GM, Nikola Scale Back Deal that Included Ultium Batteries

DETROIT – General Motors Corp. and Nikola Corp. have reached a new agreement for the electric-vehicle startup to use GM’s Ultium batteries. Monday morning, the companies announced a scaled-back deal that allows Nikola to use Ultium batteries – which will be made in Lordstown – but scraps GM’s equity stake in the startup and plans for GM to build Nikola’s pickup truck. “We are excited to take this important step with GM, which provides an opportunity to leverage the resources,

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