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Under the terms of the original $ 2 billion deal, which the deal replaces, GM would take an 11% stake in Nikola. The reworked deal follows allegations of fraud that have been leveled against the company and its founder and former executive chairman Trevor Milton. Two women accused him of sexual assault, CNBC reports.
The badger’s fate is unclear. Nikola said the project depended on a partnership with a manufacturer. It will refund all order deposits for pickup.
“The Badger is on hiatus,” a Nikola spokesperson told Engadget. “Heavy duty trucks remain our core business and we are striving 100% to meet our development milestones to bring clean hydrogen and battery electric commercial trucks to market.
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