It may seem that for automakers and car investors that seem to love news of partnerships, synergies and cost-savings as expensive tech upends long-held rules of the road.
Auto companies throughout the world have been known to be looking for their green partner even if they have their own grand plans for electric vehicles. But cautionary tales are emerging of why the best way into this brave new world compelled by a regulatory push and sky-high Tesla Inc.like valuations may be to seize the wheel on their own.
General Motors CO had made an aggresive push into electric vehicles an it was time to take an 11% equity stake that was worth about $2 Billion in upstart Nikola Corp. Looking at the risks in Nikolas prospectus, this was considered a tie and was considered to be up to far.
Investors have seemingly loved the idea of this and seem to like the idea of car company’s ideas to accessorize for the future. GM’s prices had risen upto to almost 8% on the day. Nikola’s surged almost 40%. (Source : economictimes.com)
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