GM Will not Take Stake in Nikola

Normal Motors Co. will not take an fairness stake in electric-truck maker Nikola Corp. below a stripped-down settlement revealed Monday, a big retrenchment from an earlier pact that fueled investor enthusiasm for each corporations.

Below the revised deal, GM nonetheless intends to supply Nikola with fuel-cell know-how but it surely has nixed plans to take an 11% stake within the Phoenix-based startup in alternate for supplying engineering work and different providers.

The…

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