner Jonathan Ashtor; tax partners Robert Holo and Jeffrey Samuels and counsel Alyssa Wolpin; employee benefits partners Lawrence Witdorchic and Jean McLoughlin; and antitrust counsel Marta Kelly.

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