JPMorgan still sees Nikola, GM partnership as likely by December

JPMorgan analyst Paul Coster believes Nikola (NKLA) and General Motors (GM) are still likely to enter into a strategic partnership by December 3. Nikola needs access to General Motors’ supply chain and engineering resources while GM needs to realize a return on billions of dollars of investment in hydrogen fuel cells, and Nikola might be the best available option, the analyst contended.

PARTNERSHIP STILL LIKELY BY DECEMBER 3: In a research note to investors, JPMorgan analyst Paul Coster said he believes Nikola and General Motors are still likely to enter into a strategic partnership by December 3. Nikola needs access to General Motors’ supply chain and engineering resources while GM needs to realize a return on billions of dollars of investment in hydrogen fuel cells, and Nikola might be the best available option, Coster contended. Further, the Badger initiative might be of more interest to GM than Nikola, “for whom it seems to be a distraction,” the analyst added.

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