General Motors made an announcement last week about its collaboration with their long time rival company, Honda. These two companies are well known for developing combustion engines commercial vehicles for a long time. As time changes the need for electric vehicles has been increased to a considerable extent. Already many EV companies have produced a stable version of their products which has delivered expected results in real-time. Most of these electric vehicles get internet connectivity where they use for choosing the traffic-free circuit for easy mobility and other such functionalities. This alliance between these two companies is to develop Badger electric and also a fuel-cell pickup truck.
Along with these announcements, It’s said that the GM motors being a pioneer in the industry will supply fuel-cell technology along with the essential support for installations and guidance. These fuel cells will be used for Class 7 and 8 semi-trucks developed by Nikola. During one of the press releases, GM CEO Mary Barra has announced that this initiative will make the company move towards their long time vision to make zero-emissions future. General Motors has been working on various other projects to utilize renewable energy as its core fuel for heavy-duty vehicles. As a part of their deal, Nikola will invest a huge investment in General motor to the return the Gm will supply required engineering while manufacturing Badger in the future.
To manufacture these heavy commercial vehicles, factories will be set up in the Detroit-Hamtramck plant. Nikola’s upcoming project will use GM’s Ultium battery technology. This battery which was developed by the GM has been stress tested, based on the reports generated while analyzing the performance of this energy storage it has produces a good result. It’s said that the battery will produce at least 400 miles of range. Its also considered that Nikola has produced a vehicle that consumes both combinations of the battery along and fuel-cell power to produce 600 miles of range. At present Nikola plans to produce vehicles that exclusively consume purely battery-powered fuel and fetch 300 miles with a single charge. These two companies have their strong battery technology which could be used for heavy trucks in the future.
The stable version of the product which is produced by these two companies will help each other. It’s expected that this deal will get a final closure within this month. Soon after the announcement this deal to produce the electric vehicles, the share price of general Motors gained a sudden peak. it’s usual to find the price of the share gets poped up for a short time when the big changes happen around the company. General Motors were looking for a huge investment for the past couple of months to kick start their future project missions. It was an announcement in their general body meeting with the shareholders that the company has many plans to revolutionize the automobile industry with their stable battery-powered vehicles. This deal has assured the investors that the company has started moving towards their goal in establishing their plans.
Trevor Milton, Nikola founder, and Executive Chairman has said that this deal with General Motors will make Nikola a leap forward making the company more than just a manufacturer. Milton also added that the partnership with General Motors has made them accessible for more technology and their multi-billion dollar battery technology.
