Point Roberts WA, Delta BC, September 9, 2020 – Investorideas.com, a global news source and leading investor resource covering cleantech and renewable energy stocks issues today’s edition of the Cleantech and Climate Change Podcast, talking about today's problems and solutions for the future.
Listen to the Podcast:
https://www.investorideas.com/Audio/Podcasts/2020/090920-CleanTech.mp3
Read this in full at https://www.investorideas.com/news/2020/cleantech-climatechange/09091TSLA-GM-NKLA.asp
Listen to the cleantech and climate
change podcast on Spotify
Transcript/overview
Today we are looking at the battle of the EV stocks
as Nikola Corporation turns investors’ heads. ( note prices are at the close of market
September 8,2020)
Nikola Corporation (NASDAQ:
NKLA) and General Motors Co. (NYSE:
GM) announced a strategic partnership that begins with the Nikola
Badger and carries cost reductions through Nikola's programs, including: Nikola
Badger, Nikola Tre, Nikola One, Nikola Two and NZT. As part of the agreement,
Nikola will utilize General Motors' Ultium battery system and Hydrotec fuel
cell technology, representing a key commercialization milestone for General
Motors.
Nikola will exchange $2 billion in newly issued common stock for
the in-kind services and access to General Motors' global safety-tested and
validated parts and components. General Motors will be subject to a staged
lock-up provision beginning in one year and ending in June 2025. General Motors
will engineer, homologate, validate and manufacture the Nikola Badger battery
electric and fuel cell versions.
Nikola stock closed at $50.05, up $14.50 (+40.79%) on volume of
over 133 million.
Highlights include -General Motors to engineer, validate,
homologate and build the Nikola Badger for both the battery electric vehicle
and fuel cell electric vehicle variants as part of the in-kind services
Nikola anticipates saving over $4 billion in battery and
powertrain costs over 10 years and over $1 billion in engineering and
validation costs
General Motors expects to receive in excess of $4 billion of
benefits between the equity value of the shares, contract manufacturing of the
Badger, supply contracts for batteries and fuel cells, and EV credits retained
over the life of the contract
General Motors to be exclusive supplier of fuel cells globally
(outside of Europe) to Nikola for Class 7/8 trucks, providing validation and
scale in a multi-billion dollar total addressable market
Badger is anticipated to enter production by year-end 2022
EV maker Tesla, Inc. (NASDAQ: TSLA) stock fell to $330., down $21-88.11 (-21.06%) on the day following this
news and continuing downtrend in tech
stocks. Shares were also impacted by the exclusion of the S&P 500 Index.
If you would like to be a guest on this podcast and
tell your story please call me at 800 665 0411
For investors following EV stocks we do have a
directory of publicly traded stocks – visit https://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Thanks, that’s it for today. Do something good for this beautiful planet
each and every day.
Podcast host: Dawn Van Zant
The Investorideas.com podcasts are also available
on iTunes, Spotify, Tunein, Sticher, Spreaker.com, iHeart.com and Google Play
Music.
Visit the Cleantech and Climate Change Podcast page at Investorideas.com
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1 comment:
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